Indian Ecommerce Flipkart Plans to Acquire Mumbai Based Cleartrip

An E-Commerce Company, Flipkart, is about to buy an online traveling firm named Cleartrip. However, the acquisition deal is yet to be disclosed but will be announced in next coming days.

Flipkart is one of the most well-known companies currently battling giant US-based Amazon in the ecommerce market. Therefore, Flipkart has plans to acquire Cleartrip to widespread business in more products like online flight booking, hotels, and many more. Besides, Flipkart can scale up the gross merchandise value (GMV).

With this new deal, Flipkart can gather more crowd in its online platform and give a tough competition to other firms such as Yatra, Booking.com, and Makemytrip. 

Cleartrip is a Mumbai-based traveling firm founded by Stuart Crighton. It earns around 80% revenue only in the airline booking section. However, since 2020, the airline booking revenue has dropped by 2.5%. Simultaneously, Goibibo has increased by 11%, which is five times higher compared to Cleartrip.

Besides, the collaboration of Flipkart and Ahmedabad-based Adani Group, led by Tycoon Gautam Adani, is coming closer. With this strategic move, Flipkart will go against the big giant Amazon and compete with Jiomart. Apart from Cleartrip and Flipkart, the Myntra shopping application is quite busy as well.

Walmart is one of the most available platforms in the wholesale market of India. Besides, it is merging with some of the brands like Flipkart. Similarly, it has led to investments in some of a few startups, such as ShadowFax and Ninjakart.

DAG Ventures, Concur Technologies, and Gund Investment Corporation are the crucial investors of Cleartrip. In 2016, all these firms invested. 

Conclusion

Indian E-commerce Flipkart has planned to acquire an online traveling website named Cleartrip. With this new deal, Flip can reach the next level in competition with e-commerce giants like Amazon. And, it can also boost the gross merchandise value (GMV).