TravTalk India Online Magazine
Flipkart will acquire 100 per cent of Cleartrip’s shareholding, as the company further enhances its investments to strengthen its digital commerce offerings for customers. Cleartrip will continue to operate as a separate brand, retaining all employees while working closely with Flipkart to further develop technology solutions to make travel simpler for end customers.
Manas Dwivedi
Flipkart, India’s homegrown e-commerce marketplace, has announced the proposed acquisition of Cleartrip, an online travel technology company. Flipkart will acquire 100 per cent of Cleartrip’s shareholding, as the company further enhances its investments to strengthen its digital commerce offerings for customers. Under the terms of the agreement, Cleartrip operations will be acquired by Flipkart. Cleartrip will continue to operate as a separate brand, retaining all employees while working with Flipkart to further develop technology solutions.
Kalyan Krishnamurthy, CEO, Flipkart Group, said, “The Flipkart Group is committed to transforming customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we diversify and look at new areas of growth, this investment will help strengthen our range of offerings for customers. We welcome the Cleartrip team with their deep industry knowledge and technology capabilities to the Flipkart Group and look forward to providing deeper value and travel experiences for customers together.”
Stuart Crighton, CEO and co-founder of Cleartrip, said, “Cleartrip has been a pioneer in capitalising on technology to simplify the travel experience for our customers. This product-driven focus has enabled us to become the preferred travel partner of choice for consumers in a wide range of markets in the region. We are delighted to be part of the Flipkart family and are excited about the positive impact this collaboration can have for our customers and the travel industry in general.” The deal closing will be subject to applicable regulatory approvals.
The Flipkart Group is a digital commerce entity and includes companies Flipkart, Myntra, and Flipkart Wholesale. Started in 2007, Flipkart enabled millions of sellers, merchants, and small businesses to be a part of India’s e-commerce revolution, with a customer base of over 300 million, offering over 150 million products across 80+ categories. “Our efforts to democratise e-commerce in India, drive access and affordability, create lakhs of jobs in the ecosystem and empower generations of entrepreneurs and MSMEs have inspired us to innovate. The recent launch of Flipkart Wholesale, our new digital marketplace, is a testament to our commitment to accelerate the growth of kiranas and MSMEs in India,’ the company’s statement read. Meanwhile, Cleartrip has been introducing new industry-first products such as Flexifly and TravelSafe to address customers prioritising flexibility and safety for their travel.
