Flipkart, India’s homegrown e-commerce marketplace 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.
Under the terms of the agreement, 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 simple for customers.
Kalyan Krishnamurthy, CEO, Flipkart Group, said that the Flipkart Group is committed to transforming customer experiences through digital commerce, Cleartrip is synonymous with travel for many customers, and as the firm diversify and look at new areas of growth, this investment will help to strengthen wide 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,” remarked Krishnamurthy.
Stuart Crighton, CEO and Co-founder, Cleartrip, said that Cleartrip has been a pioneer in capitalising on technology to simplify the travel experience for our customers and the 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,” added Crighton.