Flipkart acquires Cleartrip in an effort to cement its position in the travel booking segment

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The rumours have finally taken a pace and the truth is out!

Flipkart made it official, it has acquired cleartrip by announcing that the company will acquire 100% shareholding of Cleartrip and its operations.

“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 wide range of offerings for customers,” Kalyan Krishnamurthy, the chief executive office of Flipkart Group.

Flipkart had always shared its interest in partnering with a travel company ever since it had partnered with MakeMyTrip in 2018 and then switched to Ixigo.

The traveling app Cleartrip was founded in 2006 by Hrush Bhatt, Matthew Spacie and Stuart Crighton. Now, Cleartrip will function as a separate entity, retaining its existing employees. Although the company had already laid off 500 employees because of COVID-19 and lockdown.

“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,” Stuart Crighton, co-founder of Cleartrip, said in a statement.

While both the companies kept the financial dealings undisclosed but the rumors said it will be acquired in $40 million.

News Source: The Business Insider

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