E-commerce marketplace Flipkart to acquire online travel technology company Cleartrip
Bengaluru, April 17, 2021
Homegrown e-commerce marketplace today said it would acquire 100 per cent of online travel technology company Cleartrip as part of its plans to enhance its investments to strengthen its digital commerce offerings of customers.
Under the terms of the agreement, Cleartrip operations will be acquired by Flipkart, a press release from the company said.
"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," it said.
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 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.”
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 release said.
The Flipkart Group, one of India's leading digital commerce entities, includes Flipkart, Myntra, and Flipkart Wholesale.
Founded in 2006, Cleartrip is a leading online travel and leisure aggregator.