Flipkart to acquire travel technology company Cleartrip
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.
New Delhi: Flipkart, India’s homegrown e-commerce marketplace today announced the proposed acquisition of Cleartrip, a leading online travel technology company. Flipkart will acquire 100% 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 closely with Flipkart to further develop technology solutions to make travel simple for customers.
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.
About Flipkart
The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, and Flipkart Wholesale. Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India’s e-commerce revolution, with a registered 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, delight customers, create lakhs of jobs in the ecosystem and empower generations of entrepreneurs and MSMEs have inspired us to innovate on many industry firsts. 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. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns – customer-centric innovations that have made online shopping more accessible and affordable for millions of Indians. Together with Myntra, which holds a prominent position in the online fashion market, and now Flipkart Wholesale, the Flipkart Group will continue to steer the transformation of commerce in India through technology.
About Cleartrip
Cleartrip is the leading online travel and leisure aggregator. Founded in 2006, Cleartrip offers its customers a comprehensive and personalized travel experience through its innovative and award-winning mobile and desktop solutions. Combining intuitive products with a customer-centric approach and the widest selection of flights and hotels, Cleartrip brings a highly differentiated value proposition to market, offering convenience, choice, competitive prices, and exclusive content. In the last twelve months, Cleartrip has been at the forefront of introducing new industry-first products such as Flexifly and TravelSafe to address customers prioritizing flexibility and safety in their travel plans.