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Synopsis The Flipkart-Cleartrip deal comes at a time when Flipkart and Amazon are aggressively pushing hotel and travel bookings on their sites as they diversify into new services, such as food delivery and e-pharmacy. Bengaluru:Flipkart has officially announced its plan to acquire a 100% stake in Cleartrip, one of the oldest travel booking portals in India, as the online retailer looks to strengthen its overall offerings. The Walmart-owned e-commerce firm said it will acquire the operations of Cleartrip and retain all employees. Cleartrip will continue to operate as a separate brand and wil...

Flipkart likely to acquire Cleartrip in a distressed sale Walmart-owned ecommerce firm Flipkart is close to acquiring travel and hotel booking platform Cleartrip in a distress sale, the Economic Times mentioned in a report citing two people having knowledge of the development.  The deal may be a mix of cash and equity and likely to value Cleartrip at about USD 40 million in what’s considered to be a distress sale for the 15-year-old Mumbai company amid the pain that Covid-19 has inflicted on the travel and hospitality sectors. “Talks have been on and...