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Flipkart acquired Cleartrip for $40 million

April 14, 2021

Flipkart acquired Cleartrip for $40 million

Flipkart is finalizing the acquisition of Cleartrip, one the most seasoned travel booking portals in India, two individuals aware of everything said, as the Walmart-owned online retailer keeps on making key ventures across areas to fortify its portfolio and build an environment around it.

The Flipkart-Cleartrip bargain, which will be a blend of money and value, is probably going to value Cleartrip at around $40 million in what is viewed as a trouble deal for the 15-year-old Mumbai firm in the midst of the harm that the pandemic has inflicted on the travel and hospitality industry.

“Talks have been on and will probably culminate in a transaction soon. The specific terms of the deal are as yet underway yet a declaration may come through soon. The Covid-19-made purge drove the Cleartrip deal,” said an individual near the matter who would not like to be named as the discussions are private.

Cleartrip’s financial investors incorporate Concur Technologies, a supplier of coordinated travel and cost the board solutions, DAG Ventures and Gund Investment.

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