Flipkart in negotiations with ClearTrip to acquire majority stake
Ever since the concept of ‘super-apps’ has become popular, major firms like Amazon, PayTM have been redesigning their apps to be able to cater to all kinds of needs of their customers be it payment services, food delivery, retail, or travel bookings.
Flipkart too, as of recent, has been wanting to get a ‘seat’ on the ‘super-app train’. Flipkart, which is owned by the US retail-giant Walmart, first dipped its toes in this segment when it entered an agreement with MakeMyTrip enabling the former to offer the latter’s services on its app.
An anonymous source informed MoneyControl that Flipkart is currently in talks with ClearTrip, an online travel management service which allows users to make hotel, travel bookings. This interest that Flipkart has shown in ClearTrip denotes the e-commerce firm’s aim of increasing its market share in the travel segment.
According to the said source, Flipkart is seeking to acquire a majority stake in the company which will give it full control of the company and the deal is currently undergoing negotiations. The proposed deal will provide Concur Technologies, DAG Ventures and Gund Investment Corporation, ClearTrip’s promoters an exit from the firm.
Although this news remains unconfirmed by the major partied involved, a successful deal would mean Flipkart infusing the company’s services into its app where it will be met with Flipkart’s strong customer base which could go on to potentially make this venture profitable.