Flipkart Group may soon acquire travel and hotel booking platform Cleartrip. Three people associated with the case said that Walmart is taking these steps to increase its strength in the authorized e-commerce giant hospitality segment. The hotel industry has suffered a lot due to the Corona epidemic. In such a situation, this deal between the two companies can be finalized within 10 days, where its total amount will be $ 40 million.
A person from Cleartrip said that the travel and hospitality industry is currently suffering from Corona. Travel booking platforms have come down once again. Earlier, there was a partnership between Cleartrip and Flipkart, but due to continuous losses, Flipkart is now fully acquiring Cleartrip. With the help of this deal, Flipkart can also buy and sell products like insurance and payments. That is, every product of Cleartrip will now have the right to Flipkart.
Let us know that in the year 2018, Flipkart partnered with MakeMyTrip. This partnership was for travel bookings. The following year, the company switched to Ixigo. Flipkart is constantly focusing on travel. Negotiations between the two companies have been going on for the last 5 months. Earlier in the year 2020, Flipkart partnered with Liberty General Insurance. With this partnership, the company used to provide travel insurance for flights.
In 2006, the company started Hrush Bhatt, Matthew Space, and Stuart Crighton. With the help of Cleartrip, anyone could make hotel and air travel bookings. During this time, if this company competed with anyone, then they were MakeMyTrip and GoIbibo.
Flipkart now wants to invest in Cleartrip and give tough competition to all the big players in this segment. Sources have revealed that, like many other companies in the travel industry which have suffered losses, Flipkart wants to take advantage of such opportunities and move forward.