Walmart-owned company Flipkart has bought 100 per cent stake in travel and hotel booking platform Cleartrip. Flipkart has informed about this on 15 April. According to the deal, Cleartrip’s operations have been acquired by Flipkart, but Cleartrip will continue to operate as a separate brand. All its employees will continue to have jobs. It is believed that this deal will help Flipkart to strengthen its digital business. At the same time, the company will also have a strong hold in the hospitality sector.
Let me tell you that this deal has happened at a time when the condition of the hospitality sector has become very bad due to coronavirus infection. The coronavirus infection has had a significant impact on the travel and hospitality sector. In such a situation, Cleartrip was also going through a cash crisis and it became difficult for the travel booking platform to remain in business. Now the acquisition of Cleartrip will give Flipkart the opportunity to make direct entry in the travel and hospitality sector. Earlier, Flipkart used to offer travel booking in partnership with Make My Trip.