Flipkart to Acquire ClearTrip

16 April 2021 Current Affairs:Flipkart announced the acquisition of Cleartrip. Cleartrip is a leading online technology and travel company. 

Highlights:
♦ Cleartrip was established in 2006. The company book train and plane tickets, hotel reservations and other events in India and the Middle East. There are offices in Saudi Arabia, United Arab Emirates, India and Egypt. 
♦ Flipkart is an e-commerce company located in Bangalore, India. Flipkart initially focused on selling books. Flipkart is the main competitor of Amazon and Snapdeal’s subsidiaries in India. 
♦ As of 2017, Flipkart has 39. 5% market share in the Indian e-commerce industry and has taken a leading position in the apparel sector through the acquisition of Myntra. 
♦ Today, it is described as neck and neck with Amazon Flipkart, which also owns Phonepe. In 2018, Wal-Mart acquired a 77% controlling stake in Flipkart. 
♦ Flipkart was founded by two persons namely Sachin Bansal and Binny Bansal. They are alumni of IIT Delhi and former employees of Amazon.
 

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