Flipkart Acquires Myntra for Rs. 2000 Crore
Flipkart is currently one of the largest e-retailer in the Indian market and recently the company has announcedthat it has acquired Myntra for Rs. 2,000 crore. If reports are to be believed then it is being expected that Flipkart which has a valuation of $2.5 billion has merged its businesses with Myntra to compete Amazon in the Indian market. Apart from Amazon, eBay’s Snapdeal is also giving a tough competition in the marketplace.
This acquisition will definitely help Flipkart to increase its customers and become India’s leading eCommerce giant. Myntra and Flipkart will continue to work as separate entities and we are expecting to see some common interest in terms of logistics and technology.
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