At a time when the travel and hospitality sector is still gasping for breath as the second wave of covid-19 sweeps the country, the e-commerce retailer Flipkart backed by Walmart is likely to acquire the distressed travel and hotel booking platform ClearTrip for an approximate $40 million value.
As per the report in Mint, the cash-and-stock deal is valued at almost $40 million and likely to be closed in the next few days. Flipkart Group’s plan to acquire the travel company comes amid the worst time in history for the hospitality sector reeling under the impact of the pandemic.
How it will aid Flipkart’s ambition in the travel sector?
The e-commerce major had inducted travel bookings in 2018 through a partnership with MakeMyTrip, and…