Stuart Crighton, CEO and co-founder of Cleartrip, said Cleartrip has been a pioneer in capitalising on technology to simplify the travel experience for customers. This product-driven focus has enabled it to become the preferred travel partner of choice for consumers in a wide range of markets in the region. “We are delighted to be part of the Flipkart family and are excited about the positive impact this collaboration can have for our customers and the travel industry in general,” said Crighton.
The deal closing will be subject to applicable regulatory approvals.
According to industry sources, the move will enable Flipkart to take on travel companies
such as MakeMyTrip, Yatra, Booking.com, and EaseMyTrip. Flipkart expects a boom in travel and tourism as the economy recovers from the pandemic-induced slowdown.
Apart from air travel, Flipkart would also be able to offer train bookings through Cleartrip, which has a partnership with IRCTC.
In 2018, Flipkart formed a strategic partnership with MakeMyTrip in the travel services segment. The aim was for MakeMyTrip’s multiple brands —including MakeMyTrip, Goibibo and redBus — to leverage Flipkart’s large customer base to drive online bookings in travel services.
In 2019, Flipkart strengthened its travel offering by introducing an enhanced native experience in partnership with Ixigo, a mobile travel platform. Last year, Flipkart’s rival Amazon India partnered IRCTC. Incidentally, last year, Amazon also partnered Cleartrip to add a flight-booking option to Amazon Pay.
Cleartrip reported loss of Rs 14 crore in FY20, a 53 per cent decrease compared with the previous year, and revenues of Rs 319 crore, according to Tofler.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.