1. Flipkart Acquires Letsbuy; Common Investors Get Consolidated Play

    Flipkart Acquires Letsbuy; Common Investors Get Consolidated Play
    Flipkart.com, the largest online retailer in India is buying out Letsbuy.com, a specialised e-commerce site run by two and half year old start-up eTree Marketing Pvt Ltd. The deal marks yet another consolidation move in a bustling e-commerce industry in India that has seen a string of sites folding up recently even as many others are attracting hyper interest from venture capital and private equity investors. read more
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  1. Categories

    1. Markets:

      Bollywood, Gaming, Maps/Local, Mobile, Outsourcing, Social Networking, Telecom, Travel, Video
    2. Financing:

      Acquisition, Funding
    3. Other:

      Jobs, Reports
  2. Quotes

    1. The acquisition is a combination of cash and equity and the founders of Letsbuy along with their 350+ team will continue to function independently, with the added advantage of now being able to access Flipkart's superior technology platform and supply chain capabilities.
    2. LetsBuy.com has grown 10 times in the past one year and that's a phenomenal growth story. Electronics is one of the biggest drivers in e-commerce space across the globe and Letsbuy.com has positioned itself as a specialist in that space.
      By Kanwaljit Singh
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