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Flipkart Acquires Letsbuy; Common Investors Get Consolidated Play In Indian E-com

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Flipkart.com, the largest online retailer in India, is buying out Letsbuy.com, a specialised e-commerce site run by the two-and-a-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. “The acquisition is a combination of cash and equity, and the founders of Letsb
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