The Adani Group, led by Gautam Adani, has invested in the Cleartrip travel booking app
The Adani Group, led by billionaire Gautam Adani, announced on Friday that it will invest in Cleartrip Private Limited and take a significant minority stake in the online travel aggregator, which is part of the Flipkart Group.
âWith this investment, Adani Group and Flipkart Group will benefit from synergies that will deliver superior travel experiences to consumers as the travel industry in India experiences a resurgence. Since the acquisition by the Flipkart Group, Cleartrip has seen its flight bookings increase 10 times, âsaid the Adani Group. âIn addition, trends observed by Adani airports indicate that the number of passengers at airports has increased, reaching near pre-covid highs. This partnership will also allow Cleartrip to transcend digital boundaries and bring end-to-end travel services online, âthey added.
Here are ten questions to consider regarding the Adani-Flipkart deal:
1. Adani Enterprises Ltd, the flagship company of the Adani Group, has agreed to buy a “substantial minority investment” in Cleartrip for undisclosed value, according to an exchange document released on Friday.
2. The transaction is expected to close in November, subject to customary closing conditions.
3. Investing in Cleartrip could help the port-to-power company’s plans to launch a super app and grow its airport management business. âThe Cleartrip platform will become an essential part of our larger SuperApp journey. In a statement, Gautam Adani said, “We have a strong and evolving partnership with Flipkart that spans many dimensions, including data centers, distribution centers and now air travel.”
4. The investment would strengthen the strategic cooperation between Adani Group and Flipkart Group, as the two companies strive to provide a diverse range of digital services to Indian consumers. As part of the investment, Cleartrip will also function as the OTA partner of the Adani group.
5. By partnering with the Adani Group in areas such as travel-related products, loyalty programs and other value-added services, Cleartrip hopes to provide consumers with a smooth travel experience and accelerate its growth.
6. According to Gautam Adani, âWe have a strong, evolving relationship with Flipkart that spans many dimensions including data centers, distribution centers and now air travel. “It is such strategic alliances between national enterprises that will ultimately lead to local job creation and an Atmanirbhar Bharat.” The Cleartrip platform will play a vital role in SuperApp’s larger journey that we have started. “
7. âAt Flipkart Group, we are committed to providing consumers with experiences and opportunities to help them achieve their goals. Cleartrip will continue to focus on providing easy and flexible travel experiences to its consumers as travel picks up in the coming months, according to Kalyan Krishnamurthy, CEO of Flipkart Group.
8. The new deal will help Adani in its fight against competing companies developing all-in-one e-commerce applications.
9. In April, Flipkart Online Services Pvt entered into an agreement with the Adani Group to build one of the largest retail warehouses in India.
10. Adani Logistics is building a 534,000 square foot distribution center in Mumbai, which it will lease to Flipkart.
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