MediaNama has reported that Flipkart is acquiring Letsbuy. An official announcement is likely to be made in the coming days.
Flipkart and Letsbuy are two of the most popular online stores in the Indian market and this consolidation would be good for the two companies.
Flipkart is known for their quality of service while Letsbuy is known for discount coupons. Remains to be seen if Letsbuy would operate in a similar fashion after the acquisition.
The deal could be worth in the range of USD 20-30 million. This is a pretty smallish figure looking at the rumored valuation of Flipkart itself at around USD 850 million!