India’s eCommerce space today witnessed another thrill when Flipkart reportedly buying it’s relatively small-scale rival Letsbuy.com
Flipkart has not yet officially announced the exact amount of the deal – but yes, according to Routers, the news is true.
Flipkart and Letsbuy stuck a deal of about $25 million, which consist of cash & equity. Also, 350 employees of Letsbuy will operate independently under the existing management team.
According to Flipkart – Letsbuy is India’s second largest electronics retailer website.
Just in case you don’t know yet – we can buy online many things from these sites ranging from stationary, electronics, mobile phones, home appliances, toys, games, sports equipment, clothes and healthcare products.
Flipkart is headquartered in Bangalore, India is co-founded by Sachin Bansal and Binny Bansal. They, after receipt of $30 million in funding – managed to win hearts of thousands of Indian customers by providing better user experience, wide variety of products, competitive prices and on-time delivery – to eventually became the most popular eCommerce website ever in India.
Letsbuy, is headquartered in Gurgaon, India – is also among the most favorite online shopping websites. They also received $6 million in funding last year.
Flipkart is also planning heavy to get more funding from various sources to strengthen their services to compete against Word’s largest online retailers like Amazon, Best Buy preparing to open their own distribution channels in India.
Amazon has already made live, Junglee.com – their Indian version of the website.
I don’t think this deal has anything to offer to their customers but, this has certainly brought Indian eCommerce space into a lime-light.
Uh la la 
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