Flipkart has bought a majority stake in digital media company Pinkvilla. After this acquisition, the e-commerce company Flipkart will take advantage of Pinkvilla’s large audience base and increase the association with Jane ji and Millennial Customers.
Flipkart-pinkvilla deal: E-commerce company Flipkart has achieved the mazority stake in Digital Infotainment platform Pinkvilla India Private Limited. The acquisition is part of Flipkart’s comprehensive strategy to expand its content and increase connectivity with Jane-G, taking advantage of Pinkvilla’s established brand, abilities and Loyal Audience Base. The acquisition made by Flipkart offers the company an opportunity to get information about trends and create content for commerce handlelines, which will further strengthen the company’s position in the Indian market.
This deal will increase our engagement with Gen Z
According to Ravi Iyer, a corporate Senior Vice President of Flipkart, the acquisition of Mazority Stek at Pinkvilla is an important step in our mission to deepen our association with Generation Z. Let us know that Pinkvilla, which started in 2007, is popular for the news related to the film, entertainment and celebrity. This category controls Indian consumer’s boiling habits and trends to a great extent. In such a situation, Flipkart has taken this step to join the Millennial Customers as much as possible.
What did Nandini Shenoy say Pinkvilla’s CEO on the deal?
Pinkvilla’s founder and CEO Nandini Shenoy said, “The investment made by Flipkart is a proof of the strong platforms and content we created. We are confident that with the help of Flipkart, we will be able to expand our operations and give the audience high quality content, which will be seen among our millions of users. Our situation will be seen and strengthened after this deal.” This deal is finalized. Both companies hope that this transaction will be completed soon.
Who is the founder of Flipkart?
Flipkart founders are Sachin Bansal and Binny Bansal. The two together started this company in 2007. Earlier this company started as an online bookstore, but gradually expanded itself and is now one of the largest e-commerce companies in India. Its headquarters are in Bengaluru.
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