Flipkart logo.
Credit: Reuters photo
Bengaluru: Flipkart, India’s homegrown e-commerce marketplace, on Monday announced the acquisition of a majority stake in Pinkvilla India Private Limited, a digital infotainment platform. This acquisition is part of Flipkart’s broader strategy to expand its content footprint and enhance engagement with Gen Z and millennial audiences, leveraging Pinkvilla's established brand, capabilities, and loyal audience base.
Movies and celebrities play a significant role in shaping trends and influencing consumption habits, and with a majority of Gen Z users consuming content on these themes, the acquisition of an infotainment platform is a natural fit as Flipkart enhances its appeal to this audience. This acquisition by Flipkart offers the company a chance to gain trend insights and create content for commerce opportunities, thereby further solidifying the company’s position in the Indian market.
Ravi Iyer, Senior Vice President, Corporate, Flipkart, commented, “Our acquisition of a majority stake in Pinkvilla is a critical step in our mission to deepen our engagement with Gen Z. Pinkvilla's robust content IPs and strong connection with its loyal audience base are assets that will accelerate our efforts to leverage content as a key driver of growth.”
The deal has been finalised and is subject to customary closing conditions. The companies expect to close the transaction shortly.