Mere five months post acquisition, e-commerce giant Flipkart has pulled the plug on Letsbuy.com and integrated its operations.
A post on the website reads,
“Thank you for your valuable patronage to LetsBuy.com. In order to further improve your shopping experience, we have integrated our operations with the largest player in the category – FLIPKART.COM. We are redirecting all our visitors to Flipkart.com where you can avail the same exciting offers on the entire range of products,” a note on LetsBuy’s homepage said. For LetsBuy’s existing customers, order history and status remains secure and they can get all details about your existing orders by dialing: 0124 4901234 (from 8 AM to 9 PM ).
Flipkart had acquired Letsbuy in February for an undisclosed amount to increase their share in online market. LetsBuy.com was founded in 2009 by Hitesh Dhingra (Founder and CEO) and Amanpreet Bajaj (co-founder and COO). Manish Vij, the co-founder of the Vun Network, and Nitin Gupta (Former Country Manager, South Asia at MasterCard and Former President and COO at Rediff.com) had made angel investments in LetsBuy.com.
Flipkart’s this move has raised various questions? What was the real reason behind the acquisition of Letsbuy? Why the sudden decision of shutting it down?
April 22, 2013, 5:55 am UTC
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