Flipkart, a domestic e-commerce company, has purchased the majority of Pinkvilla India, a digital infotainment platform.
The agreement is a component of Flipkart’s plan to increase the reach of its content and strengthen ties with Gen Z and millennial customers. Flipkart hopes to learn more about new trends and leverage content to open up new business opportunities with this acquisition.
According to Flipkart Senior VP Ravi Iyer, the action will improve the company’s relationship with Generation Z. He went on to say that Flipkart’s efforts to use content as a growth driver will be accelerated by Pinkvilla’s content intellectual property and sizable audience.
Pinkvilla, an infotainment platform with millions of users, was founded by Nandini Shenoy. Pinkvilla hopes to expand its business and solidify its position as a pioneer in the digital entertainment industry with Flipkart’s help.
“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,” said Ravi Iyer, Senior Vice President, Corporate, Flipkart.
Myntra, Flipkart Wholesale, Cleartrip, and super.money are among Flipkart’s group companies. The business keeps branching out into new fields, such as content-led engagement, in addition to commerce.
Flipkart announced a new ESOP (Employee Stock Option Plan) liquidity opportunity for its staff in July of this year.
