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Flipkart To Invest In Swiggy, UrbanLadder and UrbanClap?
In a bid to ward off continual competition from Amazon India, ecommerce website, Flipkart, is planning to diversify its strategy by investing in a large number of startups including food delivery startup, Swiggy, home services startup UrbanClap and furniture retail firm UrbanLadder.
Flipkart has been on the lookout for companies that can help boost its presence in different sectors and a potential investment in these startups will help this ecommerce firm broaden its horizons. Flipkart recently raised a whopping $ 3 billion in fresh capital from investors like SoftBank Group Corp., Tencent Holdings, eBay Inc., and Microsoft Corp.
Since 2014, Flipkart changed its marketing strategy and has been making moves that are beneficial for the company in the long run. Through hitting the market at the right time and by acquiring only those startups that have significant value in the Indian economy, Flipkart has managed to stay right on top since its inception.
Flipkart has also invested $ 500 million dollars in PhonePe, its counterpart for online payments facilitator, Paytm. The other part of the investments is being used to boost the already existing arms of the company like Myntra, Jabong, PhonePe and Jeeves Consumer Services. Amazon India is no slouch in the investing department either. Amazon India has been in constant competition with Flipkart, with both ecommerce brands churning out some amazing products at the end of the day. Amazon India has disclosed an investment of $ 800 billion and is planning on using this to further grow in sectors that have a lot of untapped potential.
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