Flipkart acquires majority stake in Pinkvilla

Flipkart, an e-commerce marketplace, announced the acquisition of a majority stake in Pinkvilla India Private Limited, a digital infotainment platform, on Tuesday, September 2.

This acquisition is aimed at expanding the company’s content footprint by leveraging the platform’s brand and the majority of the Gen Z audience.

Speaking on the acquisition by the company, 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.”

Commenting on the development, Nandini Shenoy, Founder and CEO of Pinkvilla, added, “The investment by Flipkart is a testament to the strong platform and content we have built. We are confident that with Flipkart's support, we will be able to scale our operations and continue to deliver high-quality content that resonates with our millions of users, further strengthening our position as a leader in infotainment.”

The acquisition deal has been finalised and is subject to customary closing conditions, the agency noted. The companies expect to close the transaction shortly.