Flipkart Buys Letsbuy!
One of India’s biggest online retailer Flipkart.com purchased its rival online company Letsbuy.com. This is a crucial strategic move by the fast growing Flipkart, and it is said that the move will benefit both Flipkart as well as Letsbuy in long term. While Flipkart has a particularly strong base at the online shipping of books, Letsbuy has its strength at computers and electronic gadgets.
The online competition is going to be interesting in the coming months as amazon.com also joined the online shopping space with their Indian version Junglee.com.