Online retail giant Flipkart Ltd is planning to diversify its business by investing more in start-ups and making more acquisitions, Mint reported. The company has reportedly held discussions with food-delivery app Swiggy, services firm UrbanClap and furniture retailer UrbanLadder.
Since 2014, Flipkart has changed its mergers and acquisitions strategy and now it is only seeking large, strategic deals that will directly help its business, unidentified officials of the company told Mint.
The company is flush with cash at the moment, Mint reported, having raised almost $3 billion in fresh capital from SoftBank Group Corp, Tencent Holdings, eBay Inc and Microsoft Corp.Till date, Flipkart has acquired or invested in over 20 companies.
Last week, the online retailer was in talks to buy a stake in online ticketing platform BookMyShow. Earlier, a report said that Flipkart was in talks with Kishore Biyani to buy stakes in the Future Group’s fashion arm.