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flipkart, owned by Walmart, has acquired a majority stake in digital content platform Pinkvilla as part of its strategy to connect with younger shoppers.
Flipkart said the deal will be closed soon but did not share details. However, a source said Flipkart is likely buying over 75% of Pinkvilla, valuing it at about $15 million.
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“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.
“Our acquisition of a majority stake in Pinkvilla is a critical step in our mission to deepen our engagement with Gen Z,” Iyer added.
“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,” said Nandini Shenoy, founder and CEO of Pinkvilla.
About Pinkvilla
Founded in 2007 by Nandini Shenoy, Pinkvilla, a mostly bootstrapped infotainment platform, says a third of its traffic comes from the US and claims over 60 Mn readers. In FY24, it reported ₹15.2 Cr in operating revenue with a net loss of ₹1.4 Cr.
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Pinkvilla will continue to run under its own brand but will work more closely with Flipkart to explore content-led commerce opportunities.
The move comes as ecommerce players expand their content ecosystems. For example, Flipkart’s fashion arm myntra recently launched Glamstream, a shoppable video platform with 500+ hours of short-form premium content linked to its product catalogue.
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