Online retailer Flipkart bought Letsbuy, and specialised fashion retailer Myntra said it has raised $21 million (100 crore) on Thursday, both transactions underscoring the rapid evolution of India's e-commerce industry.
Flipkart, one the country's biggest online retailers, said it has acquired smaller rival Letsbuy in a cash and stock deal without specifying the value of the transaction. But people familiar with the matter said it was worth around $20 million.
Read More Source: economictimes.indiatimes.com
