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Walmart-owned ecommerce marketplace Flipkart has acquired a majority stake in digital content platform Pinkvilla, the company announced on Monday. The development is a part of Flipkart’s broader strategy to engage with the younger shoppers.
Flipkart said in a statement that the companies are expected to close the financial transaction shortly. While Flipkart did not disclose details of the deal, a person close to the matter said the online retailer is likely to have picked up more than 75% in Pinkvilla valuing it at around $15 million….
