NEW DELHI: Flipkart on Thursday announced it has acquired electronics recommerce company Yaantra for an undisclosed sum. This acquisition, according to Flipkart, will help the ecommerce major build capabilities in this domain and accelerate its recommerce scale-up plans.
Recommerce or reverse commerce is the selling of previously owned or used products. Yaantra, incorporated in 2013, repairs and sells refurbished consumer tech products such as smartphones and laptops. “With this acquisition, Flipkart will provide a comprehensive service ecosystem to its customers that takes care of the entire lifecycle of smartphones,” the company said.
The business will report to Prakash Sikaria, Senior Vice-President and Head of Flipkart’s Growth Charter.
Ravi Iyer, Senior Vice-President and Head - Corporate Development, Flipkart, said, “At Flipkart, we continuously strive to find new ways to be more relevant to consumers and address the growing consumer internet ecosystem in India.