Walmart-Owned Flipkart Acquires Majority Stake in Pinkvilla — Here's Why

Walmart-owned Flipkart on Monday announced that it has acquired a majority stake in digital content platform ‘Pinkvilla’. This came as a part of Flipkart’s broader strategy to engage with young shoppers. The companies are expected to close the financial transaction related to the acquisition soon, according to PTI reports.

It is said that the ecommerce giant is likely to pick up more than 75% stake in Pinkvilla valuing it at around $15 million. Ravi Iyer, senior vice president, corporate, Flipkart, said Pinkvilla’s robust content IPs and strong connection with its loyal audience base are assets that will accelerate its efforts to leverage content as a key driver of growth.

“Our acquisition of a majority stake in Pinkvilla is a critical step in our mission to deepen our engagement with Gen Z,” Iyer added.

With this deal, Flipkart aims to tap into Pinkvilla’s strong brand appeal, content expertise, and loyal audience base – at a time when films and celebrity culture are becoming key drivers of consumer behaviour.

“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.

Pinkvilla was founded in 2007. It produces entertainment and lifestyle news, stories, and social media content. Currently, it has an audience base of more than 60 million and its Instagram account has 7.2 million followers.

Flipkart's Bet on Start-Ups

Last year, Flipkart also partnered with the Department for Promotion of Industry and Internal Trade (DPIIT) to support and empower tech start-ups across India. The collaboration aimed at catapulting on existing efforts under the Flipkart Leap and Ventures initiative with its $100 million fund.

So far, it has invested in 20 start-ups. The tie-up enabled access for start-ups to industry reports, research papers, datasets and other studies published by government authorities for market research and fast-track patent applications filed by start-ups for timely opportunities.

"The MoU creates synergy for a thriving environment to enable start-ups to scale new heights. It also accelerates the transformation of ideas into impactful solutions, strengthening India's position as a global innovation leader," said Joint Secretary Start-up India Sanjiv.

Flipkart aims to unlock opportunities for entrepreneurs with $100 million venture fund to pioneer breakthroughs that shape the future of technology and business in India and beyond. Under this, it provides resources, guidance, and support for different milestones, such as prototype development and offer connections and insights for international expansion.