E-commerce major Flipkart has acquired a majority stake in digital infotainment platform Pinkvilla India for an undisclosed amount.
The acquisition is part of Flipkart’s broader strategy to expand its content footprint and enhance engagement with Gen Z and millennial audiences, leveraging Pinkvilla’s established brand, capabilities, and loyal audience base, the e-commerce major said in a statement .
“Our acquisition of a majority stake in Pinkvilla is a critical step in our mission to deepen our engagement with Gen Z. 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,” Flipkart senior vice president, corporate, Ravi Iyer said.
Flipkart’s rival Amazon already has a deep presence in the content business through its platform Amazon Prime.
Flipkart said that movies and celebrities play a significant role in shaping trends and influencing consumption habits, and with a majority of Gen Z users consuming content on these themes, the acquisition of a leading infotainment platform is a natural fit as Flipkart enhances its appeal to this audience.
