Seems, e-commerce segment in India is moving towards throes of consolidation. Its beginning was evident when Flipkart bought the second largest e-commerce service Letsbuy 5 months ago. According to a latest update, Letsbuy.com  has announced that it is shutting down its operations. 

It is reportedly said, now Let’sbuy’s team, the infrastructure and talent has been integrated with Flipkart. As a result, Flipcart has become number one e-commerce portal in the country in terms of users and sales. 

Reliable sources informed, users of Letsbuy are getting a message on the website – Flipcart has integrated its operations with Letsbuy and they are redirecting all the visitors to Flipcart.com where they can avail the same exciting offers on the entire range of products.  

Market watchers believe, Flipkart is in a strong position as they have got a chance to improve its logistics, operations and product portfolio with the help of its closest rival in the Indian e-commerce space.

As a matter of concern, it is found, Letsbuy was valued at $20-25 million in comparison to the $850 million valuation of Flipkart when the acquisition was going through. 

Check out more IT news at itvoir.com