Flipkart acquires major stake in Pinkvilla, aims to target Gen Z

Flipkart announced acquiring a major stake in Pinkvilla India Private Limited, a digital infotainment platform. The acquisition aims to expand its reach and "deepen engagement with Gen Z audience", stated Flipkart Senior Vice President Ravi Iyer. The deal has been finalised and is subject to closing conditions, with both companies expecting to close the transaction soon.