Flipkart is buying Letsbuy.com

This news is quit strange...they r the biggest e-commerce/online retail site in India...This buyout is a loss to consumers :-x

Flipkart to finalize LetsBuy.com buyout deal

A report in MediaNama comes in as a confirmation to floating rumours, and it is true that popular online retail brand, Flipkart has bought LetsBuy.com for an undisclosed amount. Although the terms of the said deal haven't been disclosed, the report in an update stated that "LetsBuy’s valuation was between $20-25 million. Another suggests that it is upwards of $25-30 million, depending on the payout."

Source- > Flipkart to finalize LetsBuy.com buyout deal

wHAT weird!!!

Wow!They are buying there toughest competitor? is it good or bad?

D

If thats true,that ll make flipkart 'andre the Giant'

Good for them bad for us.

D

seems like a reaction to amazon.com launching in india

its good, atleast now letsbuy's delivery times will be better!

gameranand said:
Good for them bad for us.

Why bad to us

serpent16 said:
Why bad to us

Flipkart's pricing is a bit higher. With this deal, the only main competitor is going.

This. Instead if abusing patents, just buy the competitor outright. No one will be at loss.

:lol:

Its a real loss to us...due to competition the price comes down...now that biggest competitor is gone flipkart will dominate

Majority of the startups are made to attract others to buy them. Its nothing new, its like the least expected as many speculated amazon would buy out flipkart (and you might never know)

isn't there any monopoly act in online sector??

isn't there any monopoly act in online sector??

I fail to see how Flipkart's a monopoly.

yaa...sad news..no competetors now...hope amazon comes up strongly to avoid market monopoly.

Let's face it. Letsbuy was very unreliable. Hope their service improves now.

If it is true, then very bad time lies before us. No competition in Indian market = unrealistic high price at flipkart.

Flipkart is no longer what it used to be, its prices have soared up, discounts on books have decreased, they had also stopped coupons for some time now, that's one more site going down, if they did not have COD they would have suffered a lot by now.

On a related news, ebay india now offers COD on some items.

tkin said:
On a related news, ebay india now offers COD on some items.

For example? I mean any tech related products?

Lets just hope..flipkart keeps the discounts as it is...I have been observing a product in flipkart for the last 5 days..Each day the price is different once it was 435 then it became 520 now its back to 460

Hey guyz check letsbuy
There having a clearance sale
But what will flipkart achieve ?Only some more customers and revenue...Will they offer new products and more discount then?

D

Its official now,Flipkart has acquired Letsbuy. Sachin Bansal,flipkart co-founder told in a press conference. Howeva the deal amount is undisclosed.

d6bmg said:
If it is true, then very bad time lies before us. No competition in Indian market = unrealistic high price at flipkart.

if the prices hike...we'll get it from the local vendors :lol:

what say???

Really guys, stop it with the monopoly crap. There are enough e-retailers around to provide competition. Flikart's service was undoubtedly the best so it had no competition anyway. As for pricing, yes it is increasing but you can't always get the best service for the least price. There is always some trade-off. I think price is a minor trade-off for peace of mind,

Krow said:
Really guys, stop it with the monopoly crap. There are enough e-retailers around to provide competition. Flikart's service was undoubtedly the best so it had no competition anyway. As for pricing, yes it is increasing but you can't always get the best service for the least price. There is always some trade-off. I think price is a minor trade-off for peace of mind,

Ya your right flipkart has the best delivery and service,Who knows the deal might keep the prices less.

Good , its giant now.

Its too bad. In many instances, Flipkart price is higher than lets buy. And Flipkart doesn't have discount coupons

^Decide what you want. Cheaper price or better service. Once you do that, you wil be happy.

And if we want peace of mind, then better buy from retail store.
Most people buy online because its cheap. Yesterday I bought Logitech C110 webcam which price on Flipkart is Rs 900+, in eBay RS 699+shipping(Rs 50) and I bought it from a local shop at Rs 720.

sujoyp said:
This news is quit strange...they r the biggest e-commerce/online retail site in India...This buyout is a loss to consumers

Flipkart to finalize LetsBuy.com buyout deal

Source- > Flipkart to finalize LetsBuy.com buyout deal

chk it ..
Flipkart acquiring LetsBuy is a rumor: Hitesh Dhingra — Entrepreneur India

WOW !! Great to hear that. We really need tough competitors. Else the situation will be like Hard Disk manufacturers with no tough competitors and price seem like never going to fall back.

Wtf ! I hate rumors. :-x

A

NO real Competitor will be out there and prices will not be checked.. Bad for us

bubusam13 said:
And if we want peace of mind, then better buy from retail store.
Most people buy online because its cheap. Yesterday I bought Logitech C110 webcam which price on Flipkart is Rs 900+, in eBay RS 699+shipping(Rs 50) and I bought it from a local shop at Rs 720.

Nice way to miss the point.

I was talking about online stores. Better to know for sure that your order will reach in time than wait for days and fight with customer care. ;-)

To all those ranting...Imagine...if letsbuy bought flipkart? :shock:

Letsbuy's days were numbered anyways. Their discounts ended and their service apathies were growing.

bubusam13 said:
WOW !! Great to hear that. We really need tough competitors. Else the situation will be like Hard Disk manufacturers with no tough competitors and price seem like never going to fall back.

When I last inspected, Flipkart does manufacture nothing.
and there are many competitors - even the local dealers are competitors for the products sold @ flipkart.

@sarath: I remeber your woes about letsbuy service long back :mrgreen:

funskar said:
chk it ..
Flipkart acquiring LetsBuy is a rumor: Hitesh Dhingra — Entrepreneur India

Ah! At last! Peace of mind.
Competition = better service.

Just read it via Digits twitter channel that the acquisition had been completed.

Anish said:
When I last inspected, Flipkart does manufacture nothing.

I am not talking about Flipkart manufacturing anything. Flipkart is a online reseller and not manufacturer.

Krow said:
Nice way to miss the point. I was talking about online stores. Better to know for sure that your order will reach in time than wait for days and fight with customer care.

I agree Flipkart have complete peace of mind and COD adds to it.
I just want to say what we expect from a online store --"Cheap and secure delivery without any hassle", else local shop is better. If Flipkart is pricy, people will go to shops and not online via Flipkart. As far delivery is concerned, you are right, Flipkart is best.

*29.media.tumblr.com/tumblr_luaa4eiDBO1qbkfyho1_400.png

The way I see the merger is that, two of the giants are getting married. So, I am expecting better results.

If Flipkart's awersome service combines with the low prices and discounts of Letsbuy, that would have a potential to kick a$$ every major online retail shop including Amazon.

But if it becomes the other way round... then Amazon zindabad. :lol:

Flipkart should not forget that, we as consumers will have choice.

bubusam13 said:
I am not talking about Flipkart manufacturing anything. Flipkart is a online reseller and not manufacturer.

Since you've compared flipkart with harddisk manufacturers, I tried to tell that manufacturing competition is different than reselling competition.

*i.imgur.com/MnhJ7.gif

Man !! use logic. Should I write here a huge explanation. Be it Hard Disk manufacturers or resellers, competition is everywhere. Competition may be different but it leads to one conclusion "Low price better quality". Now you can count on this statement to get what I am talking about. Competition will lower prices.

@d6bmg Nice one.

I doubt that this would have been approved in USA. Letsbuy was indeed strong competition for flipkart. Now any other left except junglee(amazon india), ebay, infibeam?

Krow said:
^Decide what you want. Cheaper price or better service. Once you do that, you wil be happy.

Flipkart has made three major blunders already with my orders...of which one was a bad comedy of 200 different errors...

If a 7970 that costs more than a 6990 is only a slight price increase for you...then I have nothing at all to say to you.

bubusam13 said:
Man !! use logic. Should I write here a huge explanation. Be it Hard Disk manufacturers or resellers, competition is everywhere. Competition may be different but it leads to one conclusion "Low price better quality". Now you can count on this statement to get what I am talking about. Competition will lower prices.

No offense bro.. but I tried to say that the thing about hard disk is manufacturing - (A new company started should invest hell a lot of money) and we know there are no competitors
But a reseller always has competitors if flipkart buys letsbuy too, it has competitors such as koovs, indiavarta, indiaplaza, snapdeal, suleka etc. And starting such business is also not costly when compared to manufacturing hard disks..

anyways.. the discussion ended...and its told that its a rumor. cool :wink:

Extreme Gamer said:
Flipkart has made three major blunders already with my orders...of which one was a bad comedy of 200 different errors...

If a 7970 that costs more than a 6990 is only a slight price increase for you...then I have nothing at all to say to you.

If I were you, I would report the price problem to Flipkart instead of thinking of it as a major unforgivable blunder.

As for the bad experiences, you probably are just unlucky (read bad experiences with Flipkart, your motherboard and what not). Their services have mostly been reliable (check online shopping guide and feedback thread). The best part is that they acknowledge their errors and own up to them (in my experience over the past year or so).

If you judge a website by your experiences only, then it applies only to you. Not everyone else in India.

d6bmg said:
For example? I mean any tech related products?

CASH ON DELIVERY - SIMPLE STEPS TO PURCHASING - eBay India

Cool... no room for rumors. Discussion ended. Thread should be closed.

tkin said:
CASH ON DELIVERY - SIMPLE STEPS TO PURCHASING - eBay India

Thanks for the link.

bubusam13 said:
I just want to say what we expect from a online store --"Cheap and secure delivery without any hassle", else local shop is better. If Flipkart is pricy, people will go to shops and not online via Flipkart. As far delivery is concerned, you are right, Flipkart is best.

Flipkart is cheaper than the local shop but not as cheap as you want it to be. That's where letsbuy comes into picture.

There is nothing like the luxury of having your product delivered at your doorstep and that too on COD. Some people prefer that.

Sarath said:
Flipkart is cheaper than the local shop but not as cheap as you want it to be. That's where letsbuy comes into picture.

I don't agree with you. Look for Logitech C110 webcam on Flipkart, Rs 904. I bought locally for Rs 720. Look Intex Night Vision webcam Rs 656, locally available for Rs 400. Look for cabinet CM Elite 310. There are other products also like RAM, PSUs priced high.
Though most are low, few are highly priced.

Faun said:
There is nothing like the luxury of having your product delivered at your doorstep and that too on COD. Some people prefer that.

Yes, he he. One reason I Use Flipkart. Plus I save on Petrol ha ha

Some how among my 6 purchases from Letsbuy so far.. I have received perfect delivery with online payment as well as COD. I have nothing to compain against them. And this deal for me is real bad. I trusted only Flipkart and Letsbuy for online shopping.. and mostly ended up buying from Letsbuy due to cheaper prices. This deal can only be because Letsbuy was increasing their inventry like anything.. offering a lot more products than Flipkart, and with higher prices, Flipkart would soon have lost hopes of survival. To avoid that, they needed to buy the comparatively new Letsbuy. This will help boost their business as well as help them compete against the new boys in town like Adexmart and others. Plus, if Amazon.com is starting in India, it is a big threat to both of them, that may have led to the merging of the two.

While Letsbuy, along with its 350-member team, will continue to function independently, it can now access Flipkart’s technology platform and supply chain capabilities.

Flipkart buys Letsbuy in a cash-equity deal

Hope price don't increase. Else it would be great.

Flipkart buys electronics retailer Letsbuy for $25m

MUMBAI: In a big consolidation move for the burgeoning Indian e-commerce market, the poster boy of Indian online retail - Flipkart.com - has bought out electronics retailer Letsbuy.com for an estimated $25 million. Both sites are backed by common investors - Tiger Global Management and Accel Partners. Although no details were made available by the company or the investors about the deal value and the structure of the transaction, TOI has learnt that Letsbuy.com had been on the block for a while and was looking for a valuation of about $80-85 million but had to finally resort to a distress sale after finding no takers at that price.

People familiar with the situation said the online portal, which was founded in 2009 by Hitesh Dhingra and Amanpreet Bajaj, was in desperate need of funding but could not muster it from the existing investors. When asked about investors wanting to push for this consolidation, Sachin Bansal, CEO & co-founder, Flipkart.com, told this paper, "We will not be doing anything which is not in line with our long-term business goals. All investors have been supportive as they see value creation for both companies. Helion, the lead investor at Letsbuy, also believes that the combined strength of the two leading players is formidable. While we do not have a set budget for acquisitions, if the time and price is right (as was the case with this deal) we will be open to more such opportunities." Bangalore-based online retailer Flipkart, which started off as an online book seller but now has a diversified product line, has been eyeing a $1-billion valuation.

TOI has also learnt that another online start-up, Exclusively.in, backed by the same investors (Accel, Tiger and Helion), has sacked several employees and is up for sale. The founders of the fashion flash sales site are now focusing their resources on their private label portal, SherSingh.com. "Currently we are running Exclusively.in but we are focusing on our private label business which requires less human capital," said Sunjay Guleria, CEO & co-founder, Exclusively.in and SherSingh.com, which has raised $19million so far.

so we see consolidation already taking place.. FK is going to grab a really large pie of the market

source

Krow said:
If I were you, I would report the price problem to Flipkart instead of thinking of it as a major unforgivable blunder.

Who said price problem is a blunder?? re-read my post- I said they made blunders with my orders.

Rewrite your post. What you think and what you type are two different things.

So its not rumor...

I have written to flipkart about their price problem. In case of complaint for orders, they take action promptly. But in this case they didnt take any action, the price of cabinets, psu and webcam are as it is.

well for Cabinets and PSUs prices are justified, you guys have any idea how much a descent PSU or cabby weighs? Cabbys are easily 10kg+, psus are also 5kg+, but recently other prices are going up, in kol, we can get 16GB USB 3.0 pen drive for 950/-(incl all), see the price in flipkart, bunch of thieves.

tkin said:
in kol, we can get 16GB USB 3.0 pen drive for 950/-(incl all), see the price in flipkart, bunch of thieves.

I was posting about the same point yesterday. Flipkart is very good for those who does not belong to metro cities, but for those who belong to metro cities, flipkart is not worthy & overpriced.

d6bmg said:
I was posting about the same point yesterday. Flipkart is very good for those who does not belong to metro cities, but for those who belong to metro cities, flipkart is not worthy & overpriced.

But prices of books are good, specially bengali books(standard rate of discount is 15% in college street).

^ Neah!
BTW, hoe many people does read bengali books? :unsure:

d6bmg said:
^ Neah!
BTW, hoe many people does read bengali books?

People of West Bengal and Bangladesh reads Bengali books.
And don't underestimate Bengali literature :-x

You don't have any idea about how good is Bengali literature

d6bmg said:
^ Neah!
BTW, hoe many people does read bengali books?

A LOT, if a bengali does not read bengali book he deserves a massive kick in the @$$ :evil:

tkin said:
A LOT, if a bengali does not read bengali book he deserves a massive kick in the @$$

Comon this is too much :mrgreen:

What abt guys like me who r born and grown up in MP maharashtra and donno to read write bengali...for me its just as good as any other language

tkin said:
A LOT, if a bengali does not read bengali book he deserves a massive kick in the @$$

sujoyp said:
Comon this is too much
What abt guys like me who r born and grown up in MP maharashtra and donno to read write bengali...for me its just as good as any other language

You are exempted :mrgreen:

But do learn to read bengali sometime in future.

tkin said:
A LOT, if a bengali does not read bengali book he deserves a massive kick in the @$$

agree ! One must be perfect in his native language.

not justified when CM Elite 310 cost Rs 3948 and elite 311 cost Rs 2117

Buddy, think about those guys who can't get the products they want locally.

yes I know I agree with you all guys. I also buy from flipkart. I never till now purchased from letsbuy. I am just saying CM elite 311 is higher model than CM elite 310. and a price of 3948 for 310 is never justified. its a RS 1700 cabbi. RS(3948 - 1700)= RS 2248, <-- is this what shipping cost ? :O

^^ i never brought anything from lets buy. they don't offer COD in our city.

for computer related stuff, you just need to send a mail to SMC.

Sigh. Another thread which has run its course.

Re: Flipkart buys electronics retailer Letsbuy for $25m

I use to buy more products from letsuy than flipkart...Now they are one....
Apart from that $25m is huge guys....