Within five months of acquiring LetsBuy.com, FlipKart has shut down the website and has integrated its operations. FlipKart had acquired LetsBuy.com in February 2012. LetsBuy.com was founded by Hitesh Dhingra (founder and CEO) and Amanpreet Bajaj (co-founder and COO). Manish Vij, the co-founder of the Vun Network, and Nitin Gupta (former country manager, South Asia at MasterCard and former president and COO at Rediff.com) had made angel investments in LetsBuy.com.
“Thank you for your valuable patronage to LetsBuy.com. In order to further improve your shopping experience, we have integrated our operations with the largest player in the category – FLIPKART.COM. We are redirecting all our visitors to Flipkart.com where you can avail the same exciting offers on the entire range of products,” a note on LetsBuy’s homepage said. For LetsBuy’s existing customers, order history and status remains secure and they can get all details about your existing orders by dialing : 0124 4901234 (from 8 AM to 9 PM ).
Meanwhile, Manish Vij, co-founder of the Vun Network, which initially funded LetsBuy, tweeted, “The sad demise of #Letsbuy today - acquisitions get both the good and the bad with them.” In a similar development, SnapDeal had shut down eSportsBuy.com, an e-retailer of sports goods and fitness equipment after acquiring it in April 2012, TechCircle reports.
