FlipKart buys LetsBuy to Compete with Junglee for $20 – $25 mln

Flipkart.com, Top Indian retail website, acquired Letsbuy.com in order to compete with the Amazon’s new Indian Shopping Site Junglee.com.¬†Flipkart havent disclose the value, but a person with direct knowledge have said it was in the range of $20 million to $25 million.¬†Letsbuy is India’s second largest retailer in electronics, Flipkart said.