Friday, 24 March, 2023

Flipkart acquires Toutiao for $1 billion, enters Indian content market.

<p>Flipkart has announced the acquisition of InShorts&#39; parent company, Toutiao for $1 billion, marking the e-commerce giant&#39;s entry into the Indian content space. Toutiao is an AI-based news aggregation platform, with InShorts as its Indian unit. This acquisition will allow Flipkart to offer a personalized content platform to its users, along with its e-commerce services.It also signals Flipkart&#39;s move into a more diverse set of offerings to attract and retain users.</p>