Flipkart, one of the leading online retailers in the country has bought the digital catalogue of Chakpak.com, a Bangalore based bollywood content provider that has been defunct from some time. Before the announcement of the deal, there has been speculation in the industry about it and believed to be inked some months back. The exact terms of the deal and financial details have not been disclosed.
Chakpak.com, founded in 2006 was started by Gaurav Singh Kushwaha and Nitin Rajput with seed fund raised from Erasmic Venture and second round of funding from Canaan Partners. It used to offer news, updates, photos and videos of Bollywood, Telgu and Tamil celebrities. Under the light of deal Nitin Rajput, one of the founders of Chakpak, has joined the FlipKart team.
In fact, before this deal, Flipkart has acquired MIME360, a Mumbai based company that facilitates digital media content owners and content publishers to a common digital platform. Chakpak’s digital catalogue buy-out has indicated Flipkart’s aspiration for strengthening its digital distribution to launch digital downloads on flipkart.com.
In an email response to iamwire query about the deal, Flipkart said “Flipkart.com has bought the rights to Chakpak’s digital catalogue. Chakpak is the largest online community for Indian entertainment and Flipkart now has complete access to this content. Nitin Rajput, one of the founders of Chakpak, has joined the Flipkart team.”