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Flipkart in talks to invest in Indian e-commerce brands to gain edge of Amazon

Flipkart in talks to buy Indian e-commerce brands Swiggy, UrbanClap and UrbanLadder to strengthen its presence

Indian e-commerce giant Flipkart is touted to invest in food delivery app Swiggy, lifestyle services firm UrbanClap and online furniture seller UrbanLadder to further strengthen its position in the Indian market and gain an edge over rival Amazon.

Flipkart is also expanding into newer businesses and working on offering insurance and wealth management products. To launch this business, it has considered buying a stake in fintech start-ups, as reported by Livemint.

Flipkart's ambitions expansion plans have been boosted by investment from SoftBank Microsoft, eBay and Tencent. Flipkart was reported to buy a stake in ticketing platform, BookMyShow earlier this year but the deal hasn't materialised yet.

Flipkart, since inception, has bought or invested in over 20 companies. Its largest acquisition remains online fashion retailer Myntra for more than $330m in May 2014. Flipkart also recently completed the merger with eBay, despite the snapping of a Snapdeal merger.