India: Flipkart group firm Myntra acquires Rocket-backed rival Jabong for $70m

India: Flipkart group firm Myntra acquires Rocket-backed rival Jabong for $70m

Image sourced from Jabong's Twitter page

Ending months of speculation on the much talked about sale of fashion e-commerce company Jabong, rival Myntra, a Flipkart group company, has pipped competition to acquire the Rocket Internet-backed company for $70 million in an all-cash deal.

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