This is the Big News This Morning in Online Internet Industry, India’s largest online marketplace Snapdeal Acquires FreeCharge which is India’s fastest growing mobile transactions platform. According to Economic Times & Other Sources that Snapdeal Buys Freecharge for $450 million that is Rs 2,800 crore. but still the Company did not disclose the deal size. As last year flipkart acquired Myntra at a value of $330million.
FreeCharge is India’s leading mobile commerce platform where users can pay their mobile, DTH and utility payments across most major operators. Freecharge claims that it has 15 million users in india & 10+ Million App Downloads. Earlier Freecharge got investment from the investors like Sequoia, RuNet, Sofina, Valiant Capital Partners & Tybourne Capital Management. Freecharge is growing day by day as it has 200+ Employees & they will now work & function as independent Platform with all the shopping experience will remain intact.
Kunal Bahl, Co-Founder & CEO, Snapdeal said “The age of monolithic ecommerce platforms is over; it is now time to build an impactful digital commerce ecosystem in India that is multidimensional and inclusive, delivering well defined experiences to consumers.” on the other hand Kunal Shah, Co-Founder & CEO, FreeCharge said that “Snapdeal and Freecharge together we build the Most Impactful Digital Commerce Ecosystem in India. This is being recognized as one of the most significant acquisitions in the history of the internet industry in the country, making us together the Largest Mobile Commerce Company in India.”
Kunal Shah the Co-Founder & CEO of Freecharge Uploaded a pic with the awesome news on Facebook & Twitter.
Freecharge & Snapdeal Both the Companies Played a well Beautiful Dil ki deal on Twitter: Here is the Snapshot:
Some More Picture From the #DilKiDeal Snapdeal + Frecharge = India’s largest mcommerce firm.
Checkout the Official Youtube Video about Snapdeal & Freecharge Merger Snapdeal