Around the Net

Mobile Motivates Snapdeal, Freecharge Mega-Merger

  •, Friday, April 10, 2015 10:57 AM

Even if you are living in a cave, this news must have reached you: Snapdeal acquired Freecharge for an undisclosed sum; speculations are rife that the deal is in the range of $400-450 million, with stock and equity transfers. Last year in February, I attended an IAMAI event where Freecharge founder Kunal Shah was a panelist for a discussion regarding entrepreneurship. He had shared the challenges of building a startup and how they acquired their first 50,000 customers. For instance, they met McDonald’s management atleast 35 times before they said yes to their proposal of free coupons based on mobile recharges. Today, after this acquisition which has been termed as one of the biggest Indian ecommerce has ever seen, SnapDeal and Freecharge together have a 40 million+ ‘customers’ and total of 30 million+ application downloads. Freecharge app alone has 10 million downloads. 1 million + daily transactions would now be handled by both of them.

Read the whole story at »

Next story loading loading..