Snapdeal Acquired Freecharge

Snapdeal Acquired Freecharge

On April 8th 2015, Snapdeal announced that it has acquired FreeCharge to build the most impactful digital commerce ecosystem in India. FreeCharge and Snapdeal were founded in 2011 and 2010 in Mumbai and New Delhi respectively. Kunal Bahl (Co-founder of Snapdeal) and Kunal Shah (Co-founder FreeCharge) knew each since then and have been in discussion for some time now.
The financial details of the deal were not disclosed by either company.
Now with this acquisition:
1.With this acquisition, Snapdeal claims to be the largest mobile commerce company in India.
2.FreeCharge will continue to function as an independent platform and all aspects of FreeCharge’s shopping experience will remain intact. Kunal Shah will become CEO.
3.Integration will take almost six months.
4.The 200 employees of FreeCharge continue with the company which will now witness some aggressive hiring.
5.Snapdeal now has seven major subsidiaries – Snapdeal, Exclusively.in, RupeePower, TV-Shop, Snapdeal Plus, Gojavas and FreeCharge.

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