Snapdeal today announced that it has acquired mobile transactions platform FreeCharge.
With this acquisition, Snapdeal can offer the widest range of products and services, including financial services, mobile recharge and utility payments with an exponentially growing user base of over 40 million.
Speaking about this Kunal Bahl, Co-Founder & CEO, Snapdeal said, “The age of monolithic e-commerce 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. At Snapdeal we are building an ecosystem that powers billions of digital commerce transactions in the country in the coming years. With this game-changing partnership with FreeCharge, we have significantly enhanced our user base and now offer all our customers access to the widest selection of products and services online, making digital commerce an even more intrinsic part of their lives. We are thrilled to have the very talented and supercharged team of FreeCharge, under Kunal (Shah)’s leadership, working as one family, towards creating life changing experiences for buyers and sellers in our country.”
Speaking about the announcement, Kunal Shah, Co-Founder & CEO, FreeCharge said, “FreeCharge is at the forefront of the mobile commerce revolution which is taking place in India right now. We have been ahead of the curve and as a result, 85% of our transactions originate from mobile, these transactions have very high repeat customer behavior. The partnership with Snapdeal comes at the right time, I foresee this as an opportunity to accelerate our road map in India and reach out to millions of users across the country. As a brand, Snapdeal has a massive recall and we are very excited to be a part of the team that is creating the biggest digital ecosystem of the country. FreeCharge’s success was enabled by a team of 200 extremely talented professionals and I would like to extend a special thanks to Alok Goel, Sandeep Tandon and a wonderfully supportive investor base.”
FreeCharge will continue to function as an independent platform and all aspects of FreeCharge’s shopping experience will remain intact. The companies will collaborate to offer a seamless shopping experience to customers across both the platforms offering an even wider range of products and services.