Snapdeal Acquires FreeCharge For An Undisclosed Amount
Indian online retailer Snapdeal has announced that it has acquired popular mobile recharge firm FreeCharge for an undisclosed amount. Snapdeal says that with this acquisition it has became the largest mobile commerce company in India. Even though the Jasper Infotech owned brand (Snapdeal) hasn’t made the details of the deal public, industry experts pegged the deal to be worth $400 million in cash and stock. This is the biggest acquisition in the Indian e-commerce industry. Flipkart’s <a href="https://www.crazyengineers.com/threads/flipkart-myntra-a-proposed-merger-thatll-dominate-indian-e-commerce.73031">Flipkart + Myntra. A Proposed Merger That'll Dominate Indian e-Commerce.</a> had cost the former about $300 million. FreeCharge was founded by Kunal Shah of Accelyst Solutions Pvt. Ltd in the year of 2010, the same year Snapdeal came into existence.
So what is going to change as CEOs Kunal Bahl from Snapdeal and Kunal Shah from FreeCharge sign the dotted line? First of all, the integration of both the companies will take six months to complete. FreeCharge will continue to work as an independent platform and customers will experience no changes in their experience on the website. Snapdeal and FreeCharge will try to plan to integrate both of their services wherever possible. FreeCharge says that it will manage to entice the millions of Snapdeal users with this deal. #-Link-Snipped-# speculates that this deal will encourage a hiring spree at FreeCharge which consists of 200 employees.
The news of the deal disclosed on Twitter in a comical manner on SnapDeal and FreeCharge feeds. Snapdeal proposed to FreeCharge asking it to recharge its life and FreeCharge accepted the proposal. As you peruse though the tweets below, we would like you to speculate how this deal will affect customers and report your views in the comment section below.
Source: #-Link-Snipped-# & #-Link-Snipped-# Blogs
So what is going to change as CEOs Kunal Bahl from Snapdeal and Kunal Shah from FreeCharge sign the dotted line? First of all, the integration of both the companies will take six months to complete. FreeCharge will continue to work as an independent platform and customers will experience no changes in their experience on the website. Snapdeal and FreeCharge will try to plan to integrate both of their services wherever possible. FreeCharge says that it will manage to entice the millions of Snapdeal users with this deal. #-Link-Snipped-# speculates that this deal will encourage a hiring spree at FreeCharge which consists of 200 employees.
The news of the deal disclosed on Twitter in a comical manner on SnapDeal and FreeCharge feeds. Snapdeal proposed to FreeCharge asking it to recharge its life and FreeCharge accepted the proposal. As you peruse though the tweets below, we would like you to speculate how this deal will affect customers and report your views in the comment section below.
Source: #-Link-Snipped-# & #-Link-Snipped-# Blogs
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