Snapdeal has acquired online mobile recharge platform FreeCharge.
“We want to target the new tsunami of users who are going to come on to the Internet. This (acquisition) improves our ability to acquire users at a significant velocity at a very low cost,” said Kunal Bahl,the cofounder and CEO of Snapdeal.
“The partnership with Snapdeal comes at the right time, I foresee this as an opportunity to accelerate our roadmap in India and reach out to millions of users across the country,” FreeCharge co-founder and CEO Kunal Shah said.
After the acquisition, FreeCharge will continue to operate as an independent platform and introduce new things in the category they operate in.
Financial details of deal unknown.
Snapdeal.com is an online marketplace, New Delhi, India. The company was started by Kunal Bahl, a Wharton graduate as part of the dual degree M&T Engineering and Business program at Penn, and Rohit Bansal, an alumnus of IIT Delhi in February 2010.
FreeCharge is India’s leading website for online recharge for Prepaid Mobile, Data Cards, DTH and Postpaid Mobile Bill Payment.
