Freecharge has been recharged by Snapdeal for life
Snapdeal, the deal king of India has now acquired the recharge king 'FreeCharge"India’s king of online recharges and bills payment. The news comes in mid of forecast of Indian ecommerce Industry to become a $20 Billion industry. Today on 8th April,2015…. Snapdeal.com announced the acquisition of FreeCharge.
Why this acquisition is big
This acquisition is not just big but it may prove to be the milestone for Snapdeal as online shopping in India is shifting itself from desktop to mobile and hence the kind of work which the company has been giving always is now in online bill payments and recharges. According to an estimate India have 80 crore or 800 million mobile network subscribers. Only 30 lakhs out of total 8 crore transactions are done through online way. This means that the growth potential is 25 times than that of what it is in the current scenario.
What is FreeCharge
For those who do not use FreeCharge, FreeCharge on of the India's largest mobile commerce platform which allows users to pay the bills of the mobile, DTH etc.
What will happen with this aquisition
Because of this combination, Snapdeal will for sure become the largest mobile commerce destination in India with a base of over 40 million customers. This would further help customer to get integrated at one place and they may get the benefit of extra deals and discounts which the company is pushing for its customers. But along with this the universal law of online shopping may say that less the competition, less the discounts.
Anyways lets see what Mr. Kunal Bahl, CEO Snapdeal have to say:
“The age of monolithic ecommerce 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.”
Kunal Shah, Co-Founder & CEO, FreeCharge addressed world saying that,
“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.”
Anyways these two Kunals ( Kunal Bahl & Kunal Shah ) are set to make a history together. Moreover, FreeCharge will continue to work independently and the whole experience would be exactly same. The only difference which is expected is more discounts and offers apparently.
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