Wallet picked

What happens to FreeCharge?

The mobile wallet was one of the largest acquisitions in the consumer internet space in India. Now it is getting an indecent burial


Around $400 million. That’s how much Snapdeal paid to acquire FreeCharge in April 2015. A significant part of the transaction was in stock. Still, Snapdeal paid out $80 million in cash. Plus, when the acquisition happened, FreeCharge had about $80 million in the bank. At the time, this acquisition was celebrated. It was the largest deal in the consumer internet space in India. Bigger than Flipkart’s acquisition of Myntra ($300 million stock and cash). Cheerleaders heralded the coming of a bigger, stronger Snapdeal plus FreeCharge e-commerce combination; one, which…

To access this content, you must purchase Monthly Recurring or Quarterly, or log in if you are a member.

Read the full story now. Subscribe to The Ken

Stories on The Ken are available only for its subscribers. Join us now to get instant access.

Have an account?

Related stories

More stories in /Reportage & /Startups

See all in Reportage & Startups

This story is exclusively for premium subscribers. Subscribe now to get access.

Read the full story now. Subscribe to The Ken

Why should I pay for reading your stories?

Lots of effort We go to lengths to put in time and resources required to get the most factual, honest stories out there.

Advertising independent Our primary allegiance will always be to our readers. We won't be swayed by our advertisers and investors.

We can't do all of this by giving away our journalism for free and selling our readers by the thousands to advertisers.

Get premium access