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

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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…

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