Snapdeal’s Acquisition of freecharge (April 2015)

 

Snapdeal has acquired Freecharge, the mobile recharge and discount coupons app for an estimated $400 million . The deal is said to be 30% in cash and 70% in stock. Both companies are PE-backed.
FreeCharge founder Kunal Shah will serve as CEO of Freecharge and the current CEO, Alok Goel, wil be given a separate responsibility in Snapdeal. Sequoia Capital India, a major investor in FreeCharge, will get a 3% shareholding in Snapdeal following the deal. 

 

Source:- http://timesofindia.indiatimes.com/business/india-business/Snapdeal-buys-Freecharge-for-400m/articleshow/46857876.cms? http://www.bseindia.com/xml-data/corpfiling/AttachLive/6498b1a1-14d2-4e9b-84f3-73be38c2aed6.pdf

                               Target Company

COMPANY

COMPANY TYPE

 

Freecharge

Unlisted

INDUSTRY

 

SECTOR

IT & ITES

Online services (mobile recharge & discount coupons)

CITY (TARGET)

 

COUNTRY (TARGET)

 

Mumbai

India

 

 

                            Acquiring company

COMPANY

COMPANY TYPE

 

Snapdeal.com

Unlisted

INDUSTRY

 

SECTOR

 

IT & ITES

E-Commerce

CITY (acquiring)

 

COUNTRY (acquiring)

 

Delhi

India