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Snapdeal buys mobile recharge platform Freecharge

saswat23

Human Spambot
Snapdeal has acquired mobile recharge platform Freecharge in a deal that is billed as the largest Indian buy out so far in the consumer Internet space. The company did not disclose the deal size, which according to sources could be over $400 million in cash and stock.

"Together we represent the largest m-commerce company in the country now," said Kunal Bahl, CEO & Co-founder of Snapdeal.

ET had reported that the ecommerce major is in advanced talks to buy online mobile recharge platform Freecharge for $450 million (Rs 2,800 crore) on March 12. The deal is larger than Flipkart's $300 million acquisition of its smaller rival Myntra in May last year.

Source: Snapdeal buys Freecharge in biggest startup M&A - The Economic Times

Snapdeal acquires FreeCharge | Business Line

Snapdeal pays up for a Freecharge! | Latest News & Updates at Daily News & Analysis


I think soon we will see only three major players exist in the online market; Flipkart, Snapdeal & Amazon :|
 
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$hadow

Geek in making
I don't know where is the company law going on this. There has to a competition but we are moving towards monopoly.
 

kkn13

Cyber Genius FTW
e-commerce is still a grey area in terms of laws in India
scamsters such as snapdeal shouldnt be in the market imho
my cousin always gets defective,fake or opened products
its very obvious what they are upto
 

kg11sgbg

Indian Railways - The Vibrant and Moving INDIA
e-commerce is still a grey area in terms of laws in India
scamsters such as snapdeal shouldnt be in the market imho
my cousin always gets defective,fake or opened products
its very obvious what they are upto

In reality under this Govt. no way stopping Snapdeal.
 

$hadow

Geek in making
e-commerce is still a grey area in terms of laws in India
scamsters such as snapdeal shouldnt be in the market imho
my cousin always gets defective,fake or opened products
its very obvious what they are upto

So why don't he stop shopping from snapdeal :-D:-D
 

GhorMaanas

The Vagrant Seeker
In reality under this Govt. no way stopping Snapdeal.

atleast 2 such ventures (although small) have been raided and shut down in the recent past. if it doesn't mend its ways, then hope SD generates enough alarming-signals (and additionally, of the 'proper'/'correct' kind) and thus the deserved traction about & around itself to warrant such an action against it. but in actuality, they have roped in celebrities like aamir khan now & have been peddling mushy-mushy (and) fancy ads to sell themselves, and am sure more of the public now would begin falling for them and eventually bruise themselves hurtfully.
 
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kkn13

Cyber Genius FTW
So why don't he stop shopping from snapdeal :-D:-D

he only ordered twice and it was pretty obvious the incidents werent stray

- - - Updated - - -

In reality under this Govt. no way stopping Snapdeal.

there is
basically our current laws arent updated for e-commerce hence these scammers are within the law until updated laws come into place
Laws are slowly coming into place to cover this loophole now
 

kg11sgbg

Indian Railways - The Vibrant and Moving INDIA
there is
basically our current laws arent updated for e-commerce hence these scammers are within the law until updated laws come into place
Laws are slowly coming into place to cover this loophole now
+1, for this plausible factual explanation.

To speak out frankly + truthfully , I never met any issues or problems till now whatever I purchased from Snapdeal...
 

$hadow

Geek in making
+1, for this plausible factual explanation.

To speak out frankly + truthfully , I never met any issues or problems till now whatever I purchased from Snapdeal...

Good luck with that coz I have seen a great 90% failure rate with my friends purchases.
 

GhorMaanas

The Vagrant Seeker
true. neither this growing industry is regulated here with an assiduous e-commerce law to monitor it, nor is it directly contributing to the economic growth of the nation, contrary to what the scene is/has been in the west, where the industry usually finds its roots from. flouting the norms of FEMA, FDI, predatory pricing et al is a kind of routine business for the players, and the attention of bodies like ED falls on them only when something of big proportions comes up (suspicions & allegations regarding business-models, money-sourcing, etc.). that's why usually (whatever) smalltime ventures/players have been forced to shut their shops, in some states, after receiving of a large no. of complaints via the cyber crime cells. probably that has to do with law & order being a state-subject. but the GoI i think had assured last year to look into the matter and formulate a proper law if needed, or include additional dedicated provisions in the existing Acts. till then (supposing that it happens later on), consumer protection laws/courts and cyber crime cells are probably the only possible recourses to bank upon. these e-portals gradually transitioning to marketplace business models seems to be a clever trick. whenever complaints regarding frauds are placed against them, one of their first lines of defence is usually that we are just service-providers for seller & customer and blah blah blah, and they slip away. something should be devised to tactfully circumvent their ruses & arm-twist them into submission!

i also have purchased quite a few items from SD in particular, but most purchases were made during their heydays, and most, if not all, were low-value items. even till last year, i have read people getting costly products like ICE components, GPUs, etc. from them without any apparent issues. however, such cases were few, and are increasingly being outweighed by reports of botched up deals & the customer-care torture-sessions, as $hadow too affirms. although admittedly, i have also read that they are usually do refund the amount for deals gone awry; or perhaps that too has become a thing of the recent past now. don't know.
 

$hadow

Geek in making
Actually fk might be having a very little impact on myntra but SD has nearly killed free charge.
 
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