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India's largest online marketplace Snapdeal announced that it has acquired FreeCharge, a mobile transactions platform. This is one of the biggest acquisitions in the history of the internet industry in India and sets up Snapdeal to build the most impactful digital commerce ecosystem in India.
FreeCharge is India's leading mobile commerce platform where users can pay their mobile, DTH and utility payments across most major operators. Every day 75 mn mobile recharges are done in India by a section of India's 800 mn mobile phone subscribers, out of which currently only 3 mn recharges are done online. FreeCharge offers a convenient and efficient solution applicable to hundreds of millions of consumers for paying utility bills, and especially doing mobile recharges, which often ends up being the first e-commerce transaction...