India’s third-largest private-sector lender Axis Bank snapped up beleaguered digital wallet firm FreeCharge for $60 million (Rs 385 crore) last week. In the process, it pipped other suitors such as bigger digital wallet firms Paytm and MobiKwik, e-commerce major Amazon, payments firm PayPal, Airtel Money and South Africa’s Internet group Naspers.
不过最近，有消息称虽然 Flipkart 已经完成了尽职调查，但双方交易还是遇到了一些障碍，因为 Snapdeal 公司董事会已经拒绝了 7-8 亿美元的收购报价。
Snapdeal is finally selling off FreeCharge, its mobile transactions platform, to private sector Axis Bank. The bank said in a communication to the Bombay Stock Exchange that it has entered into a share purchase agreement with Jasper Infotech Private Ltd, Snapdeal parent, to acquire 100 percent equity in FreeCharge for a consideration of Rs 385 crore.
Global e-commerce major Amazon.com Inc. has reportedly thrown its hat into the ring to snap up FreeCharge not only to ramp up its presence in the Indian payments space dominated by players such as Alibaba-backed Paytm, but also to steer ahead of homegrown rival Flipkart.
American online retail giant Amazon has infused $20 million (Rs 130 crore) in Amazon Pay, with the much talked about wallet services for third-party payments finally rolling out in India.
With FreeCharge to be acquired Paytm and MobiKwik a distant second, there is only one clear leader in the digital wallet space currently. Paytm has surpassed several others in this segment and positioned itself well to rise the demonetisation wave.
Paytm and MobiKwik, India’s largest mobile wallet companies, had better pad up for their biggest competition yet. For, Amazon is preparing to enter the mobile recharge segment, which accounts for nearly one-third of spending on mobile wallets, with Amazon Pay.
Snapdeal recently expanded their e-commerce marketplace to include more service offerings through a ‘one-of-a-kind partnership’ with Zomato, Cleartrip, UrbanClap, and redBus. Now in a recent interview with Livemint, Kunal Bahl, CEO, Snapdeal, said that the company is now focusing on net revenue instead of gross merchandise value (GMV) and the new focus is part of another big change at the e-commerce marketplace.
On June 8, American e-commerce major Amazon announced an additional $3-billion investment in India, making clear its intention to win in the country. This throws up a massive challenge for all homegrown e-commerce companies, among which Snapdeal could be hurt the most.
Both will acquire 50 companies this year, prompting PayTM and Amazon to draw up similar plans.There is a dearth of talent in India, more so on the engineering side because only 10 pe rcent of the Indian engineers are employable. Snapdeal and Flipkart, having realised that training engineers is expensive and can also take time, are on the lookout for startups to boost their engineering skills.
Snapdeal is seeking to emulate social media giant Facebook in the commercial media space as it looks to expand its footprint. Kunal Bahl, CEO & co-founder, Snapdeal, is creating a clan of apps, just the way Facebook did with FB, Whatsapp, Instagram and Messenger. “Facebook had become a monolithic platform; now, they have a bunch of popular apps,” said Bahl.