Snapdeal co-founder and CEO Kunal Bahl has confirmed that the e-commerce marketplace has acquired online recharge and couponing site Freecharge. He also claimed that together, they are now the largest m-commerce company in India. The value and terms of the deal haven't been disclosed, but the deal was pegged at a value of about $450 million (Rs 2,800 crore), which will make it the biggest such deal in the Indian consumer internet industry, eclipsing Flipkart’s acquisition of Myntra for about $330 million. Welcoming @FreeCharge rockstars to @Snapdeal family! Now India's largest m-commerce company! @rohitkbansal @kunalb11 pic.twitter.com/OsfQQizXXz — Kunal Bahl (@1kunalbahl) April 8, 2015 The acquisition was bound to be expensive given the amount of funding that Freecharge has raised. In February, Freecharge raised $80 million from San Francisco-based hedge fund Valiant Capital Management and Hong Kong-based hedge fund Tybourne Capital Management, with participation from existing investors. At that time, it was believed to be valued at about $350 million. Freecharge had also raised $33 million from Sequoia Capital, Sofina and RuNet in September last year. Freecharge claims to have over 20 million registered users and over 85% of its transactions are on mobile. The companies also had a bit of fun on Twitter: .@FreeCharge Hey, psst I have something for you. — Snapdeal.com (@snapdeal) April 8, 2015 @snapdeal Umm...what? — FreeCharge (@FreeCharge) April 8, 2015 .@FreeCharge So will you recharge my life? :D pic.twitter.com/aNaUKss5uW — Snapdeal.com (@snapdeal) April 8, 2015 .@snapdeal Dear god!! I will, I will. it's a deal :) — FreeCharge…
