wordpress blog stats
Connect with us

Hi, what are you looking for?

FreeCharge to spend Rs 100 Cr for IPL sponsorship & promotions

freecharge

Online payment platform FreeCharge announced that it will be on-ground partner for the Indian Premier League (IPL) for the next two years. FreeCharge’s chief operating office Govind Rajan said that the company will be spending over Rs 100 crore in the sponsorship, alliances and promotions during the cricket tournament.

As the official partner, FreeCharge’s branding will be prominently visible on all major indoor and outdoor platforms of IPL during all the seasons.

This isn’t the first time a digital service has gotten sponsorship with a cricketing event. Earlier this year, Paytm purchased the rights for title sponsorship from the BCCI for all home series to be played in India till 2019. According to the deal,  Paytm would pay Rs 2.42 crore per international match hosted in the country, of which 84 matches are already scheduled. This comes to around Rs 203.28 crore, without counting any matches that might be scheduled in the future.

Previously, smartphone maker Micromax held the rights for a year, after STAR group and Sahara held the rights in the preceding years.

Other developments at FreeCharge

– In October, FreeCharge launched a beta Android app called Juice which tracks talktime and data balance and supports operators like Airtel, Vodafone, Idea, BSNL, Reliance GSM and Aircel.

–  Freecharge launched the digital wallet in partnership with the private sector lender YES Bank. It claimed to have crossed 5 million mobile wallet users in 4 weeks of its launch. The company said that on an average, users transacted over 5 times a month, while an average of 50% users transacted every month on Freecharge.

–  In April, FreeCharge was acquired by ecommerce player Snapdeal for a reported $450 million, the biggest deal in the Indian consumer internet industry.

– 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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

BharatPe has raised $20 million (₹139 crore) through a debt funding round from Alteria Capital and ICICI Bank. The merchant-focused loan and payments app...

News

The Delhi High Court on Monday stayed a penalty issued by the Finance Ministry’s Financial Intelligence Unit (FIU) against PayPal Payments Private Limited, the...

News

A survey by the National Payments Corporation of India (NPCI) found that at least 80% of households now use digital payment apps like Paytm,...

News

In an affidavit filed before the Supreme Court, the Reserve Bank of India (RBI) has said that companies like WhatsApp, Google and Amazon have...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ