MERGER: Snapdeal chief executive Kunal Bahl said 1 million mobile transactions would take place daily once the companies are combined.
BENGALURU/MUMBAI: E-retailer Snapdeal.com said it bought online mobile recharge firm Freecharge for an undisclosed amount in a bid to boost its reach in the fast-growing mobile transactions business.
Snapdeal, backed by SoftBank Corp, competes with Flipkart and Amazon.com Inc's India unit in the country's online shopping market, which is expected to be worth US$102bil (RM370.57bil) by 2020, according to Morgan Stanley.
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