Kunal Shah, founder and CEO of FreeCharge considers entrepreneurship as a sort of reciprocity between innovation and ideas- an unmissable correspondence between rewarding experiences and ventures. With the help of his meritorious venture FreeCharge, this amazing Indian entrepreneur is able to do provide rewarding experiences to his customers. Kunal Shah started FreeCharge in the year 2010 along with his co-founder Sandeep Tandon. Kunal and Sandeep are those aspiring entrepreneurs who strive for excellence. Thanks to their discipline and diligence, FreeCharge now has a remarkable customer base of 20 million.
After graduating with Bachelor of Arts degree in Philosophy from Wilson College in Mumbai, he went on to purse MBA from the prestigious Narsee Monjee Institute of Management Studies (NMIMS), Mumbai. Thanks to his entrepreneurial caliber, realization soon dawned upon his mind that ‘One doesn’t need an MBA degree to become an entrepreneur.’ He dropped out from NMIMS and started his career as a junior programmer at a BPO startup. To satiate his quest for becoming an entrepreneur, he started Paisaback, his first venture that offered cash-back promotions for all organized retailers.
Kunal is one of those entrepreneurs who seldom settle with the status quo. Kunal’s persona is abloom with completeness and perfect analysis. It is his ever inquisitive mind that made him analyze the potential of recharge business in India. His venture FreeCharge is a befitting testament to Kunal’s abiding and attainable quest for excellence. In April 2015, Snapdeal acquired FreeCharge for an overwhelming $400 million. This is indeed one of the biggest acquisitions ever done in the entire Indian startup ecosystem. Well, it is noteworthy to mention that even after being acquired by SnapDeal, FreeCharge continues to operate as an independent entity
Having witnessed over 10 million app downloads and a little beyond the colossal 1000% growth, FreeCharge went on acquire two promising and emerging technology startups- Wishberg and Preburn.. Having establishing itself as a vital player in mobile commerce, FreeCharge raised a little over $115 million in risk capital. Whenever customers top up their respective phone credit or pay utility bills, FreeCharge mails coupons to the customers. All the coupons can be redeemed at various brick-and-mortar giants such as Baskin Robbins, McDonalds etc. And yes, they can be redeemed at reputed e-commerce sites such as Flipkart and Amazon India. Needless to say, coupons can be redeemed at a few coffee shops as well.
Kunal is now eyeing expansion in transaction advertising and is optimistic of making a mark for himself in Latin America, Africa and Southeast Asia.
Team MyVenture’s best wishes are with Kunal Shah.