For a company that was acquired for $400mn in 2015 (and was considered as India's largest M&A deal in Indian Internet industry), they aren't able to get a buyer. Latest reports suggests that Axis Bank is among the front runner to acquire FreeCharge.
The deal value? My guess is that it won't be more than $30-$40mn.
In early days of Freecharge, that was the price Paytm put for the Freecharge (actually it was $10mn), which of course FC refused.
Some harsh truths about Freecharge?
First of all, don't blame Snapdeal for screwing it up. For Snapdeal, this was the quickest way to get to customers with credit cards. FYI: At one time, Freecharge has the highest number of filed-credit card numbers among all ecommerce players.
Snapdeal didn't really manage to integrate FC and Snapdeal business. While they were trying, Paytm just cracked the wallet code.
Freecharge is like a baby with no guiding parent, but too many cousins responsible for its success.
Freecharge cofounders were asked to leave- they made their money.
Snapdeal founders are least bothered about Freecharge. They have their own baby to look at and frankly, the entire hypothesis that 'sum is greater than the parts' bombed.
Freecharge investors too made money. Top management too made their money (and quit). No one is complaining !
Freecharge will go down in the Indian Internet industry as the startup that was sold (almost) for free, but charged up the entire ecosystem (atleast the team)!
TL;DR: This is how Freecharge is currently being tossed around. Sad, but true.