22 September, 2014

FreeCharge acquires offline app store Preburn

Online recharge and couponing site Freecharge.in acquired startup Preburn for an undisclosed amount to expand its customer reach. Preburn, which is in stealth mode, is an offline app store which offers utility apps through mobile retail stores.

However, after the acquisition Preburn will focus on building its online technology platform. "We are now keeping our offline module on hold and launch our online platform in a couple of months," said Mohit Mittal, CEO of Preburn, who founded the company earlier this year along with Manikanta Nikhil and Vijaysimha Reddy.

"As more and more users buy online on Flipkart and Amazon, focusing on that makes more sense for us." The five member team at Preburn will be working as a separate business unit and report directly to FreeCharge CEO Alok Goel.

"A majority of new internet users experience power of internet through mobile phones," said Alok Goel, CEO at FreeCharge, who earlier worked with RedBus as chief operating officer. "As a result, there is huge opportunity to efficiently onboard these new users to the world of mobile internet."

Mumbai-based FreeCharge, which is backed by Sequoia Capital, last month acquired social wishlist site Wishberg, wherein the startup shutdown and its founders joined FreeCharge.