FreeCharge to get $20 mn investment from Snapdeal, names Jason Kothari as CEO

Jason Kothari, CEO of FreeCharge
India e-commerce company Snapdeal announced the appointment of Jason Kothari as chief executive officer of FreeCharge.

Snapdeal will also be making an investment of additional $20 million in FreeCharge.

In addition to taking on the role of the CEO, Jason Kothari will continue his leadership role as chief strategy and investment officer at Snapdeal.

“As India moves towards a cashless and digital economy, we are certain that FreeCharge will play a pivotal role in the transition,” said Kunal Bahl, co-founder and CEO of Snapdeal.

Most recently, Kothari was CEO of Softbank-backed online real estate company Housing.com, where he led the turnaround of the company from a position of distress to a market leader in one and a half years using organic and inorganic growth.

Housing.com changed its business strategy and plan, raised an additional round of funding from lead investor Softbank, and achieved key operating results, such as increasing revenue by 400 percent.

Prior to joining Housing.com, Kothari was CEO and vice chairman of character-based entertainment company Valiant Entertainment, where he led the acquisition out of bankruptcy and turnaround of the company resulting in a record return in the industry.