Freecharge.in, an online recharge services provider has appointed Nag Thota as its Chief Technology Officer (CTO). Thota was earlier working as the CTO of online travel portal Yatra.com. Thota holds an MS from Texas A&M University and has over 19 years of work experience with stints at Amazon and Yahoo at various locations including, Atlanta and Singapore.
This is the second exit of a key management person at Yatra over the past 9 months. Last August, Raja Natesan, a veteran of the travel industry with over 20 years of experience had quit as the COO of Yatra.com and later joined TUI, a travel services firm in February 2012. Yatra had recently roped in Salman Khan as its brand ambassador, who had also picked up a minority stake in the company besides signing a partnership agreement for his NGO, Being Human.
Speaking on his appointment, Thota said, “Freecharge is a leader in e-commerce solutions and has gained a customer base of over 1.5 million in a short span of 18 months since its launch. That fact in itself is commendable and shows the great potential the company has.”
Freecharge.in was started in 2010 by the Mumbai-based strategic marketing firm, Accelyst Solutions Pvt. Ltd. and had received initial seed funding from the Tandon Group, which is a part of the Mumbai Angels Network. The company’s business model received further validation with funding from Sequoia Capital last year followed up by a Series A funding from the same firm in January this year for an amount of Rs.20 Crores.
Freecharge offers discount coupons to customers for recharging their mobile phones, TV connections and Data cards on the website. The company has tied-up with over 50 retail partners for providing coupons such as McDonalds, Pizza Hut, Café Coffee Day etc. and offers recharge facilities for all leading mobile and TV connection brands.