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Info Edge Invests INR 12.86 Crores In Zomato; Total Holding Increases To 48.5%
Info Edge (India) Ltd. which runs Naukri.com, matrimonial site Jeevansathi.com and real estate portal 99acres.com has upped its holding in Zomato Media Pvt. Ltd. that runs Zomato.com. It recently invested Rs 12.86 Crore in the company thus moving its total investment to Rs. 31.06 Crores and upping its holding to 48.5%.
Apart from Zomato, Info Edge has invested in 99labels.com, which is a members-only, flash sale site offering luxury brands and also in the online photography company Canvera Digital Technologies Pvt. Ltd.
Zomato.com is a site that provides restaurant reviews and ratings and is founded by IIT Delhi alumni and ex-Bain employees Pankaj Chaddah and Deepinder Goyal. The site is four years old and claims to have four million users per month. Currently the site operates in 12 Indian cities and only recently forayed on its first foreign market – Dubai. The company plans to expand to other markets like Singapore, Moscow and Hong Kong as well. Prior to this round of funding, Info Edge has made investments in Zomato in August 2010 and in September 2011 as well.
Since its launch, Zomato has come to be the preferred go-to site for restaurant goers and food-lovers. The recently updated Android and iOS apps are a huge hit among regular users and the ‘social’ features on the site are being favoured and loved by all.
With a fresh round of investments we can expect fine-tuned services and more growth from this site apart from them continuing to please customers and food connoisseurs alike.
Image Courtesy | layman-blog and goodreturns
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2012-09-20 23:00:41
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