Info Edge invests $2.3 million in restaurant guide Zomato [Owns 48.5% of the company]
Info Edge, which runs the recruitment site Naukri.com has announced an investment of 12.86 crore in online food guide and relifestyle guide, Zomato. As per BSE filing, the fresh investment has been made through optionally convertible cumulative redeemable preference shares of Zomato Media.
Following this investment, Info Edge investment in Zomato totaled around Rs 31.06 crore and its shareholding has risen to 48.5 per cent. In September 2011, Info Edge invested $ 3million as a second round of investment in the restaurant guide. Importantly, this is the third investment of Info Edge within a month. Earlier, this month it had made investment of Rs 5 crore in lifestyle portal 99labels. In addition to that Infoedge announced Rs 35 crore investment in Bangalore based Canvera Digital Technologies which provides solutions to professional photographers.
The investment comes at a time when Yelp is launching in India and Zomato has forayed into International markets with the launch of its services for Dubai. Additionally, Zomato has also extended its presence within India from 10 to 12 cities with the launch of its Lucknow and Indore sections.
The company receives (as claimed) more than 4 million users every month; recently launched social features on the site (read: Explained: The Technology implementation behind launching Social Features). and print guide in partnership with Citibank.
Recommended Read: Sales isn’t just sexy, its smokin’ hot (by Zomato team).