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Tag: info edge

Zomato Files for $1.1 Billion IPO, Info Edge will gain $100 million
Market

Zomato Files for $1.1 Billion IPO, Info Edge will gain $100 million

Bengaluru, 04/28/2021: India-based food delivery company Zomato files for a $1.1 billion IPO, and through this IPO its initial investor Info Edge will earn $100 million (Rs 750 crore) in the initial public offering. In a regulatory filing, Zomato is proposing IPO of its equity shares, comprising a fresh issue of equity shares by Zomato Ltd and an offer for sale by Info Edge (India) Ltd. On a fully converted and diluted basis, Info Edge's effective stake in Zomato stands at 18.4 per cent. "The Board of Directors of the Company today considered and have given their approval to the company to participate in the said Offer for Sale of up to a such number of shares of Zomato Ltd as would aggregate up to $1.1 billion (around 7500 crores)," it added. The terms and conditions of these...
Info Edge invests $6.33 million in Bulbulive Shopping Network
FUNDING

Info Edge invests $6.33 million in Bulbulive Shopping Network

New Delhi, Jul 28, 2020: Info Edge invested about USD 6.33 million (about Rs 47.3 crore) in Bulbulive Shopping Network. Bulbul is a video and Livestream-led commerce platform that aims to make online shopping engaging and social while offering consumers the opportunity to discover new products. "The IE Venture Fund I have acquired/agreed to acquire 416 ordinary shares and 2002 series A1 compulsorily redeemable convertible preferred shares, through a mix of the primary and secondary mode of acquisition," Info Edge said in a regulatory filing. Upon successful closing of the said acquisition of shares, the aggregate shareholding of the company in the said entity would be around 17.82 per cent on fully converted and diluted basis. "This is part of a larger round of about USD 8.7 m...
Happily Unmarried Raises $843k from Info Edge
FUNDING

Happily Unmarried Raises $843k from Info Edge

India based Info Edge Ltd invested $843k (Rs 6 crore) in Happily Unmarried Marketing through its wholly-owned subsidiary. Info Edge has agreed to acquire 1,244 optionally convertible cumulative redeemable preference shares and the cost of acquisition is about Rs 6 crore, Info Edge said in a regulatory filing. The aggregate shareholding of the company in Happily Unmarried, post previous fund raise exercise from other investors and completion of current fund raise exercise by Happily Unmarried, would be 42.33 per cent on fully converted diluted basis. Happily Unmarried has diversified into men's grooming through its brand 'Ustraa' that is now driving the growth of the business. The investment would help in consolidating Info Edge's position into the said line of business withi...
Gramophone raises $3.5 million from Info Edge & others
FUNDING

Gramophone raises $3.5 million from Info Edge & others

Agri-tech startup Gramophone raises USD 3.5 million in funding from Info Edge, Raveen Sastry (Co-founder of Myntra.com), Asha Impact and Better Capital. Info Edge is an existing investor in Gramophone, while Asha Impact is a platform founded by Vikram Gandhi (former Credit Suisse executive) and Pramod Bhasin (former President and CEO of Genpact), a statement said. The startup is rapidly scaling up its operations and will use the funds to expand across other Indian states. Founded in 2016, Gramophone provides actionable agronomic insights coupled with last-mile delivery of agriculture inputs to farmers through a smartphone app and a call centre. The startup's last-mile delivery model has helped them serve over 2.5 lakh farmers in the remotest villages across central India. "...
Info Edge Invests into B2B Footwear Company ShoeKonnect
BUSINESS

Info Edge Invests into B2B Footwear Company ShoeKonnect

The parent job portal of Naukri.com and real estate website 99acres.com called Info Edge (India) Ltd has invested an amount of Rs 3 crore ($422,000) more in online business-to-business footwear marketplace ShoeKonnect. This particular investment raised Info Edge’s stake in ShoeKonnect to 27.27% from 20% as stated by the company. This indicates the fresh infusion has come at a higher valuation. ShoeKonnect is a brand run by Bizcrum Infotech which was founded in 2014 by three economics graduates from Delhi University named Siddharth Vij, Chaitanya Rathi and Siddharth Rastogi. Talking about the funding, the startup raised an undisclosed amount from the Indian Angel Network in 2016. It posted revenue of Rs 37 lakh for the financial year ended March 2018. ShoeKonnect brings manufact...
Food-tech Startup Holachef Raises Rs 2 Crore Funding
FUNDING

Food-tech Startup Holachef Raises Rs 2 Crore Funding

Mumbai based diamond manufacturer and distributor Laxmi Diamond Pvt Ltd's Ashok Kumar Gajera has invested Rs 2 crore in food technology startup Holachef a financial daily reported. Holachef is a food delivery service from its "innovative food combos". The funding is raised at the same valuation as its $5 million Series B round which was held in April, last year. The food delivery startup had raised around $5 million from its existing investors- Kalaari Capital, and was participated by SIDBI Venture Capital and India Quotient, as per the filings with the Registrar of Companies and documents. The Series-B round was completed in two rounds- valuing the company at Rs 143 crore. The startup has been working to build up its team and scale its logistics infrastructure to streamline the busi...
Edtech Startup Meritnation Raises Funding from Info Edge
FUNDING

Edtech Startup Meritnation Raises Funding from Info Edge

Edtech platform Meritnation, run by Appect Learning Systems has recently raised a sum of Rs 38 crore from the online classifieds portal - Info Edge. With this latest funding round, Info Edge now holds a majority stake of 65.67% in the startup, in comparison to the earlier 56%; with a total of Rs 134 crore as an investment. A large part of the funding(around Rs 32 crore) will be used to retire some of the debt on its books while the remaining will be used for the expansion and daily operations. Meritnation is an online education platform that helps students develop and deliver online studying material in terms of assessments, lecture videos and related content from kindergarten to class 12 and test preparation modules for various UG entrance examinations. Also Recommended ...
From Unicorn to Cockroach- Zomato Valuation Goes Half
News

From Unicorn to Cockroach- Zomato Valuation Goes Half

Not getting over Fund crunch cyclone in Indian startup ecosystem, it seems one more cyclone is going to hit Indian startups called as "valuation cut-off". After India's leading e-commerce company Flipkart valuation cut-off, the cyclone is hitting one more Indian startup "Zomato". The brokerage arm of HSBC's bank, HSBC Securities and Capital Markets has slashed the valuation of Zomato by half from $1 billion to $500 million. However, Info Edge which currently owns a 50.1% stake in the company disagreed with HSBC's estimate. In the note, which raised concerns around Zomato's ad-heavy business model, international operations and growing competition in the online food ordering segment, according to a report by Mint. What matters is that your business has strong fundamentals, positiv...
Info Edge Invested $1.1Million in Mobile Tracker Startup Rare Media
FUNDING

Info Edge Invested $1.1Million in Mobile Tracker Startup Rare Media

Info Edge Ltd has invested about $1.1 million (Rs 7.4 crore) in mobility-and cloud-based software developer Rare Media Company Pvt Ltd. The investment is expected to support Info Edge’s online realty business 99acres, which already uses Rare Media’s services for its sales staff. Founded in 2012 by Siddhartha Gupta, Delhi-based Rare Media’s field force tracking service, known as Blue Dolphin, is used for employee location tracking and timekeeping on 3G devices. “Rare Media has products in the area of B2B sales force management. We have invested in this company because there is a certain sort of dependency that 99acres has on them,” Bikhchandani said. 99acres uses Rare Media’s mobile-based products for data verification of its sales force. “The Rare Media investment is not a regu...