Alibaba and Ant Financial Invested Net $500M in Zomato and BigBasket
Alibaba's payment affiliate- Ant Financial has invested $200 million in restaurant discovery and food ordering app Zomato, latest stock exchange filings by Zomato's largest stakeholder- InfoEdge revealed.
InfoEdge currently holds 45% stake in Zomato, and informed Bombay Stock Exchange on Thursday that the funding round includes a $50 million secondary share sale to Ant Financials, which will dilute its stake in Zomato to about 30.9% post the capital infusion.
The primary and secondary shares of Zomato,value it at $880 million pre-money, according to the statement filings.
Pixr8 reported in Semptember that Zomato may receive a $200 million funding from China’s payments giant Ant Financial Services Group, valuing it around $1 billion.
“The expected date of completion of sale/disp...
