Info Edge invests Rs 55 crore in Zomato
New Delhi: Info Edge, which runs the recruitment website naukri.Com, has invested an additional Rs 55 crore in restaurant guide service Zomato.
Info Edge had earlier invested Rs 31 crore in Zomato over three rounds, Zomato said in a statement.
The fresh investment has been made through ordinary shares of Zomato Media, it added.
"Zomato is fast emerging as one of the finest Indian consumer Internet businesses. It has a great team, a great brand, a super user experience, a dominant market share, an excellent revenue scale up with a known pathto profit and a global opportunity," Info Edge Executive Vice Chairman Sanjeev Bikhchandani said.
He added that while Info Edge has become a majority shareholder, the move will not change the operating relationship between the investors and the founders.
Zomato was launched four years ago and operates in five countries: India, the UK, the UAE, Sri Lanka, and Qatar.
In India, the operations span 13 cities. The website and mobile application provide in-depth information (menu, contact details, pictures, directions, ratings and reviews) for over 75,000 restaurants across 19 cities in five countries.
More from India
More from World
More from Sports
More from Entertaiment
- Cortana for Android available for public beta in US
- Xiaomi Redmi 2 Vs Redmi 2 Prime: Specification comparisons
- Middle class woes to continue, wholesale onion price shoots up to Rs 57 per kg
- Alleged land encroachment in Greater Noida: HC asks DM to decide representation in 3 months
- Watch: Review of Mahindra TUV300