Info-tech

Info Edge invests Rs 55 cr in Zomato

PTI New Delhi | Updated on March 12, 2018

Info Edge has invested an additional Rs 55 crore in the restaurant guide service Zomato.

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 path to profit and a global opportunity,” Sanjeev Bikhchandani, Executive Vice-Chairman, Info Edge 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.

Published on February 21, 2013

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