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Info Edge invests $2.3 mn in Zomato, stake soars by 48.5%
Info Edge invests $2.3 mn in Zomato, stake soars by 48.5%
By: iMedia News Bureau

InfoEdge India Limited which runs major websites like Naukri.com, Jeevansathi, 99 acres and others has made an additional investment of $2.3M (Rs 12.86 Cr) in Zomato Media Pvt Ltd that runs Zomato.com, a site providing restaurant reviews, ratings and advertisements.

The aggregate investment, including the above, is Rs 31.06 Cr in Zomato Media Private Limited which translates to about 48.5% stake in the Company on a fully converted and diluted basis.

Info Edge had earlier invested Rs 4.7 Cr in Zomato's first round of funding, followed by second round of Rs 13.5 Cr last September.

Founded in 2008, Zomato has expanded its services to 12 cities in India including - Delhi NCR, Mumbai, Bangalore, Pune, Hyderabad, Chennai, Kolkata, Chandigarh, Ahmedabad, Jaipur, Lucknow and Indore.

Earlier this month, Zomato expanded its operation in international markets by launching it in Dubai. The company has launched the website in Dubai with more than 3,500 restaurants listed along with menus, ratings, reviews, maps and photos.

Furthermore, it is planning on expanding into more cities in South East Asia & Middle East by end of 2012.

Started by Deepinder Goyal and Pankaj Chaddah, the company claims to have a user base of 4 million per month.

This is Info Edge’s second investment this month after investing in fashion portal 99labels. Last month, Info Edge India Limited invested Rs 35 Cr in canvera.com, which provides solutions to professional photographers.