Info Edge keen on investing in startups
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New Delhi: Info Edge India, owner of leading portals like naukri.com, shiksha.com and jeevansathi.com is looking at potential acquisition opportunities if valuations correct further. It is also keen on investing in start-ups related to its business model. Bikhchandani started info Edge in 1990. Info Edge Co-founder and CEO Sanjeev Bikhchandani said that there are not many acquisition targets currently in India. The company is concentrating on the internet space that is aligned to its business model. The company went public with Rs 170 crore IPO in November 2006, which was oversubscribed 55 times. Bikhchandani, the Founder of Info Edge, however, denied the news of the take-over. "We had been approached as potential takeover target prior to going public. But, we have always made it clear that the company is not for sale, and moreover there have been no approaches ever since the company's listing," he said. According to the Founder, the company focuses more on India as there are enough growth opportunities in the country itself. "At present Naukri.Com has a market share of nearly 50 per cent followed by Monster.Com and Timesjobs.Com which account for about 35 per cent and 15 per cent, respectively." he said. Naukri.com has a growth rate of about 56 percent, whereas other business activities are running on a profit of 70 to 80 percent. Bikhchandani added, "Acquisition is not in our mind right now, but if at all, we may look at acquisition in the Internet platform," he added. Reportedly, Info Edge has made a net profit of Rs55.48 crore on revenues of Rs239.66 crore for the fiscal year 2008. The company has more than 300 crore cash in hand. Info Edge's has invested about $5-10 million on Shiksha.com, its education portal. The site was launched in June. Its list includes around 85,000 names of institutes, courses, events, admissions, results and scholarships.

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