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Info Edge invests $3 Million in Zomato.com
By siliconindia
New Delhi: Info Edge, an on-line classifieds company, has committed to invest 
13.5 crore in Zomato.com, an online food and lifestyle guide. This is the second round of funding for Zomato. They raised 4.7 crore in their first round of funding in August 2010.
The fund will be used to further scale up operations to drive both its existing and new verticals and increase its brand visibility. Deepinder Goyal, Founder and CEO, Zomato.com, said, "We plan to use these funds to further scale our operations, enrich user experience on both our wen and mobile products and increase our reach in the market."
Info Edge runs four internet businesses - Naukari.com, Jeevansathi.com, 99acres.com and Shiksha.com. Info Edge has ventured into newer businesses & markets, invested in internet start-ups and has attracted investments from leading venture capitalists. Formerly an ICICI Ventures investee company, Kleiner, Perkins, Caufield & Byers and Sherpalo Ventures had invested in the Company.
Started in July 2008 by IIT Delhi alumni as Foodiebay.com for Delhi NCR, Zomato.com is an online food and lifestyle guide with listings for over 18,000 restaurants across 10 cities in the country - Delhi NCR, Mumbai, Bangalore, Chennai, Pune, Kolkata, Hyderabad, Ahmedabad, Jaipur and Chandigarh. The online user base of the site has increased from 1,50,000 to over a million monthly visitors. Zomato has also launched its mobile apps on all major smartphone platforms in the first quarter of this fiscal year and currently has over one lakh user-base across India. It has also ventured into event listings and has started its events section for NCR, Bangalore and Mumbai with details of more than 300 upcoming events.
Sanjeev Bhikhchandani, Founder and Executive Vice Chairman, Info Edge, said, "Zomato.com is one of India's fastest growing consumer internet portals. The satisfaction levels on both sides of the value chain are very high. We see immense potential in their current model, in their future plans and the capability of the team to execute it well."
13.5 crore in Zomato.com, an online food and lifestyle guide. This is the second round of funding for Zomato. They raised 4.7 crore in their first round of funding in August 2010.
The fund will be used to further scale up operations to drive both its existing and new verticals and increase its brand visibility. Deepinder Goyal, Founder and CEO, Zomato.com, said, "We plan to use these funds to further scale our operations, enrich user experience on both our wen and mobile products and increase our reach in the market."
Info Edge runs four internet businesses - Naukari.com, Jeevansathi.com, 99acres.com and Shiksha.com. Info Edge has ventured into newer businesses & markets, invested in internet start-ups and has attracted investments from leading venture capitalists. Formerly an ICICI Ventures investee company, Kleiner, Perkins, Caufield & Byers and Sherpalo Ventures had invested in the Company.
Started in July 2008 by IIT Delhi alumni as Foodiebay.com for Delhi NCR, Zomato.com is an online food and lifestyle guide with listings for over 18,000 restaurants across 10 cities in the country - Delhi NCR, Mumbai, Bangalore, Chennai, Pune, Kolkata, Hyderabad, Ahmedabad, Jaipur and Chandigarh. The online user base of the site has increased from 1,50,000 to over a million monthly visitors. Zomato has also launched its mobile apps on all major smartphone platforms in the first quarter of this fiscal year and currently has over one lakh user-base across India. It has also ventured into event listings and has started its events section for NCR, Bangalore and Mumbai with details of more than 300 upcoming events.
Sanjeev Bhikhchandani, Founder and Executive Vice Chairman, Info Edge, said, "Zomato.com is one of India's fastest growing consumer internet portals. The satisfaction levels on both sides of the value chain are very high. We see immense potential in their current model, in their future plans and the capability of the team to execute it well."
