wordpress blog stats
Connect with us

Hi, what are you looking for?

Info Edge To Invest Rs. 5Cr More In MeritNation; Q410 Earnings Call

Info Edge (India), which owns and operates classifieds sites like Naukri.com, 99Acres.com, Shiksha.com and Jeevansathi.com will invest Rs. 5 Crores in a second round of funding in Applect, which runs the e-learning site MeritNation, targeting students giving school exams in India. Info Edge had picked up 40% stake in MeritNation for Rs. 6.5 Crores. While they haven't disclosed how much their stake they'll own in Applect after this round of funding, Info Edge now classifies Applect as a subsidiary company, and MeritNation's website has a banner stating that it is a "Naukri.com group venture". Another investment, eTechAces, is now classified by Info Edge as an 'Associate Company'. eTechAces runs the site PolicyBazaar. In 2008, Info Edge had picked up 49% in eTechAces for Rs. 20 crores. During 2010-11, Info Edge intends to invest around Rs. 12-14 crores in Applect and EtechAces, compared to Rs. 8-9 crores in the 2009-10 fiscal. Their third investment hasn't come off well, though the company was acquired by Educomp. Info Edge has said that "one time charges in the P&L pertain to the loss on account of sale of investment in Studyplaces.com" The company, however, reported positive results for the quarter ended March 31st 2010, indicated in particular by a year-on-year increase in its deferred sales revenues, up to Rs 53.1 crores as on March 31st, 2010, compared to Rs 49.4 crores at the end of the last fiscal. Our report on their financial results here. Segment-wise notes from Info Edge's earnings conference call: Recruitment…

Please subscribe/login to read the full story.
Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

New bill narrows focus over predecessors that went heavy on data sovereignty, localisation and compliance. What explains this change?

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ