Info Edge (Naukri) has invested Rs 12.86 crore in online restaurant and events guide, Zomato, through optionally convertible cumulative redeemable preference shares, as per a recent filing with the Bombay Stock Exchange. Info Edge’s total investment in Zomato now stands at Rs 31.06 crore, and it has a 48.5% stake in the company.
Prior to this funding, InfoEdge had invested Rs 182 million/ Rs 18.2 crore in zomato.com, and had a 33.04% equity stake in the company. Info Edge had 58,480 equity shares of Zomato, as on 31st March 2012, and had invested Rs 47 million/ Rs 4.7 crore in them. It had 44,584 preference shares of Zomato, which it acquired in FY12, totaling Rs 135 million/Rs 13.5 crore.
The investment follows the launch of Zomato’s Dubai operations, and expansion of its business in India. The company had also claimed that it will add more cities in the Middle East and South East Asia by the end of 2012. We had earlier reported that Zomato had plans to expand its operations to Singapore in September 2012. Deepinder Goyal, CEO at Zomato, had said that the company aims to expand to other International cities, by the end of the year.
This is Info Edge’s second investment in its subsidiary companies, this month. The company had invested Rs 5 crore in 99Labels.com, a boutique online shopping site. In August, Info Edge had invested Rs 35 crore in Canvera Digital Technologies, which owns and operates the sitewww.canvera.com, an online photography destination offering mass customized printed products and e-commerce solutions to professional photographers.