Given that Naukri.com still accounts for a significant majority of the Info Edge's revenues, most of the company's earnings conference call was focused on two of its (relatively) smaller businesses: 99Acres and Zomato: Zomato: Zomato is going to close a round of funding before the end of the year, and by the looks of it, it's going to be a big one. Info Edge owns a majority share in Zomato, and in response to a question on why Info Edge isn't investing the money, as opposed to bringing an external investor in, Info Edge Vice-Chairman Sanjeev Bikhchandani said that getting an new investor in depends "on the size of the raise, and the size of our balance sheet. If the raise is going to be large, we would like to get someone alongside us. We will be probably diluted from our stake, but this is still under negotiation, but we are likely to stay majority." Bikhchandani said that during the last round of investment, when Info Edge acquired a majority share in the Zomato, it was valued "significantly less than Rs 500 crore", and Info Edge gave it a higher valuation that it was getting outside, because of the transition to majority stake. A minor fraction of the funding was given as a controlling premium stake. The current fund-raising round is still being negotiated. Zomato plans to add more countries, and the burn is expected to grow. "Six months ago, we could not have said that this would be our strategy,…
