Info Edge’s investee companies – Zomato Media Pvt Ltd (Zomato.com), Applect Learning Systems Pvt Ltd (Meritnation.com), eTechAces Marketing and Consulting Pvt Ltd (Policybazaar.com), Kinobeo Software Pvt Ltd (Mydala.com), Canvera Digital Technologies Pvt Ltd (Canvera.com) and Happily Unmarried Marketing Pvt Ltd (HappilyUnmarried.com) – together generated Rs 330.07 crore operating revenues for the 12 month period ended March 31, 2015 (FY15), up 73% from Rs 190.74 crore in FY14.
These investee companies together reported an EBIDTA loss of Rs 233.24 crore for FY15, double than the Rs 116.07 crore EBIDTA loss in FY14.
Info Edge’s Associate Companies
Info Edge’s associate companies – Policybazaar, Mydala, Canvera and Happily Unmarried – together reported operating revenue of Rs 211.75 crore for 2014-15, up 51.4% from Rs 139.86 crore in 2013-14. The associate companies reported an EBIDTA loss of Rs 74.52 crore for FY15, up 61.5% from Rs 46.15 crore EBIDTA loss in FY14.
Info Edge currently holds an 18% stake in eTechAces (Policybazaar), a 45% stake in Kinobeo Software (Mydala), a 32% stake in Canvera and a 27% stake in Happily Unmarried.
Policybazaar: Info Edge’s stake in Policybazaar reduced to 18% following Policybazaar’s recent round of funding, in which the company raised Rs 255 crore (about $40 million) from PremjiInvest and a set of new and existing investors including Tiger Global, Ribbit Capital, Steadview Capital and ABG Capital. At the end of FY15 (March 31, 2015), Info Edge owned 23% of the paid up capital of eTechAces.
So far, Info Edge has invested Rs 32.5 crore in PolicyBazaar, including Rs 2.5 crore in April 2013, Rs 10 crore in April 2011 and Rs 20 crore in September 2008. Info Edge didn’t participate during PolicyBazaar’s previous round of funding in May 2014, and had diluted its stake to 23% from about 32%. Info Edge initially held a 49% stake in the company.
Mydala: Info Edge has invested Rs 27 crore in Mydala till date, including Rs 18 crore in October 2011 and Rs 9 crore in April 2011.
In September last year, Mydala launched a grocery vertical on its website and mobile app, which allow shoppers to view offers on grocery items from local kirana stores. Earlier this year, the company had partnered with Airtel to provide deals and offers to its subscribers while recharging their accounts using the ‘My Airtel’ mobile app. At the time, Mydala claimed to have 4 million transacting customers monthly, with over 6.6 million transactions per month. It also claimed to have 50 million unique visitors and 25 million registered users, with 80% of its revenues coming from the mobile platform.
Canvera: In October last year, Info Edge made its fifth investment in Canvera, following which it had informed BSE that it holds a 36% stake in the online photography service. However, it seems now the stake has come down to 32%, same as what it was before this round of funding.
Info Edge has invested Rs 67.1 crore in Canvera, till date: Rs 10 crore in October 2014, Rs 13.5 crore in March 2014, Rs 1.5 crore in February 2014, Rs 4.5 crore in January 2014 and Rs 35 crore in August 2012.
Happily Unmarried: So far, Info Edge has invested Rs 9.4 crore in Happily Unmarried. It had invested Rs 4 crore in the online-offline commerce venture in October last year, and Rs 5 crore in November 2012. Interestingly, at the time of the October 2014 funding Info Edge held a 34% stake in Happily Unmarried “on a fully converted and diluted basis”. Its stake has now come down to 27%.
Happily Unmarried sells through its online store and a chain of offline stores in New Delhi, Mumbai and Chandigarh. It also retails these products through various multi-brand outlets across 18 states including Maharashtra, Karnataka, Gujarat, Rajasthan and Tamil Nadu among others.
For Zomato’s financial performance in FY15 check here, and for Meritnation’s FY15 financials check here.
