wordpress blog stats
Connect with us

Hi, what are you looking for?

“We may go below 50% stake in Zomato’s next round of funding”: Info Edge’s Bikhchandani

Info Edge, which has majority share holding in restaurant listings and food delivery startup Zomato, may consider bringing its stake below 50% in the company in the next major round of funding. Answering a query from analysts, InfoEdge founder and vice chairman Sanjeev Bikhchandani said that the company is unlikely to invest in Zomato alone but may consider participation with other investors in its next round of funding. During the quarter, Info Edge invested Rs 152 crore in Zomato to maintain its stake at 50.1%. "Given the size of our balance sheet and given our priorities in investing in 99acres, it would be difficult for us to give these companies all the money they need," Bikhchandani said. "We will support our companies, but it is unlikely that we will be doing it alone. And therefore, in Zomato, I have said this earlier in an analyst call that, in all likelihood, if there is a next round of a significant size, we will probably go below 50%," he added. Note that in November 2014 Bikchandani had stated that Info Edge would be reluctant to reduce stake in Zomato below 50% as Naukri, 99Acres and Zomato were the three businesses that were “moving the needle” for them. Zomato had reported an EBIDTA loss of Rs 136 crore for the 12 month period ended 31st March 2015 (FY15), compared to the Rs 41.39 crore loss reported in FY14. It had generated total operating revenue of Rs 96.7 crore in FY15, more than three times the Rs 30.6 crore operating revenue…

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

Free Reads

News

The ‘Reforming Intelligence and Securing America Act’ (RISAA) is a legislation to reauthorize Section 702 of the Foreign Intelligence Surveillance Act (FISA).

News

In its submission, the Interior Ministry said the decision to impose a ban was "made in the interest of upholding national security, maintaining public...

News

Among other things, the security requirements include data encryption and regular review and updated access permissions to reflect personnel changes.

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

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

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