funding-money

Internet company Info Edge has invested an additional Rs 5 crore in online gifting website Happily Unmarried through convertible preference shares. Accordingly, Info Edge’s total investment in Happily Unmarried stands at Rs 21.3 crore and owns 48% stake in the company, according to this BSE notification.

Setup in 2003, Happily Unmarried designs and sells fun & quirky merchandise with India-centric designs. It currently offers products like t-shirts, mobile phone cases, bar accessories, bags, travel accessories, stationary products and office accessories among others. It also has a grooming range for men called Ustra.

Happily Unmarried also has a chain of offline stores in New Delhi, Mumbai and Chandigarh. Happily Unmarried also retails these products through various multi-brand outlets across 18 states including Maharashtra, Karnataka, Gujarat, Rajasthan and Tamil Nadu among others.

Info Edge had first invested Rs 5 crore in Happily Unmarried for about 25% stake in 2012.

Recent investments

Dirolabs: Mobile phonebook management company Dirolabs raised  Rs 3 crore (via convertable shares) from Info Edge, selling 11.5% stake to the company. This raise thus values Dirolabs at around Rs 26 crores, approximately $3.8 million.

Unnatihelpers: Info Edge picked up 28.5% stake for Rs 4 crore in a job portal for unskilled workers called unnatihelpers.com, valuing Unnati Online Pvt Ltd at Rs 14 crore.

Rare Media: In February, Mobility and cloud-based software developer Rare Media secured $1.1 million in fresh funding from Info Edge. The Delhi-based consumer internet company was founded in 2012 and its field force tracking service Blue Dolphin is used for employee location tracking and timekeeping on 3G devices.

Info Edge financials

Info Edge reported a net profit after tax (on a standalone basis) of Rs 57.18 crore for the quarter ended March 31, 2016 (Q4 FY16), down  30.41% from Rs 82.18 crore profit in the same quarter last year. On a sequential basis, net profit was up 163% from Rs 21.73 crore. Total income, including other income, increased 12.25% YoY to Rs 224.5 crore for the quarter.