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Info Edge ups stake in BigStylist with an additional Rs 6 crore investment


Info Edge, the parent company of online services such as Naukri, 99Acres and others, has invested an additional Rs 6 crore in BigStylist. With this, Info Edge’s stake in Big Stylist is at 39% on a fully converted and diluted basis, the company said in an update to the stock exchanges.

BigStylist runs an on-demand market place for beauty professionals and Info Edge has so far invested Rs 12.4 crore in the company. It had invested Rs 6.4 crore for a 25% stake in BigStylist back in December 2015.

Info Edge has been steadily increasing its investment in companies that it considers strategic investments.

– Last month, it acquired a majority stake in Canvera, a company which provides customized photobooks, and allows users to search and contact professional photographers in a city. Canvera raised Rs 20 crore in the round, of which 17.3 crore was from Info Edge, and the rest was from “certain existing and undisclosed investors”. This pushed Info Edge’s stake in Canvera to 57%.

– In July, it 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.

– Mobile phonebook management company Dirolabs raised  Rs 3 crore (via convertable shares) from the company, selling 11.5% stake to the company. Dirolabs is valued at around Rs 26 crores, approximately $3.8 million.

–  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.

– 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

For the quarter ended June 30, the Internet company reported a net profit after tax (on a standalone basis) of Rs 47.4 crore for the quarter ended June 30, 2016 (Q1 FY17), up 65% from Rs 28.63 crore profit in the same quarter last year. Total income, including other income, increased 16% YoY to Rs 223.6 crore for the quarter. The net sales for the company grew to Rs 197.6 crore for the quarter, up 13.09% from Rs 174.73 crore in the same quarter last year and a down 11.98% from Rs 224.5 crore in the preceding quarter.

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