Info Edge invests Rs 155cr in Zomato

| Saturday, April 11, 2015 - 15:42
First Published |

Info Edge invests Rs 155cr in Zomato

NEW DELHI: Internet firm Info Edge India has invested Rs 155 crore in online restaurant guide Zomato, which would use the amount to further expand its business.

"Info Edge (India), through its wholly owned subsidiary, has invested an amount of Rs 1.55 billion (Rs 155 crore) in Zomato, being Info Edge's proportionate share of Zomato's recent fund raise of $50 million," Info Edge said in a statement.

Upon completion of the process of allotment of shares, Info Edge's aggregate investment in Zomato will be about Rs 484 crore.

"Info Edge, along with its wholly-owned subsidiary will continue to hold, on a fully converted and diluted basis, 50.1% of Zomato," it said.

Zomato has recently forayed into the US market by acquiring restaurant information and recommendation service provider Urbanspoon for an estimated $60 million in an all-cash deal.

The firm has been aggressively expanding its global presence through inorganic route. This was the restaurant guide's sixth acquisition in the last six months, and also its biggest.

Zomato had recently acquired local restaurant search players in New Zealand, Poland, Czech Republic, Slovakia and Italy.

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