Home > companies > Info Edge invests Rs155 crore in Zomato

New Delhi: Internet firm Info Edge India has invested 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 1.55 billion ( 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 allotment of shares, Info Edge’s aggregate investment in Zomato will be about 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 company has been aggressively expanding its global presence through inorganic route.

This was Zomato’s sixth acquisition in the last six months, and the biggest one. It has recently acquired local restaurant search players in New Zealand, Poland, Czech Republic, Slovakia and Italy.

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