Industry owner is now majority shareholder in Zomato


Info Edge India, owner of the country’s largest job website, has acquired a majority stake in online restaurant guide Zomato by investing another Rs.55 crore in the New Delhi-based listings portal.

According to a BSE filing, Info Edge’s total investment in Zomato stands at Rs. 86 crore, and it now has a 57.9 per cent stake in the company. Info Edge had earlier invested Rs. 31 crore in Zomato over three rounds.

A company statement said that while Info Edge had become a majority shareholder, it would not change the operating relationship between the investors and the founders.

This move comes less than a few months after U.S-based Yelp, a rival internet portal, was rumoured to gearing up to make an India entry.

Over the last three years, Info Edge has invested at least Rs. 200 crore in seven to eight unrelated Internet companies.

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Printable version | May 21, 2019 9:30:24 AM |

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