Info Edge (India) Ltd. Invests a Further INR 55 Crore (~$10M) in Zomato

   Info Edge (India) Ltd. Invests a Further INR 55 Crore (~$10M) in Zomato

  PR Newswire

  NEW DELHI, February 21, 2013

NEW DELHI, February 21, 2013 /PRNewswire/ --

Info Edge, which runs the recruitment site Naukri.com has announced a further
investment of INR 55 Crore(~$10M)in the shares of restaurant guide service,
Zomato. Prior to this round Info Edge had invested INR 31 Crore in Zomato over
three rounds. As per the BSE filing, the fresh investment has been made
through ordinary shares of Zomato Media Pvt. Ltd.

 (Logo: http://photos.prnewswire.com/prnh/20130221/595397 )

"Zomato is fast emerging as one of the finest Indian consumer internet
businesses. It has a great team, a great brand, a super user experience, a
dominant market share, an excellent revenue scale up with a known path to
profit and a global opportunity. When the founders invited us to invest in the
next round we were delighted to grab the opportunity. We are excited to
partner with Zomato to build up the company further." Info Edge Founder &
Executive Vice ChairmanSanjeev Bikhchandani said. He also added, "While Info
Edge has transitioned to a majority shareholding this will not transform the
operating relationship between the investors and the founders who will
continue to enjoy the same operating independence as earlier. The management
team of Zomato has built the company and they shall continue to grow it out.
We respect good entrepreneurs and we are here to support and not to control."

  *Zomato was launched four years ago and currently operates in 5 countries:
    India, United Kingdom, UAE, Sri Lanka, and Qatar with further
    international expansion on the cards. In India, the operations span 13
    cities
  *The website and mobile app provide in-depth information (menu, contact
    details, pictures, directions, ratings and reviews) for over 75,000
    restaurants across 19 cities in 5 countries
  *Zomato has a dominant traffic share in India with an estimated 70% traffic
    share. Traffic to the site has grown by 250% over last year
  *Zomato's mobile app is one of the most popular apps in India with over a
    million downloads across different platforms. More than 50% of Zomato's
    traffic comes from its app which is a big barrier to entry for other
    players in this market
  *Monetisation trends are robust with a 700% growth in monthly billings as
    compared to a year ago. Billing continues to grow well month on month. The
    India operation broke even at the EBITDA level in December 2012
  *The UAE site has become market leader within 6 months of launch.
    Monetisation has begun and the UAE operation is expected to break even on
    an EBITDA level within a few months
  *More than 1500 restaurants in India have paid Zomato in the current FY.
    Renewal rates are in excess of 80%
  *In the last 6 months, Zomato has added the following four new countries -
    UAE, United Kingdom, Sri Lanka and Qatar. The company intends to add
    several more geographies outside India in the next twelve months
  *Globally, the most valuable company in this space is Yelp with a market
    cap in excess of $1.3B

Zomato will now focus on using the investment to further beef up market share
in its existing markets while continuing to scale sales operations in its
dominant markets - India and UAE. Additional country launches are also in the
pipeline -with the company planning an entry into the Philippines and South
Africa in the next few months. Deepinder Goyal, Founder & CEO of Zomato said,
"We plan to use these additional funds for product development, scaling up our
sales team in various locations, and further international expansion. India is
already a profitable business for us, and our UAE business is very close to
breaking even. Info Edge has been a great partner for us - we are excited
about deepening this relationship with an aim to build a global internet
business out of India."

About Zomato.com

Zomato.com is an online food & nightlife guide with listings for over 75,000
restaurants across 5 countries - India, United Kingdom, UAE, Sri Lanka and
Qatar. Zomato is currently the largest food and restaurant portal in India and
was started by IIT Delhi alumni in July 2008. It has expanded its services to
19 cities across 5 countries over a span of 4 years. Zomato.com raised its
first round of funding from Info Edge in August 2010. Zomato is headquartered
in New Delhi and currently employs 200 people in 19 cities spread across 5
countries.

About Info Edge (India) Ltd

Info Edge (India) Limited (NSE: NAUKRI) is the leading internet companyin
India. Info Edge is well known for its internet businesses - Naukri.com -
Jeevansathi.com; 99acres.com and Shiksha.com. The companyalso owns
Quadrangle - an offline executive search firm, FirstNaukri, Naukri Gulf, Brijj
and Allcheckdeals.com.

Info Edge, over the last 4 years, has ventured into newer areas by investing
in promising start-ups in the Indian internet space. To date, including this
investment in Zomato, it has invested an aggregate of over Rs 250crores in
nine start ups. These include Zomato (Rs 86 Crore), Meritnation (Rs 31.5
Crore), Policybazaar (Rs 30 Crore), Mydala (Rs 27 Crore), Canvera (Rs 35
Crore), Happily Unmarried (Rs 5 Crore), 99labels (Rs 28.5 Crore) and Floost
(Rs 2.3 Crore). Many of these sites are category leaders and are expected to
become valuable companies. With its headquarters in Noida, Info Edge employs
over 2500 people and operates through 59 offices in 35 cities inIndia and
overseas offices in Dubai, Riyadh, Abu Dhabi and Bahrain.

Naina Sahni (VP, Public Relations, Zomato) - naina@zomato.com ,
+91-9850-096-111
 
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