Info Edge (India) Ltd, the parent company of Naurki.com and 99Acres, has acquired minority stake in two startups–VCare Technologies and Unnati Online Pvt Ltd. VCare offers phone directory app called Diro Labs; and Unnati runs a platform called Unnati Helpers to hire domestic help.
According to a stock market filing, Info Edge has invested Rs. 30 million (Around $447 million) through convertible preference shares to acquire a 11.5 per cent stake, on fully converted and diluted basis, in Vcare Technologies Pvt Ltd. It further said, it had invested Rs. 40 million (around $596 million) through convertible preference shares for acquiring about 28.5% stake in Unnati Online Pvt Ltd.
Lately, Info Edge is pouring a lot of money in early stage companies, startup ventures to tap into the growing and vibrant Indian e-commerce market. In January, Info Edge Ltd, acquired a 35 per cent stake in Delhi-based Rare Media Company for a little over $1 million, before which it acquired 25% stake in on-demand beauty services marketplace BigStylist for about $1 million. It has also invested in e-commerce marketplaces including Zomato, Meritnation, Policybazaar, Mydala, and Happily Unmarried.
Diro Labs allows users to make groups of contacts, back them up on cloud, and connect contacts with social media. The startup is based out of Delhi, and also has offices in the US and the UK. It was founded in 2014 by Vishal Gupta, Sumeet Singh and Nikhil Rai. Diro Labs competes with phone contacts management app InTouchApp, which recently raised seed funding from Blume Ventures.
Unnati Helpers provides housekeeping services providers for households and businesses. The Gurgaon-based company was founded in 2014 by Shantanu Singh, Eral Ravi and Aashutosh Chaudhary. Unnati Helpers competes with startups such as BookMyBai.com, which raised around $150,000 in November 2015, and Didi, an on-demand platform that provides housekeeping services, which secured an equal amount in angel funding the same month.
Info Edge runs a slew of consumer internet properties such as Naukri, 99acres, Jeevansathi and Shiksha. It posted a standalone net profit of Rs 141.58 crore for 2015-16 compared with Rs 193.86 crore the year before.
Image Source: ShutterStock
According to a stock market filing, Info Edge has invested Rs. 30 million (Around $447 million) through convertible preference shares to acquire a 11.5 per cent stake, on fully converted and diluted basis, in Vcare Technologies Pvt Ltd. It further said, it had invested Rs. 40 million (around $596 million) through convertible preference shares for acquiring about 28.5% stake in Unnati Online Pvt Ltd.
Lately, Info Edge is pouring a lot of money in early stage companies, startup ventures to tap into the growing and vibrant Indian e-commerce market. In January, Info Edge Ltd, acquired a 35 per cent stake in Delhi-based Rare Media Company for a little over $1 million, before which it acquired 25% stake in on-demand beauty services marketplace BigStylist for about $1 million. It has also invested in e-commerce marketplaces including Zomato, Meritnation, Policybazaar, Mydala, and Happily Unmarried.
Diro Labs allows users to make groups of contacts, back them up on cloud, and connect contacts with social media. The startup is based out of Delhi, and also has offices in the US and the UK. It was founded in 2014 by Vishal Gupta, Sumeet Singh and Nikhil Rai. Diro Labs competes with phone contacts management app InTouchApp, which recently raised seed funding from Blume Ventures.
Unnati Helpers provides housekeeping services providers for households and businesses. The Gurgaon-based company was founded in 2014 by Shantanu Singh, Eral Ravi and Aashutosh Chaudhary. Unnati Helpers competes with startups such as BookMyBai.com, which raised around $150,000 in November 2015, and Didi, an on-demand platform that provides housekeeping services, which secured an equal amount in angel funding the same month.
Info Edge runs a slew of consumer internet properties such as Naukri, 99acres, Jeevansathi and Shiksha. It posted a standalone net profit of Rs 141.58 crore for 2015-16 compared with Rs 193.86 crore the year before.
Image Source: ShutterStock
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