Zomato.com raises $ 3 Million from Info Edge
This is the company’s 2nd round of investment
September 09, 2011 | comments ( 0 ) |
Info Edge (India) Ltd, one of India’s largest internet companies, has committed to invest Rs 13.5 crore ($3 million) in Zomato.com, India’s largest online food and lifestyle guide. This is the second round of investment in Zomato. The first round of Rs 4.7 crore ($1 Million) investment came in August 2010 to fund Zomato.com’s (then Foodiebay.com) product development, sales and marketing efforts. Zomato.com since then has been seeing strong overall growth.
"The satisfaction levels on both sides of the value chain (consumer and merchant) are very high. We see immense potential in their current model, in their future plans and the capability of the team to execute it well," said Sanjeev Bhikhchandani, Founder and Executive Vice Chairman, Info Edge.
Deepinder Goyal, Founder and CEO of Zomato.com commented, “We plan to use these funds to further scale our operations, enrich user experience on both our web and mobile products and increase our reach in the market. We have recently moved into events and an e-commerce section is in the pipeline. The second round of funding will also go into building a strong foundation for these new verticals.”
Zomato.com will now focus on using the investment to further scale up operations to drive both its existing and new verticals, increasing its brand visibility.
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