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November 06, 2013

Deal Alert: Sequoia, Info Edge invest Rs.228-Cr in online restaurants reviews service Zomato

Online food and restaurant listings platform Zomato has raised INR 227.6 crore from Sequoia Capital India and existing investor, publicly listed Info Edge, owner of online businesses including Naukri.com. Of this, Info Edge has invested about INR 57 crore by subscribing to convertible preference shares of Zomato Media Private Ltd. The rest, INR 170.6 crore came from Sequoia Capital India. Zomato will use the funds to expand global operations. With the latest investment, the company has now raised a total of $53 million (INR 324 crore).

InfoEdge will continue to be the largest shareholder in Zomato with a stake of just over 50%. Zomato earned revenue of INR 11.4 crore in fiscal 2013 and the estimated revenue for this fiscal year is about INR 36 crore. Zomato claims nearly 15 million users visit its website every month and earns about 65% of its revenue from India while the rest comes from overseas.

 
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