Info Edge To Acquire Stake In Online Food Guide Foodiebay
Info Edge (India) is planning to invest Rs.4.7 Cr in DC Foodiebay Online Services Pvt Ltd, an online food guide and restaurant directory business.
Foodiebay plans to use this investment for product development, marketing and to further increase their geographic footprint.
Foodiebay has a strong positioning in the food category and the deal will provide a diversification for Info Edge in the segment.
Founded by two IITians, Deepinder Goyal and Pankaj Chaddah, DC Foodiebay provides restuarants menu and review website foodiebay.com.
Transaction Reference: BS
Foodiebay.com includes menu of most food outlets starting from a small corner dhaba to top notch restuarants in Delhi NCR, Mumbai, Pune, Bangalore and Kolkata. The website is updated every four months and as of early this year had a team of just about a dozen people.
Foodiebay earns majority of its revenue from advertising and revenue-sharing with restaurants. The restaurants, incidentally, are not charged for listing their menus on foodiebay even as the website has plans to eventually generate some revenues from that too.
Other players in the review websites are Burrp.com, which was acquired by Infomedia18, part of Network18 group, HungryZone in Bangalore and TimesCity.com of Times of India.
Info Edge owns and manages - Naukri.Com, Jeevansathi.Com, 99acres.Com, Shiksha.Com apart from Quadrangle, an offline executive search firm and Naukri Gulf. Info Edge also owns Brijj.Com, a professional networking site and Allcheckdeals.Com, a real estate brokerage firm
This year in May, Info Edge had invested Rs.5 Cr in New Delhi-based Applect Learning Systems Pvt Ltd, which runs Meritnation.com, a portal offering learning solution in the K-12 segment, while in 2008, along with venture capital firms Kleiner Perkins, Caufield and Byers (KPCB) and Ram Shriram's Sherpalo Ventures, it invested in StudyPlaces.com.
For Q1 FY2011, Info Edge reported a revenue of Rs.65.9 Cr with a PAT of Rs.17.3 Cr.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 08/09/11 | Dc Foodiebay (Zomato.com) - Info Edge | M&A | Info Edge India Limited | 3.00 |
| 09/12/10 | Foodiebay - Info Edge | Venture Capital | Info Edge India Limited | 0.35 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 08/02/12 | Venture Capital | Indian Angel Network | Gamiana Digital Entertainment Private Limited | 1.00 | Completed |
| 06/02/12 | M&A | Agni Property Services Private Limited | Looking For | - | Planned |
| 02/02/12 | M&A | Persistent Systems Limited | Location business | - | Completed |
| 31/01/12 | Private Equity | Tiger Global Management LLC | Flipkart Online Services Private Limited | 150.00 | Completed |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Info Edge India Limited | Sanjeev Bhikchandani Ambrish Raghuvanshi Hitesh Oberoi Surabhi Motihar Bikhchandani |
Ground Floor, GF-12A 94, Meghdoot, Nehru Place New Delhi Delhi- 110020 |
People Interactive India Private Limited Monster.com (India) Private Limited Jobstreet.com India Private Limited People Infocom Private Limited |
www.infoedge.in |
| DC Foodiebay Online Services Pvt Ltd | Deepinder Goyal Pankaj Chaddah |
223-C, MIG DDA Flats, Rajouri Garden |
Burp.com Achindra Online Marketing Private Limited |
www.foodiebay.com |
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