Info Edge invests Rs. 14 crore in Canvera Digital Tech & Happily Unmarried Marketing
Info Edge has invested an additional Rs 10 crore in Canvera Digital Technologies Pvt. Ltd. and Rs. 4 crore in Happily Unmarried Marketing Pvt. Ltd, reports the Hindu Business Line.
Info Edge, which runs portals like naukri.com, jeevansathi.com, shiksha.com, brijj.com and 99acres.com, has informed Bombay Stock Exchange (BSE) that the Company has invested an additional amount of Rs. 10 crore through optionally convertible cumulative redeemable preference shares in Canvera Digital Technologies Private Limited, which runs the site www.canvera.com. The web portal provides solutions to professional photographers.
The cumulative investment, which now stands at Rs 67.1 crore, translates to about 36% stake in Canvera Digital Technologies Private Limited on a fully converted and diluted basis. Info Edge invested Rs 35 crore in August 2012 and then invested Rs 13.5 crore in March 2014.
Happily Unmarried Marketing, which sells fun quirky creative products, has till date received Rs 9.4 crore from Info Edge, which translates to about 34 % stake in the company.
Info Edge also holds stake in other portals namely, meritnation.om (school education), zomato.Com (restaurants rating and review), policybazaar.Com (financial products comparison site) and mydala.Com (deals website).