Zomato Marches On, More Pennies in The Bank
The Big red “Z” closes another at $50M
Zomato, which now owns the world, is wrapping up, yet another round of funding. Yes, we asked. Where? Who?
We know that InfoEdge was a part of the round but we’re not told who else. However, InfoEdge itself has invested half of the total funding to retain its majority shareholding of 50.1 per-cent it had earlier. After the current round and allotment of shares, Info Edge’s aggregate investment in Zomato will be about Rs. 484 crore. Apparently, though, if $50M hasn’t got your jaw dropping, they claim they needed $100M. So there.
This pushes Zomato’s funds to $163M. They’re looking to expand into related businesses and to allow customers to order food directly through their website. Yelp!