Zomato, Policybazaar and many others: InfoEdge’s Internet bet
No one sees them, but they are everywhere
As companies rush to get public, the only company that seems to be taking advantage behind the scenes is InfoEdge. Two of its owned companies, Zomato which has already launched its IPO and Policybazaar which is planning its IPO before the end of the year, have caught the attention of investors. InfoEdge, founded by GlaxoSmithKline alumnus Sanjeev Bikhchandani, bet on these companies long before anyone knew about them.
To its credit, InfoEdge isn’t just positioned to pick a big slice of the delicious IPO pie, it also has a range of diverse companies in its portfolio. But his eyes are on the biggest bet: Internet companies in India. From employment, education, marriage and real estate, in addition to food delivery and insurance, InfoEdge has or has invested in a range of internet companies.
Woke up early
He helped boost Zomato and Policybazaar as early investors around 10 years ago. Bikhchandani and Mohit Bhatnagar of Sequoia Capital planned for the future of food delivery and invested in Zomato. When InfoEdge first invested in the company, it was called Foodiebay. He transformed into Zomato in 2010.
InfoEdge owns an 18.4% stake in the food delivery platform. Prior to the IPO, InfoEdge reduced the size of its offer to sell (OFS) from Rs 750 crore to Rs 375 crore. The company has said it does not want to sell its entire stake in Zomato and plans to continue investing in the company headed by Deepinder Goyal.
Zomato became a unicorn in February 2018. During its IPO which was held July 14-16, Zomato raised Rs 9,375 crore. On the last day, the IPO was subscribed 38.25 times.
They know who are smart
As for Policybazaar, Bikhchandani invested in the company in 2008. While there wasn’t much to do in terms of the platform, a meeting with co-founder Yashish Dahiya was enough to seal the deal. “When I met Yashish in 2008, he boldly asserted that he was willing to bet that I was paying 60% more for my car insurance than I needed,” Bikhchandani said in testimony for Policybazaar. He said the team was solving a real customer problem. Bikhchandani said the Policybazaar team came with such a solid pedigree and at such an early stage that it was “essential” for them to support the team. She became a unicorn in July 2018.
The insurance company said it receives 100 million visitors a year looking for insurance information. Over 6 lakh policies are sold each month, and a two-term policy is sold through their platform.
More recently, InfoEdge said in a regulatory filing that its subsidiary Makesense Technologies would merge with PB Fintech Pvt Ltd operated by Policybazaar.
And have a strong portfolio
As it continues to bet big on internet companies, the obvious question is whether InfoEdge will be able to recreate the magic of Zomato and Policybazaar. Apart from these two companies, companies owned by InfoEdge include Happily Unmarried, Vacation Labs, Big Stylist, Rare Media Company, Coding Ninjas, Adda 247, Medcords, Shop Kirana, Unnati Helpers, mydala.com, No Paper Forms, Univariety, Gramophone, Printo, Shipsy and more. In January of last year, Aakash Educational Services Limited announced that it had acquired Applect Learning Systems (Meritnation) for Rs 100 crore. Akash has since been inducted into the Byju universe for a $ 1 billion cash and stock deal.
Expanding its interest in the education segment, InfoEdge has invested in Coding Ninjas and Adda247. Coding Ninjas offers coding courses to better prepare and develop applicants for employment, while Adda247 is a test preparation platform that prepares applicants for government exams such as banking, SSC, paths of iron, UPSC, defense, education, etc. No Paper Forms is a platform allowing institutes to streamline their admission and registration requirements. Univariety is a career guidance platform for students.
Focusing on consumers, ShopKirana is a B2B commerce company that works with a network of millions of retailers. They aim to be the largest and fastest channel to market for products and services. Gramophone full stack technology platform aims to make agriculture smart using agricultural knowledge and technology. They support farmers from pre-sowing to the marketing of products. Shipsy is a software platform that helps businesses manage their shipments.
InfoEdge also has Unnati Helpers, a technology-based job exchange for the needy, coupon provider mydala.com, medical web portal Medcords and Printo, a retail chain offering printing and documentation services. in his pot.
The popular platform for fun and original products, Happily Unmarried, sells its items online as well as in retail outlets. The platform aims to target young people for its range of articles. Vacation Labs from Mint Bird Technologies is an online reservation system for tour operators. Big Stylist from Green Leaves Consumer Services is an on-demand marketplace that provides clients with access to a network of beauty professionals in their neighborhood. Rare Media’s Bluedolph Services provide secure employee location tracking and timing for the mobile workforce.
InfoEdge had invested earlier this month in logistics aggregator Shiprocket. The startup said more than 1 lakh of online sellers in India are using its platform. “Anyone with a product to sell should be able to take advantage of Shiprocket’s one-click suite of products and services to launch their business with an Amazon-like one-day delivery experience,” Info Edge said.
it only gets better
In addition to the champion issuers, InfoEdge also has a list of stellar consumer-focused platforms, such as naukri.com, jeevansathi.com, 99acres.com, and shiksha.com. Naukri.com is an online recruiting and classifieds site, while jeevansathi.com is a marriage site, 99acres.com is a real estate site, and shiksha.com is an online educational classifieds site.
InfoEdge CFO Chintan Thakkar said the real estate recovery after COVID-19 was patchy, but the education sector continued to grow. However, the vacancies sector was the main contributor to profits.
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