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Info Edge (Naukri) to invest Rs 4.7 crore in Foodiebay.com

Info Edge India, which owns websites like Naukri.com, 99Acres.com, Jeevansathi.com and Shiksha.com, plans to invest upto Rs 4.7 crore in DC Foodiebay Online Services that runs an online food guide and restaurant directory Foodiebay.com. Info Edge has already invested in insurance aggregator PolicyBazaar.com and education portal MeritNation.com. It had earlier invested in StudyPlaces.com which it has exited.

Info Edge India, which owns websites like Naukri.com, 99Acres.com, Jeevansathi.com and Shiksha.com, plans to invest upto Rs 4.7 crore in DC Foodiebay Online Services that runs an online food guide and restaurant directory Foodiebay.com. Info Edge has already invested in insurance aggregator PolicyBazaar.com and education portal MeritNation.com. It had earlier invested in StudyPlaces.com which it has exited.

Gurgaon-based Foodiebay was started in July 2008 by Deepinder Goyal and Pankaj Chaddah, both alumnus of IIT Delhi, as a part time hobby with only 500 restaurant listings in Delhi NCR (including Gurgaon and Noida). Currently, the website claims to offer menus, reviews, ratings and contact details of over 5,000 eating joints in Delhi/NCR, Mumbai, Bengalooru, Kolkata and Pune.

Vivek Khare, senior vice president, corporate development, Info Edge India, has said, “Foodiebay is a start up with a young energetic management with great credentials. The space in which they are operating holds tremendous potential as a vastly scalable business. With disposable incomes on the rise and options of many cuisines consumers are increasingly looking at exploring new food options and Foodiebay will provide them a wide range of options.”

Deepinder Goyal, co-founder and CEO, Foodiebay, has said, “We are very excited to have Info Edge behind us. Info Edge is the leader in the online business space and with them coming on board it will give us a definite edge. We plan to use these funds to scale our operations and to develop the next generation of web, mobile and social products that will excite our users and also provide unique opportunities to the local business owners.”

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