Four months after its blockbuster debut on the public markets, food delivery platform now wants to model itself after one of its early investors and largest shareholders- Info Edge.
It is looking to make financial investments to the tune of $50-$100 million in a clutch of startups over the next few quarters, as it wants to build a diverse investment portfolio and tap into the growing Internet market in India. over $1.25 Billion by listing on the public markets, comprising a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge.
Sources familiar with the development told that has approached founders of at least 10-20 startups in the consumer internet space with an offer to invest in them in return for a stake.
Of these, its investment reported about earlier this week, is likely to be announced along with its second-quarter results on November 10th, 2021. It is also likely to unveil its investment in business discovery and rewards which counts founder Deepinder as a board member. already made an investment for a 10 percent stake in the grocery delivery app,
Separately, sources said that might look to divest a sports discovery startup that it acquired in January this year, as it looks to get out of non-core businesses. did not comment for this story as it is in its silent period ahead of its earnings.
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EXCLUSIVE: wants to do an Info Edge, scouts for investments in startups
build an investment portfolio on top of its mainstay food delivery business is similar to the approach that Info Edge has in India or Tencent has in China.
Four months after its blockbuster debut on the public markets, food delivery platform now wants to model itself after one of its early investors and largest shareholders- Info Edge.
It is looking to make financial investments to the tune of $50-$100 million in a clutch of startups over the next few quarters, as it wants to build a diverse investment portfolio and tap into the growing Internet market in India.
raised over $1.25 Billion by listing on the public markets, comprising a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale (OFS) worth Rs 375 crore by existing investor Info Edge.
Sources familiar with the development told that has approached founders of at least 10-20 startups in the consumer internet space with an offer to invest in them in return for a stake.
Of these, its investment in reported about earlier this week, is likely to be announced along with its second-quarter results on November 10th, 2021. It is also likely to unveil its investment in business discovery and rewards which counts founder Deepinder as a board member. made an investment for a 10 percent stake in the grocery delivery app,
Separately, sources said that might look to divest a sports discovery startup that it acquired in January this year, as it looks to get out of non-core businesses. comment for this story as it is in its silent period ahead of its earnings.
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"There are at least 5-6 companies lined up for investments of $50-$200 million. They have been approaching dozens of companies with term sheets. These are consumer internet startups in the growth stage, with a valuation of less than $1 Billion, who they believe will do well," a person familiar with the development said.
Another source said that has also been expanding its corporate development team to scout for potential investments. reported in September that looking to beef up its finance function by hiring Nitin a senior partner at accounting firm Ernst & Young. chartered accountant, and lawyer specializes in transaction tax and structuring and will be part of CFO s team. had said then that it is in talks with a few folks to join team at
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