Info Edge Invests INR 180 Million in MyDala

mydala_traffic_thumb.png

Info Edge has informed BSE that the Company propose to invest an additional amount of Rs. 180 million (~USD 3.6 mn) through optionally convertible cumulative redeemable preference shares in Kinobeo Software Private Limited (i.e.  www.mydala.com). The Company had committed Rs. 90 million ($2mn) in the first round of funding in April 2011.

mydala_traffic

NCR based MyDala earlier raised seed money ($250K) from PE veterans Ajay Relan and Jayant Basu. The group buying site boasts of more than 3 million subscribers (and more than 250, 000 visitors every day).

Recommended List: List of group buying sites in India.

Recent investments by Info Edge

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *

Subscribe To Our Daily Newsletter

Get News, Insights and more in your inbox every day by 10 am for free

* indicates required