HappilyUnmarried.com raises $740K more from Naukri parent Info Edge


Happyunmarriedly_01Info Edge (India) Ltd, which runs a slew of consumer internet properties such as Naukri, 99acres, Jeevansathi and Shiksha, has infused Rs 5 crore ($740,000) more into in Delhi-based Happily Unmarried Marketing Pvt Ltd, the company behind HappilyUnmarried.com.

With this infusion, Info Edge’s total investment in Happily Unmarried is now Rs 21.3 crore and it holds about 48% stake in the firm.

Info Edge had invested Rs 5 crore in Happily Unmarried in January this year taking its holding to 44%.

Back of the envelope calculations show the venture could be valued around Rs 72 crore ($10.5 million) given fresh issue of equity convertible securities in the latest transaction.

Calls and text message to Hitesh Oberoi, managing director & CEO of Info Edge, went unanswered. An email query to Happily Unmarried late evening did not did not elicit any immediate response either.

Info Edge had originally put Rs 5 crore in the firm valuing it at Rs 20 crore in 2012. It later invested more in the hybrid online-offline retail platform for quirky products.

Established in 2003 by Rahul Anand and Rajat Tuli — both alumni of Mudra Institute of Communications (MICA), Ahmedabad — Happily Unmarried designs and sells fun products through a hybrid model of offline and online retail. It has also entered mens grooming products business under its brand Ustraa.

The company also organises music festivals and works with corporate houses for projects involving branding, communication, interiors and marketing – all rolled into one. The products featured on the company’s website include ashtrays, bags, beer glasses, cards & posters, cushions, glasses, key chains, tee shirts and wall clocks.

For Info Edge, this marks more venture style investments.

In June, it invested in contacts management venture Diro Labs and housekeeping services provider Unnati Helpers, as the parent of hiring portal Naukri.com spread its bets on startups.

In January it invested about $1.1 million (Rs 7.4 crore) in mobility-and cloud-based software developer Rare Media Company Pvt Ltd.

It also owns majority stake in restaurant listings platform Zomato and has also invested in Bangalore-based online photography startup Canvera Digital Technologies Pvt Ltd as well as MyDala, BigStylist and PolicyBazaar among others.

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