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Another <keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">edtech</keyword> startup <keyword id="4248184" type="General" weightage="100" keywordseo="udayy" source="Orion">Udayy</keyword>, backed by <keyword id="80004" type="General" weightage="50" keywordseo="info-edge" source="Orion">Info Edge</keyword>, has shut shop, laying off all 100 employees as schools, colleges and physical tuition centres reopen. Udayy's co-founder <keyword id="6553566" type="General" weightage="50" keywordseo="saumya-yadav" source="Orion">Saumya Yadav</keyword> said that the startup was witnessing the post-pandemic world for the first time as "as the kids went back to school, we faced roadblocks in growing the original model of online, live learning". "After a lot of deliberation, we decided that it's better to shut down the business than to spend more time and capital on it,a Yadav said. The development was first reported by startup news coverage portal Entrackr. The startup has paid employees severance packages and helped them find new jobs. "We are returning the remaining capital, around $8.5 million back to our investors," Yadav was quoted as saying in media reports. The live-learning platform catered to students from Grades 1 to 5. The platform raised $2.5 million in a seed funding round led by Alpha Wave Incubation (AWI), managed by <keyword id="4675626" type="General" weightage="50" keywordseo="falcon-edge-capital" source="Orion">Falcon Edge Capital</keyword> and <keyword id="12772224" type="General" weightage="50" keywordseo="infoedge-ventures" source="Orion">InfoEdge Ventures</keyword>. Udayy is the second edtech startup after Lido Learning to completely shut operations. Led by the edtech platforms, over 8,000 start-up employees have been recently hit by layoffs In India. This includes more than 1,000 employees at WhiteHat Jr, over 600 at Unacademy, over 424 at Vedantu and over 150 at Lido Learning. Another edtech firm FrontRow laid off nearly 150 full-time and contractual employees earlier this week. The Bengaluru-based non-academic upskilling startup fired almost 30 per cent of its workforce, owing to fund crunch and the market downturn. Apart from edtech firms, startups that have laid off employees in the past few months include social commerce platforms Trell (more than 300) and Meesho (150), used cars platform Cars24 (More than 600) and digital health platform Mfine (more than 500), among others.

Edtech startup 'Udayy' lays off all 100 employees as schools, and colleges physically reopen

<ul><li>Info Edge, one of the biggest promoters of <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>, sold 3.32% stake in Zomato via initial public offering (IPO) and currently holds 15.23%.</li><li>Info Edge had sold shares worth ₹ 375 crore in an offer for sale which has multiplied into ₹15,000 crore after listing. </li><li>This is because Zomato made a strong listing on exchanges today with a 51% premium and the market capitalisation soared to nearly ₹98,000 crore soon after.</li></ul>The market value of Info Edge’s stake in the newly-listed internet company Zomato has surged to a little less than ₹15,000 crore, which is about a quarter of its own market capitalisation. However, the stock showed little excitement post the successful listing of Zomato, one of its earliest investments. <div type="image" title="Info edge share" height="900" width="1200" msid="84669819" hostid="261"></div> Info Edge sold a 3.3% stake in the food delivery startup for ₹375 crore through the IPO. That would peg the total stake before IPO at about ₹11,000 crore. But now, after the <keyword id="9029084" type="UNKNOWN" weightage="20" keywordseo="zomato-IPO">Zomato IPO</keyword>, the remaining stake is worth a lot more than the entire stake before the sale. Initially the Sanjeev Bikhchandani-led Indian internet company was to sell shares worth ₹750 crore. Later, Info Edge, in a stock exchange <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/afaa5005-257c-49e8-8bfc-8ad84e66f47b.pdf">filing</a> released on July 4, said the board members have considered a reduction in the size of the offer for sale to ₹375 crore by the company. SEE ALSO: <a href="https://www.businessinsider.in/business/news/zomato-makes-a-strong-public-market-debut-at-51-premium-shares-open-at-115/articleshow/84667265.cms">Zomato makes a strong public market debut at 51% premium, shares open at ₹115 </a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-shares-fall-as-sc-rejects-agr-dues-re-computation-appeal/articleshow/84668288.cms">Vodafone Idea sinks nearly 10% and Airtel tumbles a bit after India’s Supreme Court denies a discount on past dues </a>

Info Edge’s remaining stake in Zomato is worth ₹15,000 crore

<ul><li>Info Edge is one of the earliest backers of Zomato, now valued $5.5 billion.</li><li>In a regulatory filing, Info Edge announced on Tuesday evening that it would sell ₹750 crore ($100 million) worth shares in Zomato’s IPO.</li><li>Further details would be shared with Zomato’s Draft Red Herring Prospectus, which the company is expected to file very soon.</li></ul>Info Edge announced on Tuesday evening that it would sell ₹750 crore ($100 million) worth shares in the upcoming initial public offering (IPO) of Zomato. The food delivery app is <a href="https://economictimes.indiatimes.com/tech/startups/info-edge-to-sell-rs-750-crore-zomato-shares-in-upcoming-ipo/articleshow/82278986.cms">likely</a> to be valued between $6-8 billion in its IPO. And the markets cheered the move – Info Edge share price was up by 2.5% in morning trade as of 9.20 am. However, later as of 9.57 am, it settled at ₹4994.5, a jump of 0.91%. <div type="image" title="INFO EDGE NEW" msid="82285680" hostid="261"></div> In a regulatory filing, Info Edge said, “The Board of Directors of the Company today considered and have given their approval to the Company to participate in the said Offer for Sale of up to such number of shares of Zomato Limited as would aggregate upto ₹7,500 million.” Further details would be shared with Zomato’s Draft Red Herring Prospectus, which the company is expected to file <a href="https://economictimes.indiatimes.com/tech/startups/info-edge-to-sell-rs-750-crore-zomato-shares-in-upcoming-ipo/articleshow/82278986.cms">very soon.</a> Info Edge, which holds as much as 20% stake in Zomato, has been one of the earliest backers of the company. “When we started investing there was no Softbank, we were in the mindset to start investing in businesses that we understand. One of the first companies we invested in was Zomato – the first cheque we wrote was for a million dollars. They used to do business listings – previews, menus, and we thought acha lag raha hain (looks good). It was not even called Zomato then it was called foodiebay,” Info Edge CEO Hitesh Oberoi had told Business Insider in an interview in 2019. Info Edge’s core business includes four internet firms that are spread across lucrative industries – recruitment portal Naukri.com, real estate aggregator 99acres.com, matrimony platform Jeevansaathi.com and edtech vertical Shiksha.com. SEE ALSO: <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-phase-3-registration-on-cowin-and-aarogya-setu-not-working-for-18-on-28-april-morning/articleshow/82284828.cms">COVID-19 vaccine phase 3: Anxious Indians are complaining of CoWIN and Aarogya Setu registration being delayed</a>

Info Edge shares jump by 2.5% as markets cheer its move to sell ₹750 crore worth shares in the upcoming Zomato IPO

Hot stocks like IRCTC, IndiaMART, Info Edge, ITC corrected up to 10% from their recent peaks

<ul><li><keyword id="3401632" type="PERSON" weightage="20" keywordseo="InfoEdge">InfoEdge</keyword> has acquired Highorbit Careers Pvt. Ltd which runs <keyword id="2597894" type="PERSON" weightage="20" keywordseo="IIMJobs">iimjobs</keyword> and hirist.com in a deal worth ₹808.1 million. </li><li><keyword id="79563" type="COMPANY" weightage="20" keywordseo="Naukri">Naukri</keyword> has more than 475,000 jobs on its platform at any given point and has more than 60 million registered job seekers on its platform.</li><li>InfoEdge runs Naukri.com, jeevansathi.com, 99acres.com and shiksha.com was one of India’s early startups to head for an IPO. </li></ul>One of India’s earliest internet companies InfoEdge, which runs the country’s oldest and biggest recruitment portals like Naukri.com, has acquired Highorbit Careers Pvt. Ltd which runs iimjobs and hirist.com. “In India, internet businesses are just starting. We continue to look for good opportunities outside to invest for our internal businesses to grow,” Hitesh Oberoi, Co-Promoter, MD and CEO, InfoEdge had told Business Insider. InfoEdge will be acquiring 100% of Highorbit Careers Pvt. Ltd in a deal worth ₹808.1 million. Naukri has more than 475,000 jobs on its platform, along with more than 60 million registered jobseekers. With products such as Resume Database Access, Job Postings and Response Management Tool for over 76,000 corporate clients, the portal has a traffic share of over 70%. iimjobs, which was founded in 2010, has 23,000 job postings with 1.8 million job seekers every month. In 2016, iimjobs had raised funding worth $2 million from India Quotient, an early stage investment firm. According to <a href="https://inc42.com/features/the-128-startups-that-raised-funding-from-the-dipps-fund-of-funds/">reports,</a> iimjobs had also raised funding from Department for Promotion of Industry and Internal Trade. “iimjobs has managed to carve a niche for itself and has built a great brand in the premium jobseeker community. Its value proposition strongly complements Naukri’s proposition to its customers,” said Oberoi. InfoEdge, which runs Naukri.com, jeevansathi.com, 99acres.com and shiksha.com, was one of India’s early startups to head for an IPO. See Also: <a href="https://www.businessinsider.in/ibm-watson-to-mentor-indian-women-in-emerging-tech/articleshow/68385820.cms">IBM’s AI platform Watson to mentor over a million Indian women for ‘new collar’ jobs</a>

Naukri.com parent InfoEdge acquires rival portal iimjobs for ₹808.1 million

It was an event waiting to happen for a long time, CEO of <keyword id="4038312" type="UNKNOWN" weightage="20" keywordseo="google-sundar-pichai">Google Sundar Pichai</keyword> visiting his Alma Mater, IIT Kharagpur. Apart from going to his dorm room which he said hadn’t changed at all since the time he graduated in 1993 to visiting the science lab where he spent countless hours during his four years of engineering he took the stage in the fully packed amphitheater and took seat right opposite to the side where he sat many a times when he was a student there, raising hands, asking questions, this time he was the one being asked the questions. 
 It was a familiar set up, a one on one with <keyword id="1604185" type="PERSON" weightage="20" keywordseo="Pichai">Pichai</keyword> where he was being interviewed, just like the time he addressed the students of SRCC. While the previous time Pichai was interviewed by cricket commentator <keyword id="32616" type="PERSON" weightage="20" keywordseo="Harsha-Bhogle">Harsha Bhogle</keyword> this time around Pichai sat across Harish Oberoi, CEO of <keyword id="3401632" type="COMPANY" weightage="20" keywordseo="Infoedge">InfoEdge</keyword> and an engineer from <keyword id="57604" type="CITY" weightage="20" keywordseo="iit-delhi">IIT Delhi</keyword>. And of course as expected the conversations dived straight into what advice does Pichai have for the students of IIT Kharagpur. The students listened intently to every word he had to say switching from being in reverential awe to finding him extremely relatable. And Pichai’s advice to the students reflected his own personality, simple and effective.

From one engineer to other, Sundar Pichai’s
advice to students at IIT Kharagpur

Google-backed government job preparation platform Adda247 on Monday said it has granted stock options worth ₹150 crore under its employee stock ownership plan (<keyword id="120103" type="General" weightage="80" keywordseo="esop" source="Orion">ESOP</keyword>) programme to its workers. The ESOP policy currently has a vesting period of four years and aims to reward exceptional talent while continuously valuing employees, the company said in a statement. "The entire purpose of ESOP policy is also to give priority and importance to our employees. Eventually, we want to generate wealth for all our employees with the dream to create at least a hundred crorepatis from our employees prior to our IPO," said <keyword id="1083572" type="General" weightage="80" keywordseo="anil-nagar" source="Orion">Anil Nagar</keyword>, Founder &amp; CEO of Adda247. Adda247 first launched its ESOP policy in 2016 and has rewarded around 10 per cent of its workforce across levels to date. "We as an organisation are committed to building a solid long-term business for our employees as they are our biggest asset," said <keyword id="352238" type="General" weightage="80" keywordseo="saurabh-bansal" source="Orion">Saurabh Bansal</keyword>, <keyword id="5393912" type="General" weightage="80" keywordseo="cofounder-coo" source="Orion">CoFounder COO</keyword>, Adda247. Adda247 caters to nearly 80-100 million government job aspirants across the country in 12 vernacular languages. The company recently acquired the UPSC-focused ed-tech platform, StudyIQ Education. Adda247 currently has 22 million monthly active users, and a total of 2 million paid users. The platform recently raised $35 million from marquee investors like <keyword id="6355629" type="General" weightage="100" keywordseo="google" source="Orion">Google</keyword>, WestBridge Capital, Infoedge and Asha Impact. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/wework-india-raises-550-cr-from-bpea-credit-managed-fund/articleshow/96510858.cms">WeWork India raises ₹550 cr from BPEA Credit-managed fund</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/best-7-seater-cars-under-15-lakh-scorpio-n-ertiga-carens-and-more/slidelist/96512128.cms">Best 7-seater cars under ₹15 lakh – Scorpio N, Ertiga, Carens, and more</a>

Google-backed Adda247 grants ESOPs worth ₹150 crore to employees

Business Insider is hosting an annual business conclave on the <keyword id="1967222" type="General" weightage="100" keywordseo="future-of-work" source="Orion">Future of Work</keyword> this year on March 17th in Mumbai, focussed on India’s biggest audience base: job seekers. The event is being co-powered by Google Cloud. This year has ushered in a new paradigm for work, workplace and the workforce. To thrive in this post-pandemic environment, the lens is shifting to strategies that help retain talent, with a renewed focus on people. It is a crucial year as organizations look to make workplaces more humane amidst digital adoption, find a balance between hybrid and physical work space and create a more equitable environment overall. <cmsannotation type="cmsannotation" annotationid="Human capital at an inflection point" comment="subhead" text="Human capital at an inflection point">Human capital at an inflection point</cmsannotation> With a changed talent landscape, companies have to rethink workforce strategies beyond the traditional Bottomline-driven approach. Human capital is at an inflection point because companies have had to adapt to too many changes too soon through the pandemic years. One needs to re-imagine human capital strategies keeping that inflection point in mind, which includes culture shifts, rising influence of AI, quiet quitting, mental health and layoffs. And most importantly, the evolving role of leadership and human resources in the changing world order to find the confluence between work, technology and human experience. Register here to know more about FoW summit: <a href="https://future-of-work.in/#popmake-497">https://future-of-work.in/#popmake-497</a> These are themes that we will be focussing on in our one-day event: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.6000000000000001pt;border-right:solid #cccccc 0.6000000000000001pt;border-bottom:solid #cccccc 0.6000000000000001pt;border-top:solid #cccccc 0.6000000000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>The future of work and technology and the tools driving digital transformation across workplaces over the next decade</li></ul></td></tr><tr><td style="border-left:solid #cccccc 0.6000000000000001pt;border-right:solid #cccccc 0.6000000000000001pt;border-bottom:solid #cccccc 0.6000000000000001pt;border-top:solid #cccccc 0.6000000000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>How are HR leaders looking to reshape the human capital management landscape in 2023?</li></ul></td></tr><tr><td style="border-left:solid #cccccc 0.6000000000000001pt;border-right:solid #cccccc 0.6000000000000001pt;border-bottom:solid #cccccc 0.6000000000000001pt;border-top:solid #cccccc 0.6000000000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>Redefining a performance-driven culture and work towards an inclusive, collaborative approach to enhance productivity and talent retention</li></ul></td></tr><tr><td style="border-left:solid #cccccc 0.6000000000000001pt;border-right:solid #cccccc 0.6000000000000001pt;border-bottom:solid #cccccc 0.6000000000000001pt;border-top:solid #cccccc 0.6000000000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>Learning and Development: Upskilling is crucial to remain relevant in the modern workplace across sectors</li></ul></td></tr><tr><td style="border-left:solid #cccccc 0.6000000000000001pt;border-right:solid #cccccc 0.6000000000000001pt;border-bottom:solid #cccccc 0.6000000000000001pt;border-top:solid #cccccc 0.6000000000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>The need for policies to align employee growth and business strategies to ensure that both workforce and business can thrive</li></ul></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Our previous edition of Future of Work featured former CEA KV Subramanian, <keyword id="1175200" type="General" weightage="50" keywordseo="sanjeev-bikchandani" source="Orion">Sanjeev Bikchandani</keyword> of InfoEdge, <keyword id="25725" type="General" weightage="50" keywordseo="ronnie-screwvala" source="Orion">Ronnie Screwvala</keyword> of Upgrad, Oscar nominee Guneet Monga, National Award winning filmmaker Rakesh <keyword id="339527" type="General" weightage="50" keywordseo="omprakash-mehra" source="Orion">Omprakash Mehra</keyword>, Best selling author global keynote speaker &amp; podcast host <keyword id="1859852" type="General" weightage="50" keywordseo="dan-schawbel" source="Orion">Dan Schawbel</keyword>, Varun Khaitan of Urban Company, Global expert on Future of Work &amp; author Ben Pring and many others. Business Insider’s FUTURE OF WORK is the knowledge sharing platform where we bring forth cutting edge thinking from the world’s leading thinkers, enablers and doers. Simply put, a platform for all to bring conversations and ideas together and learn from each other. We are proud to have Aon on board as our knowledge partner of the conclave. See you in our one-of-a-kind annual gathering on March 17th in Mumbai. Register here to know more about FoW summit: <a href="https://future-of-work.in/#popmake-497">https://future-of-work.in/#popmake-497</a>

Future of Work 2023 ⁠— a confluence of the brightest minds reimagining the new era of work, workplace and workforce

Gurugram-based offline-to-online commerce platform <keyword id="8103952" type="General" weightage="100" keywordseo="dotpe" source="Orion">DotPe</keyword> on Monday said it has raised $58 million in its series B funding round led by Temasek. The platform, which "plans to foray into financial services", currently serves over 7.5 million brands across the country. The funding round saw participation from existing investors PayU, the payments and fintech business of Prosus, and InfoEdge Ventures while Mitsubishi &amp; Naya Capital joined as new investors. "As we keep democratising opportunities for business growth with our omni-channel solutions and making technology more affordable and accessible, we also plan to foray into financial services and further empower merchants with business loans &amp; credit lines to turbocharge their growth," said <keyword id="3204218" type="General" weightage="50" keywordseo="shailaz-nag" source="Orion">Shailaz Nag</keyword>, Co-Founder and CEO, DotPe. Founded in 2020, DotPe's merchant-base has grown over 3 times since launch. In March, DotPe secured $27.5 million (around Rs 200 crore) in Series A funding as <keyword id="6355629" type="General" weightage="50" keywordseo="google" source="Orion">Google</keyword> joined PayU and Info Edge Ventures as investors. "We look forward to empowering more Indian businesses with the benefits of digitization and co-creating a brighter future for the country's merchant community," said <keyword id="15022820" type="General" weightage="50" keywordseo="vijay-agicha" source="Orion">Vijay Agicha</keyword>, Global Head of Strategy and Growth at PayU. Started by ex-PayU Founder <keyword id="25067" type="General" weightage="50" keywordseo="nag" source="Orion">Nag</keyword> with Gyanesh Sharma and Anurag Gupta, DotPe has digitised enterprise as well as small and medium-sized business (SMB) merchants through a "full stack" solution. The company said that on the enterprise side, it has integration with over 10,000 restaurants and food courts, including leading global and domestic food and beverage brands. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/laying-off-200-engineers-to-centralise-operations-clarifies-ola-ld/articleshow/94296026.cms">Laying off 200 engineers to 'centralise' operations, clarifies Ola (Ld)</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ev-battery-can-charge-in-three-minutes-a-harvard-backed-company-claimed/articleshow/94295446.cms">Harvard-backed company makes an EV battery that fully charges in three minutes</a>

DotPe raises $58 mn, plans to foray into financial services

<keyword id="1972612" type="General" weightage="20" keywordseo="coinbase" source="Orion">Coinbase</keyword>, one of the leading <keyword id="6357017" type="General" weightage="20" keywordseo="Cryptocurrency" source="Orion">cryptocurrency</keyword> exchanges, has blocked over 25,000 addresses related to Russian individuals or entities engaged in illicit activity. Coinbase said when a user opens an account, it checks provided information against a list of sanctioned individuals or entities provided by US, the UK, European Union, UN, Singapore, Canada, and Japan, as well as blocking users from sanctioned areas such as Crimea, North Korea, Syria, and Iran. "If someone has opened a Coinbase account and is later sanctioned, we use this ongoing screening process to identify that account and terminate it. Because sanctions evaders often try to mask their identities, Coinbase also proactively works to map transactions beyond the entities and individuals specifically flagged by governments," it said in a statement late on Monday. "Through advanced <keyword id="6355684" type="General" weightage="20" keywordseo="blockchain" source="Orion">blockchain</keyword> analysis, we proactively identified over 1,200 additional addresses potentially associated with the sanctioned individual, which we added to our internal blocklist," said Paul Grewal, Chief Legal Officer. The company revealed that it keeps a list of accounts held by sanctioned people outside of Coinbase. "When the United States sanctioned a Russian national in 2020, it specifically listed three associated blockchain addresses," it said. "Through advanced blockchain analysis, we proactively identified over 1,200 additional addresses potentially associated with the sanctioned individual, which we added to our internal blocklist." Coinbase also claimed that digital assets are able to "naturally deter common approaches to sanctions evasion". Several of the blocked Russian individuals or entities Coinbase identified through its own proactive investigations. "The Russian government and other sanctioned actors would need virtually unobtainable amounts of digital assets to meaningfully counteract current sanctions. The Russian central bank alone holds over $630 billion in largely immobilized reserve assets," it informed. That's larger than the total market capitalisation of all but one digital asset, and 5-10 times the total daily traded volume of all digital assets. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/rbi-launched-upi123pay-here-is-how-upi-would-work-on-feature-phones/articleshow/90073275.cms">EXPLAINED: Here is how UPI would work on feature phones and offline mode</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/indias-finance-minister-nirmala-sitharaman-says-she-expects-the-central-bank-to-roll-out-the-countrys-digital-currency-this-year/articleshow/90074661.cms">India’s Finance Minister Nirmala Sitharaman says she expects the central bank to roll out the country’s digital currency this year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/infoedge-acquires-76-stake-in-dating-app-aisle/articleshow/90075620.cms">InfoEdge acquires 76% stake in dating app Aisle</a>

Cryptocurrency exchange Coinbase blocks 25,000 Russia-linked accounts

<ul><li>The India’s oldest internet company plans to raise ₹1875 crore by selling shares to qualified institutional investors. </li><li>The stock has grown by 70% since the lockdown began in March.</li><li>Eventually, the 11% growth in annual consolidated revenue was much better than estimates. </li></ul>Info Edge stocks jumped over 5% in early trade on Tuesday (June 23) after a sharp fall in quarterly and a plan to raise more money through new shares issued to qualified institutional investors. The $5 billion company, which runs <keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, Jeevansaath.com, 99acres.com and Shiksha.com, continues to be one of India’s largest internet companies. Investors had feared the company to perform a lot worse. So much so that a 60% fall in profit was better than expectation. <div type="image" title="info edge share latest." msid="76525158" hostid="261"></div> Better than what analysts expected <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">InfoEdge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial revenue estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1272.7 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Actual revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1416.3 crore </td></tr></tbody></table> One of the better bets Internet businesses are being seen <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms">as some of the safer bets</a> amidst the global recession triggered by the COVID-19 pandemic. And InfoEdge is one of the big ones in that space. “We believe the crisis will expedite the offline to online transition of several small/large businesses that could help Info Edge deliver exceptional performance over the medium to long term due to its strong fundamentals and superior market positioning,” said the JM Financial report. Naukri’s India business, which makes for one-third of InfoEdge’s annual consolidated revenue, saw a year-on-year decline of collection by ₹14 crore in the fourth quarter of FY20 and it worsened in April with a decline of ₹26 crore as compared to the same month the previous year. But that was due to the lockdown. Just before that, Naukri was growing at 13% (year-on-year) until mid March, according to the company. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-March 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue growth (YoY) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit growth (YoY) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Naukri.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">99acres.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss shrinks to a third </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss has doubled </td></tr></tbody></table> And the promoters are cashing in. The company is set to raise ₹1875 crore through Qualified institutional placement i.e. selling new equity shares to big institutions. The internet company’s bid to raise funds through the unique method if successful will make it the <a href="https://www.livemint.com/news/india/info-edge-board-approves-raising-up-to-rs1-875-crore-through-qip-11592883581371.html">third company </a>(after Kotak Mahindra Bank and JM Financial) to raise capital through QIP since March this year. SEE ALSO: <a href="https://www.businessinsider.in/business/news/donald-trumps-h-1b-visa-ban-incites-a-sharp-reaction-from-indian-tech-company-like-wipro-tcs-infosys-tech-mahindra/articleshow/76524525.cms">Donald Trump's H-1B visa ban incites a sharp reaction from India's tech lobby</a> <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms">HCL Tech, InfoEdge, Biocon and their peers may be safe stocks to hide for the rest of 2020</a>

Here’s why Info Edge stocks rallied over 5% despite 60% fall in quarterly profit

<ul><li>While benchmark index Sensex has gained 1.55% in the last one month, these 10 stocks have lost more than 15% each during the period.</li><li>Note that markets across the globe have been very volatile and witnessed huge sell-off on expectation that the US Fed will hike interest rates sooner.</li><li>Check out the latest budget news and updates on <a href="https://www.businessinsider.in/budget">Business Insider</a>.</li></ul>Some of the most valuable stocks like Wipro, L&amp;T Infotech, Mindtree, Infoedge have witnessed huge sell-offs in the last 30 days. Some of it is also because investors across the globe are worried about high inflation and tighter monetary policies. Global markets have been very <a href="https://www.businessinsider.in/stock-market/news/indian-markets-see-huge-sell-off-after-us-fed-says-interest-rate-hike-will-be-sooner-than-expected/articleshow/88728326.cms#:~:text=sooner%20than%20expected-,Indian%20markets%20see%20huge%20sell%2Doff%20after%20US%20Fed%20says,will%20be%20sooner%20than%20expected&amp;text=Markets%20were%20swayed%20by%20the,will%20stop%20economic%20stimulus%20measures.">volatile in the last one month on expectation </a>that the US Fed will hike interest rates sooner and will stop measures for economic stimulus. In the last one month benchmark index Sensex has gained 1.55%. Here are 10 stocks that have lost more than 15% each during the period. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top 10 losers that lost more than 15% in last one month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RBL Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-20% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Lal Pathlabs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zee Entertainment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Info Edge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indraprastha Gas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vodafone Idea </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PI Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T Infotech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-15% </td></tr></tbody></table>Shares of <a href="https://www.businessinsider.in/stock-market/news/rbl-bank-bandhan-bank-strides-pharma-saw-sharp-losses-this-year/slidelist/88614089.cms#slideid=88614546">RBL Bank </a>and <a href="https://www.businessinsider.in/stock-market/news/zee-entertainment-shares-hits-upper-circuit-after-two-independent-directors-resign-on-investors-demand/articleshow/86189814.cms">Zee Entertainment Enterprises </a>have been under pressure for several months because of corporate misgovernance at the management level. Shares of technology and pharma companies have fallen the most in the last one month. Telecom operator Vodafone Idea’s fell sharply on ballooning losses and declining subscriber numbers. Meanwhile, Info Edge slipped significantly after its invested companies —online food aggregator Zomato and online insurance distributor PolicyBazaar — saw huge sell-off since IPO listing. While the emerging electric vehicle industry is booming for the right reasons, some gas companies are worried about their future. The government's efforts on promoting green energy to control pollution pose a threat to the growth of compressed natural gas sales for Indraprastha Gas. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/icici-bank-has-potential-to-make-lot-of-money-for-investors-say-analysts/articleshow/89086297.cms">ICICI Bank shares are sulking with the rest of the market, but analysts say it could make a lot of money for investors</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/there-is-a-silver-lining-in-vodafone-ideas-dark-numbers/articleshow/89086056.cms">There is a silver lining in Vodafone Idea’s dark numbers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-wilmar-is-looking-to-acquire-southern-players-in-edible-oil-fmcg-industry/articleshow/89080514.cms">Fortune oil maker Adani Wilmar is looking to acquire southern players in edible oil, FMCG industry</a>

You Searched For "InfoEdge" and got 12 results

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Naukri.com parent InfoEdge acquires rival portal iimjobs for ₹808.1 million

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Here’s why Info Edge stocks rallied over 5% despite 60% fall in quarterly profit

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Wipro, L&T Infotech, Zee Entertainment, Mindtree among top losers that hit investors’ portfolio in the last one month

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