Info Edge Invests 20 Crore In eTechAces (Policybazaar.com)
Posted on September 27th, 2008 by dhirender
Info Edge India Ltd, the owners of Naukri.com, will be investing Rs 20 crore for a 49% stake in eTechAces Marketing and Consulting Pvt Ltd, which owns policybazaar.com, an online aggregator of life and non-life insurance products.
“The company’s bouquet of products include insurance products to be sold online, which is so far an untapped area in India. In other countries, especially in Europe, it is a high-growth category,” Info Edge’s CFO and Director, Ambarish Raghuvanshi, has said.
This year itself, Info Edge has invested in 3 companies – $1 million in StudyPlaces Inc, and $1.54 million (Rs 6.5 crore) for a 40% equity stake in Applect Learning Systems.
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Filed under: Deal Tracker
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