Info Edge (India) Limited has acquired a 25% stake in Gurugram-based EdTech startup Juno Learning for about INR 11.25 crore.
As per the company regulatory filing, Noida-based Info Edge has agreed to acquire 4,331 compulsorily convertible preference shares having a face value of INR 10 each as the primary acquisition of shares. The aggregate shareholding of the company, post this investment, in the said entity would be 25% on a fully converted and diluted basis.
Founded by Tarun Matta in 2021, Juno Learning is building an interactive online school that teaches sales techniques, processes, and tools to entry-level professionals and students in an experiential manner, to enhance employability.
Matta founded IIMJobs.com in 2010 and Hirist.com in 2014 (online recruitment platforms in the management and engineering space) to cater to the job needs of those who have graduated from premier management institutes. Both IIMJobs and Hirist.com were later acquired by Info Edge.
“As part of the strategy, the investment would help the company create and consolidate its presence into a niche vertical of sales upskilling. It perfectly fits into the company’s playbook to invest in adjacencies to recruitment and education verticals and create synergies with its existing businesses,” Info Edge said in a filing.
Info Edge runs online job portal Naukri.com, matrimony website Jeevansathi.com, real estate classifieds platform 99Acres.com, and educational website Shiksha.com among others.
