Info Edge plans multiple web buys to boost growth

Info Edge (India) Ltd plans to spend part of its 4-billion-rupee cash reserve to buy multiple internet businesses and build a portfolio of web properties that could be a significant revenue contributor in five years, its chief executive said.

January 18, 2011 / 20:49 IST

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Info Edge (India) Ltd plans to spend part of its 4-billion-rupee cash reserve to buy multiple internet businesses and build a portfolio of web properties that could be a significant revenue contributor in five years, its chief executive said.

"We are investing outside, because we know some of these companies will become very big going forward. And we know that we can't do everything ourselves because we don't have the management bandwidth," Hitesh Oberoi told Reuters in an interview on Tuesday.

Info Edge runs job site naukri.com, matrimony site jeevansathi.com and property portal 99acres.com.

first published: Jan 18, 2011 07:18 pm

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