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India’s first venture backed IPO!

June 23, 2006

Info Edge India Pvt. Ltd. the company who runs a job site called Naukri.com  filed to raise $29MM in an IPO on the Bombay Stock Exchange.  The company says the funds will be used for M&A.  The company was funded ($4.7MM earlier this year) by Silicon Valley powerhouse Kleiner Perkins and Sherpalo Ventures.
Sanjeev Bikhchandani the CEO of the company stated, “Our plans are to be India’s leading internet company with a clutch of 5-6 focused verticles with leadership in each of the spaces it advertizes in.”  Other Info Edge properties inlcude jeevansathi.com and 99acres.com.

According to alarm:clock the company had revenues of $18.6MM with a $3MM profit last year.

In other India deals, Kleiner has invested in Cleartrip Travel Services Pvt. Ltd. and online travel company.

Written by Alexander Muse · Filed Under Blog 

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