Info Edge Acquires 25% Stake In Edtech Startup Juno Learning

SUMMARY

The company has agreed to acquire 4,331 compulsorily convertible preference shares having a face value of INR 10, each as a primary acquisition of shares

Juno Learning offers interactive, online school services that teach sales techniques, processes and tools to students and entry-level professionals

Info Edge is also in the final stages of acquiring Indian dating platform Aisle

Info Edge has acquired a 25% stake in Gurugram-based edtech startup Juno Learning for INR 11.25 Cr, as per the company regulatory filing.

Juno, founded by Tarun Matta, is an interactive online school platform that teaches sales techniques, processes, and tools to entry-level professionals and students in an experiential manner, to enhance employability.

Matta built platforms such as IIMJobs.com in 2010 and Hirist.com in 2014 (online recruitment platforms in management and engineering space respectively). Both IIMJobs and Hirist.com were later acquired by Info Edge.

Matta, an IIT-IIM alumnus, started a blog in 2008 by accumulating several jobs for his friends and colleagues. He later founded IIMJobs to cater to job needs of those who have graduated from premier management institutes.

Meanwhile, Juno Learning was incorporated in November 2021 along with Sandhya Matta.

“The company has agreed to acquire 4,331 compulsorily convertible preference shares having face value of INR 10, each as 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,” said Info Edge’s filing.

“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,” said Info Edge.

Noida-based Info Edge runs Naukri.com, a matrimony website Jeevansathi.com, a real estate classifieds platform 99Acres.com and an educational website Shiksha.com.

Recently, it acquired an Indian dating platform Aisle in January 2022 for around INR 150 Cr. Last year, it had acquired two human resource tech startups DoSelect for INR 21 Cr and Zwayam Digital for INR 61 Cr in June.

Besides, Info Edge made an infusion of INR 374 Cr last year in November into its six subsidiaries – Allcheckdeals India, Axillary Labs, RedStart Labs, Startup Investment Holdings Limited, Startup Internet Services Ltd, and Zwayam Digital Ltd.