BWI: Info Edge Invests $6.5M in Canvera

Press release from Business Wire India
Source: Canvera Digital Technologies Private Limited
Tuesday, August 28, 2012 07:17 PM IST (01:47 PM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Business services, Information technology, Major diversified industrial groups, Media & entertainment; Technology
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Info Edge Invests $6.5M in Canvera


Bangalore, Karnataka, India, Tuesday, August 28, 2012 -- (Business Wire India) -- Canvera.com, India's leading online photography company, today announced that Info Edge, owner of Naukri.com, made an investment of $6.5M (Rs35CR) in the company. Info Edge has made a number of investments previously in companies such as Zomato, Meritnation, MyDala, PolicyBazaar, 99labels etc but this is their largest investment to date. "The Canvera team has done a fabulous job of building a world class photography brand addressing the unique challenges of India. With their key focus on operational excellence and building a great culture we saw in Canvera a reflection of Naukri in our early days which is why we made this investment," said Sanjeev Bikchandani, Founder and Executive Vice Chairman, Info Edge. Dr. Dhiraj Kacker, CEO & Co-Founder of Canvera said, "Naukri's unique operating experience in building a scalable and highly profitable online business serving nearly every part of India is going to be invaluable as we scale the company to the next level. I am really excited to welcome Info Edge to Canvera." With this round of funding Canvera has raised a total of approximately $13M (Rs70CR) in funding, the previous rounds coming from Footprint Ventures, DFJ & Mumbai Angels.

About Canvera

Canvera is an online photography company serving the needs of photographers through a platform that tightly integrates web hosting, e-commerce, collaboration, print and design services. Canvera services the needs of photographers in over 300 cities all over India. Canvera's products and services are used by photographers to both deliver a high quality experience to their clients and also to market themselves better. Canvera's coffee-table-books were twice awarded the Best Photobook in Asia Pacific & Japan at the annual HP Digital Print Awards in 2008 & 2009 and runners up in the 2011. Canvera was also given the Best Innovation in Technology award by Asian Photography magazine for "bringing professionalism and innovation to an unorganized market" and the TiE-Lumis award for "Entrepreneurial Excellence". Canvera was founded by Dr. Dhiraj Kacker (CEO) and Peeyush Rai (CTO) who have previously worked at numerous successful startups in Silicon Valley. Canvera is financially backed by Footprint Ventures ( www.footprintventures.com), DFJ ( www.dfj.com), Info Edge ( www.infoedge.in) and Mumbai Angels ( www.mumbaiangels.com ).

About Info Edge and Naukri.com

Info Edge is the owner of Naukri.com, India's No. 1 job site. Naukri revolutionized the concept of recruitment in India. Since its inception in 1997, Naukri.com has seen continued growth while outperforming its competitors in every sphere. Info Edge was the first internet company to do an IPO in India. The site enjoys a traffic share upwards of 60% among jobsites in India. Naukri.com is a recruitment platform that provides hiring-related services to companies, recruiters, placement agencies and to job seekers in India and overseas. It offers multiple products like Resume Database Access, and Response Management tools and its services include Job Postings, and recruiter branding solutions on the site. With 230000 jobs live at any point, Naukri.com serviced over 42000 corporate clients in 2010-2011. The company has over 2300 people operating through 53 offices in 34 cities in India and overseas offices in Dubai, Riyadh and Bahrain



CONTACT DETAILS
Aditya Kothari, aditya@canvera.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BUSINESS SERVICES, IT, GROUPS, MEDIA, TECHNOLOGY

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