Info Edge to invest $3.5 m in 99labels.com

Info Edge, an IT firm that owns Naukri.com, will pick up stake in 99labels.com, investing about $3.5 million in the web portal. Of the total investment, a small portion will go towards buying stake from some shareholders and the rest will be used for funding the portal’s growth.

99labels.com partners with brands across fashion apparel, lifestyle products, accessories, footwear, watches, jewellery, fragrances and home decor to sell its products online. The investment will go towards increasing the company’s international brand offerings and creating awareness among target audience more aggressively. crackcrack