India: Naukri.com owner Info Edge picks 25% in beauty services marketplace BigStylist

Image from BigStylist website

Info Edge Ltd, the owner of recruitment portal Naukri, has acquired 25% stake in on-demand beauty services marketplace BigStylist for about $1 million (Rs 6.4 crore), said a report in The Economic Times.

Founded by IIT-Kharagpur graduates Richa Singh, Anurag Srivastava and Chinmaya Sharma in July this year, the Mumbai-based start-up is also in talks with investors to raise about $5 million in a funding round, the report added.

BigStylist is an on-demand marketplace for beauty professionals, and its services can be availed via the company’s website or Andrioid app on smartphones. The start-ups claims to have served more than 3,000 customers in Mumbai since its launch, and plans to expand its services to a few other big cities including Bengaluru by March next year.

With this deal with Info Edge, BigStylist aims to cash in on the fast growing beauty and wellness services market in India.

Recently, another start-up in similar space MyGlamm raised $15 million in second round of funding from US-based PE player Tano Capital. In June, Housejoy, which operates Beautyjoy, raised $4 million in Series A funding from Matrix Partners to scale-up its operations.

Info Edge in the past has been quite active with investments in early stage companies, start-up ventures to tap into the growing and vibrant Indian e-commerce market. Currently, the company has investments in e-commerce marketplaces including Zomato, Meritnation, Policybazaar, Mydala, and Happily Unmarried.

Also Read: Indian online beauty retailer Nykaa.com raises raises $9.5m from multiple investors

Amazon in talks to buy stake in Housejoy

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.