Info Edge acquires Zwayam for Rs. 61 crore
At a Glance
Info Edge India has acquired Zwayam Digital, a recruitment management SaaS platform. Info Edge operates companies like Naukri.com, Jeevansathi.com, and 99acres.com. The acquisition is worth Rs 61 crore (approx $8.3 million).
Info Edge India has announced that it has acquired Zwayam Digital, a recruitment management SaaS platform, for Rs 61 crore (approx $8.3 million). Info Edge India operates companies like Naukri.com, Jeevansathi.com, and 99acres.com.
Zwayam, through the acquisition, hopes to make the most of the ecosystem, expertise, and resources that Info Edge has to offer. According to the press release, Zwayam will have its own independent identity.
Zwayam, a Bengaluru-based startup founded by Joseph John, Nicel KM, Divya T, and Shreyas Tonse in 2015, uses artificial intelligence (AI) and machine learning (ML) to simplify and automate the recruiting process, from sourcing to onboarding.
Hitesh Oberoi, co-promoter, managing director, and CEO of Info Edge, said, “Zwayam has built a great recruitment automation product which serves the needs of the enterprise customers well. This acquisition will supplement and complement Info Edge’s current recruitment offerings and help it cement its position as a leader in the enterprise recruitment solutions market.”
Info Edge has previously invested in various Internet companies, including foodtech unicorn Zomato, women’s grooming portal Happily Unmarried, and AR Rahman-backed data-driven media business Qyuki.
Info Edge, based in Noida, was the pioneer in the dot-com business when it was launched in 1997. It established the Info Edge Venture Fund (IEVF) in January 2020 as an “alternative investment fund” to invest in tech and tech-enabled organizations that provide technology to produce, market, and distribute innovative goods and services that benefit consumers in general.
We are excited and look forward to the next phase of our journey with Info Edge. Info Edge will provide us with the necessary expertise and resources we need to support our customers better. Together, we should be able to serve 100% of our customers’ needs.Joseph John, CEO of Zwayam