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Rare Media Acquires Funding From Info Edge

Rare Media

30 January, 2016, New Delhi: Rare Media Company Pvt Ltd. is pumped up to give its approach a new look as the company has received a seed funding of US $ 1 million from Info Edge. On the other hand, the investor, Delhi-based classified company, Info Edge has acquired 35 per cent stake in return. The sources revealed that the investment is done to uplift the operations of 99acers a real estate arm of Info Edge.

Founded in 2014 by Siddhartha Gupta, Rare Media is a Delhi based software services company which develops mobile applications on different platforms. Recently, company has launched its unique app called ‘Blue Dolphin’. The app enables the employer to track employee’s location and time keeping  on 3G enabled Android smartphones.

Visualising the future of the investment, Sanjeev Bikchandani, founder of Info Edge said, “We have invested in this company because there is certain dependability that 99acres has on this company .We want this company to be financially stable and have enough influence.” Info Edge runs consumer internet properties such as Naukri, 99acres, Jeevansathi and Shiksha.

About Nitin Konde

Nitin Konde
Nitin's passion for covering news full with facts and information has taken him to explore new horizons in the field of journalism. He strongly believes that startups in India have great potential of changing the face of the country and is extremely passionate about covering great work happening in the startup and tech ecosystem in India.

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