Info Edge Ups Stake in Online Assessment & Education Co Meritnation
Internet company Info Edge has invested Rs 10 cr ($1.61 mn) in Applect Learning Systems, the company which runs Meritnation, an online education and assessment services.
Info Edge, which owns job portal Naukri and a few other sites, now owns 55.81% stake in Meritnation. The company has invested over Rs 71.5 cr ($11.53 mn) in Meritnation so far, the company informed the stock exchange.
At the end of March 2013, Meritnation was running at a Rs 21.4 cr operating loss on an operating revenue of Rs 9.8 cr.
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