InfoEdge to writeoff its $4.5mn Investment in 99Labels


InfoEdge to writeoff its $4.5mn Investment in 99Labels’s parent company, Info Edge is writing off its entire investment of about Rs. 293 million in Ninety Nine Labels Private Limited (which runs during the current quarter (as per BSE filing).

InfoEdge earlier invested $3.5million in 99labels around a year ago and six months back, the company invested $1mn in the company.

99Labels competes with FashionAndYou (which is fighting its own battle) and others like (acquired by Myntra) and here is the traffic drop of the site over the last few months.


InfoEdge recently announced its investment in Zomato and has acquired majority stake in the company.

hat tip:@roshanonline

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