Startup Originals Team
One of India’s most extraordinary startup success stories began quietly between 2010 and 2013, when Info Edge, best known as the parent company of Naukri.com, made an early and contrarian bet on a young food delivery startup called Zomato, now rebranded as Eternal. At a time when online food ordering in India was still unproven, Info Edge invested just ₹86 crore, a decision that would later become one of the most celebrated investments in India’s startup ecosystem.
Backing an Unproven Market Early
When Info Edge began investing in Zomato, the idea of ordering food online was far from mainstream. Internet penetration was limited, digital payments were still evolving, and the unit economics of food delivery were widely questioned.
Yet Info Edge saw long-term potential. Rather than chasing short-term returns, the company chose to back the founding team early and give the business time to experiment, scale, and refine its model. This patient capital approach stood in contrast to more aggressive, quick-exit strategies common at the time.
Staying the Course Through Dilution
As Zomato raised multiple funding rounds over the years and eventually went public in 2021, Info Edge’s stake was diluted—but the company never exited fully. Instead, it continued to hold a meaningful ownership position, reflecting strong conviction in the business and its leadership.
As of the September quarter of FY2026, Info Edge owned approximately 12.38% of Eternal, equivalent to about 119.46 crore shares. At a share price of around ₹282.85, this stake is valued at nearly ₹32,000 crore, a staggering multi-fold return on the original ₹86 crore investment.
A Masterclass in Venture Investing
This value creation highlights Info Edge’s disciplined venture capital strategy and its ability to identify high-potential technology startups at an early stage. Rather than focusing on rapid exits, the company has consistently followed a long-term, founder-first approach.
Founder Sanjeev Bikhchandani has often spoken about the importance of patience in startup investing, backing strong founders early and allowing businesses the time required to mature, even through periods of volatility and scepticism.
Eternal’s Market Journey Strengthens the Story
Eternal’s stock performance has further reinforced this narrative. Since its IPO, the company’s shares have seen strong appreciation, reaching an all-time high of ₹368.45 in October 2025, more than 122% above its listing price.
Today, Eternal is part of key benchmark indices such as the Sensex and Nifty, signalling sustained investor confidence and its position as a core company in India’s public markets.
A Defining Chapter in India’s Startup Evolution
Info Edge’s Zomato investment is more than a financial success, it is a case study in conviction, patience, and strategic foresight. It demonstrates how early belief, combined with long-term thinking, can create generational wealth and reshape industries.
As India’s startup ecosystem continues to mature, this story stands as a benchmark for founders and investors alike, proof that the biggest outcomes often come not from timing exits perfectly, but from staying invested long enough for vision to compound.
