Just Dial gets investment worth Rs 40 crore from Sequoia Capital
Just Dial. com, India's no # 1 local search engine, has received an investment worth Rs 40 crore from Sequoia Capital India, to fund its business expansion plans.
The portal provides local phone as well as web search. The company has over 90 percent of the market share in domestic market.
Reports suggest that website reaches out to about 400 million mobile customers and 40 million internet users, across the globle. JustDial earlier raised funding from SAIF Partners and US based Tiger Global Management, for its expansion plan.
Under the arrangement, Sandeep Singhal, Managing Director, Sequoia Capital India, will join the board of Just Dial.
Market experts believes that Sequoia Capital's global experience and local expertise will add value and help fuel Just Dial's aggressive growth plans.
Presently, Sequoia's investment basket includes global leaders like Cisco, Google, Oracle, Electronic Arts and Yahoo! and market leaders in India including Café Coffee Day, SKS Microfinance, Naukri. com and Shaadi. com.