Info Edge set to invest in Rusk Media Private Limited

Info Edge (India) Limited announced today that IE Venture Fund I has entered into an agreement to invest about Rs 3.5 crore in Rusk Media Private Limited .

Rusk Media is engaged in the business to carry on the production of digital content across various genres such as fiction, music and lifestyle, technology amongst other things as well as distribution of such content across multiple platforms, brands and fields. It is also engaged in monetisation of the content through brand sponsorship in lieu of product placement/product integration, which helps the brands in reaching young audience who are active on the internet platforms for their content consumption.

Rusk Media is also in the business of working with external creators to generate content on a contractual basis, the same content, which is monetised by creating branded content with the same creators. It is also in the business of creating original content for over-the-top (OTT) platforms to generate revenue from either from OTT platforms or from the viewers directly. The said investment would help IE Venture Fund I to support and grow the business of Rusk Media in India.

IE Venture Fund I has agreed to acquire 2,779 -0.01 per cent seed series compulsorily convertible preference shares, having face value of Rs 10 each. The aggregate shareholding of IE Venture Fund I, post this investment, in Rusk Media would be 10 per cent on a fully-converted and diluted basis.

Info Edge has several online businesses, which have created brand for them. They include Naukri.com, Jeevansathi.com, Shiksha.com, 99acres.com. It also has investments in Zomato and Policybazaar.

Info Edge stock opened at 2940,  down by 0.68 per cent or Rs 20.4 per share from its previous day's close.