Foodiebay Backed By Info Edge With INR 4.7 Crore Funding

Foodiebay has definitely come a long way since we reviewed in late last year. Their growth has not gone unnoticed with Info Edge, the company that owns, Naukri.com and Jeevansaathi.com, amongst others, investing INR 4.7 crores in the website reviewing restaurants. This funding will help Foodiebay compete in this market with Burrp.com being its biggest competitor. Burrp.com covers more cities and restaurants as compared to Foodiebay, however with this new windfall, Foodiebay will look to expand in other cities and increase their work force.

Foodiebay Co-founder and CEO, Deepinder Goyal informs that the newly acquired funds will be used to develop new web, mobile and social products.

Web Presence

Foodiebay has to concentrate on improving its web presence in order to contend with the frontrunner in Burrp. By sprucing up the website, and maybe adding verticals like a review of all lounges and bars (done by tulleeho currently), will help Foodiebay increase market value.

Why Mobile?

We have been talking about mobile revolution a lot but the main reason for their move into the mobile space, according to us, will not be solely based on the mobile growth, but due to a certain JustDial.com. Just Dial allows users to call and ask for restaurants with good reviews or within a certain price range. Though they might not be able to read a review via the phone, customers instantly get a SMS with a list of all the good restaurants in the neighbourhood of his choice. Foodiebay might want to cash in on this.

Social space

Foodiebay already has a facebook page with over 24 thousand people liking it. With the new funds, the company might look to expand to many more social networks, and maybe useful social networking apps.

This funding is definitely great news for Foodiebay. Maybe not so much for its competitors. What do you think?