Info Edge (India) Ltd, which owns internet leading portals such as Naukri, zomato, 99acres, Jeevansathi and Shiksha has invested an additional Rs 25 crore ($4 million) in Applect Learning Systems Pvt Ltd, which operates the online education and assessment venture Meritnation.
The investment has been made through optionally convertible cumulative redeemable preference shares in Applect, Noida-based Info Edge said in a communication to the stock exchanges. With the fresh investment, Info Edge’s total exposure to Applect has risen to Rs 97 crore .
Founded by Pavan Chauhan, an alumnus of IIM Bangalore, Meritnation provides multimedia tutorials, interactive exercises, assessment tools, exam help and expert support for students across India. Meritnation.com is an online education portal that provides interactive study material for students of classes 1st to 12th for CBSE, ICSE and other education boards. Its products are carefully designed to ensure maximum learning through proven techniques such as conceptual videos, adaptive learning and collaborative learning methods.
The website currently has 4.2 million registered users and attracts more than 7500 new registrations daily. Traffic on the site has grown impressively and has grown by 100% over last year and a majority of this can be attributed to the aggressive marketing Meritnation has indulged in.
In addition to curriculum aligned study material, Meritnation.com has an extensive personality development section that helps students identify and enhance their soft skills for a holistic development. They also offer online courses to help students prepare for important competitive exams such as JEE Mains and JEE Advanced, PMT/AIPMT/State PMTs, CPT, BBA, NDA and Hotel Management.
Recently, the company launched Meritnation Junior, a new product that focuses on concept-based learning for students of class I to V. Also, it launched four offline centres in Jaipur.