InfoEdge (the company behind Naukri.com, Jeevansathi.com and 99acres.com) has announced plans to invest INR 4.7 Cr in Foodiebay, an online food and restaurant service.
Foodiebay (read our review when the site was launched) earlier collated reviews from various sources (like Times food guide, HT etc) and the site’s claim to fame has been the scanned restaurant menus. Two years later, the site has evolved into a popular destination for NCR region (has presence in Mumbai, Pune, Bangalore & Kolkata as well) and significant sources of revenues include advertising and rev-sharing deals with restaurants.
Foodiebay Traffic
Restaurant directory business monetization
The irony of local search business is that close to 80% of search is for F&B category (Food & Beverages), while the money is in the tail category, i.e. of services like courier, plumbers etc etc. Monetizing a lifestyle portal ain’t easy and one of the first things Foodiebay team plans to do with funding is to hire sales team.
Post funding, Foodiebay plans to expand into other cities like Hyderabad very soon.
Recommended Read: Facts & Myths in Indian Local Search Space [Insights from an Insider]
wow.. thats a great news. lets see what they do and how they do it post funding.
One more website in this category is http://www.khaaopiyo.com
But I thing Burrp is the best of all.
For Menu, I use foodiebay, but i found another one to make reservations – http://www.bookurtable.com . They have a cool mobile phone application. My brother installed it on his blackberry & I have it on my Nokia. best part – instant sms confirmation. No idea if they have funding.
All the best Foodiebay!
Hey Sikand thanks for showing this new site, liked it myself. I have installed their application to search for restaurants in on my Nokia. Its really cool im sure lot of people have stated using this. http://www.bookurtable.com looks like you have cracked it breaking the computer barrier
Cheers