Sequoia Capital India today announced that it has invested Rs 40 Cr. in Just Dial, India’s No. 1 local search engine. Just Dial has revolutionized the concept of local phone and web search and provided people with an efficient interface for accessing information across India.
Sequoia Capital’s global experience and local expertise will add value and help fuel Just Dial’s aggressive growth plans. Sandeep Singhal, Managing Director, Sequoia Capital India, will join the board of Just Dial. Sequoia’s portfolio 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.
Just Dial is a clear leader in the local search space, with over 90% market share, reaching out to 400 million mobile customers across 240 cities and 40 million internet users. The company has introduced many innovations to benefit customers, the most recent being a single number that is available across 240 cities. The increase in customer calls from 60,000 to 200,000 per day is testimony to the spectacular growth Just Dial has achieved in the last three years. The popularity of Just Dial has made it a preferred medium for advertisers. The company today has emerged as one of the most efficient and measurable advertising platforms with over 100,000 SME advertisers.
Sandeep Singhal, Managing Director, Sequoia Capital India said, “Just Dial is today the leader in the Indian local search market through constant innovation and very high quality customer service. We are very happy to partner with Just Dial and are confident that the company will continue to grow and set new benchmarks in this space.”
“From our humble beginning fourteen years ago, we have come a long way and today Just Dial is a preferred medium for local search. The confidence reposed in us by Sequoia Capital India is a testimony to the fact that we are headed in the right direction. The success of our model in India gives us the optimism to look at expanding our footprint, not only in India but also across the globe,” said VSS Mani, Founder and Managing Director, Just Dial.