Press Release | New Delhi/Mumbai, 05/27/2014

Bertelsmann Invests in Indian Online Marketplace Pepperfry.com

Bertelsmann is expanding its digital business in India: The international media and services company has teamed up with the U.S. investment fund Norwest Venture Partners to invest a million-dollar amount in one of the country’s leading online marketplaces, Pepperfry.com. Founded in 2012, the Internet portal specializes in the sale of furniture and home accessories. More than 1,000 suppliers use the platform to market their products.

Shobhna Mohn, Executive Vice President Emerging Markets at Bertelsmann, says: “India is a strategic growth region for Bertelsmann. Since the opening of our Corporate Center 2012, we have worked locally to support our corporate divisions in developing their business in the country and to build new activities in the digital media and education sectors. We are making good progress here. By investing in Pepperfry, we strengthen our business in the
e-commerce sector, which is growing very rapidly in India.”

Pankaj Makkar, Managing Director of Bertelsmann India Investments, adds: “Pepperfry has very quickly developed into one of India’s leading online marketplaces, especially in the Furniture segment. In cooperation with Bertelsmann’s global network, we are excited to partner with its founders in further developing the company.”

Ambareesh Murty, Founder and CEO of Pepperfry, says: “We are well positioned to become a household name in the country and partnering with a global powerhouse like Bertelsmann along with the continued support of Norwest Venture Partners will ensure Pepperfry becomes India’s most preferred furniture and home products destination.”

Pepperfry is Bertelsmann’s third direct investment in India. In 2013, the company bought a stake in one of the country’s leading real-estate portals, Indiaproperty.com, as well as in Authorgen Technologies and its online education platform, Wiziq.com. Beyond this, Bertelsmann has been successfully doing business in India for many years through its divisions: RTL Group’s production unit Fremantle Media has shows like “Indian Idol”, “The X Factor” and “Got Talent” in India. The book publishing subsidiary Penguin Random House India is the largest English-language trade book publisher in the country, and Gruner + Jahr is a leading corporate publisher. Arvato India has been active in the Customer and Marketing Services market and in e-commerce since 2003. Bertelsmann currently employs around 2,000 people in India.

About Bertelsmann
Bertelsmann is an international media company whose core divisions encompass television (RTL Group), book publishing (Penguin Random House), magazine publishing (Gruner + Jahr), services (Arvato), and printing (Be Printers) in some 50 countries. In 2013, the company’s businesses, with their more than 111,000 employees, generated revenues of €16.4 billion. Bertelsmann stands for a combination of creativity and entrepreneurship that empowers the creation of first-rate media, communications, and service offerings to inspire people around the world and to provide innovative solutions for customers.