The company Info Edge India Ltd, promoter of jobs portal Naukri.com announced to buy premium recruitment brand iimjobs.com. The company Info Edge India was started in 1995 whereas Naukri.com an Indian Job portal founded in March 1997 by an Indian businessman Sanjeev Bikhchandani. With a database of 69 million registered job seekers to have at least 475,000 live jobs available Naukri.com is in the top list for job seekers.
During the Fiscal year 2013-14 it i9s estimated that 51,000 corporate customers paid Naukri.com for their services like database access, advertising and many more.
The company said, Info Edge (India) Limited has acquired 100% ownership of Highorbit Careers Pvt. Ltd for a cash consideration of Rs. 80.82 Cr. Highorbit Careers is the company which owns online premium job portals iimjobs.com and hirist.com.
Online portal iimjobs.com was founded by Tarun Matta nine-year ago, he is an IIT-IIM alumnus. The job portal iimjobs.com is for students who have graduated from premier institutes. The portal has about 23,000 jobs and 1.8 million job applications every month. The company has grown rapidly over time. Iimjobs has able to build a great brand for premium jobseekers. Iimjobs has managed to capture the niche and is growing rapidly.
“iimjobs has managed to carve a niche for itself and has built a great brand in the premium job seeker community. Its value proposition strongly complements Naukri’s proposition to its customers. Given our massive customer base in Naukri, together we are confident of taking this business to the next level,” said Hitesh Oberoi, Co-Promoter, and managing director of Info Edge.
Info Edge India Limited was established during the first dot com boom which came in India 20 year back. The recruitment platform including naukri.com, naukrigulf.com, firstnaukri.com, ambitionbox and many more.
The premium brand, Naukri.com has 69 million registered job seekers and have at least 475,000 jobs for the job seekers. It also offers recruitment assistance to 76,000 corporate clients in India.
“Joining forces with Info Edge gives us an opportunity to leverage their resources and accelerate our journey. This partnership gives us the resources to build better products, serve our customers better, and take our products to more customers,” said Tarun Matta, founder of iimjobs.
Amidst the time when there is a high dearth of jobs, this move may come as a boon for the job seeker youth population of India.