New Delhi: Info Edge India Ltd, promoter of jobs portal Naukri, on Tuesday announced acquiring premium recruitment platform iimjobs.com.
"Info Edge (India) Limited (NSE: NAUKRI) has entered into an agreement to acquire 100% ownership of Highorbit Careers Pvt. Ltd (hereinafter “iimjobs") for a cash consideration of Rs. 80.82 Cr," the listed company said.
Highorbit Careers is the owner of online job portals iimjobs.com and hirist.com.
Nine-year old iimjobs.com was founded by Tarun Matta, an IIT-IIM alum, to cater to job needs of those who have graduated from premier institutes. With 23,000 job postings and 1.8 million job applications every month, iimjobs.com and hirist.com have grown rapidly.
“iimjobs has managed to carve a niche for itself and has built a great brand in the premium jobseeker 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, a company established during first dot com boom in India 20 years back, is the owner of recruitment platforms including naukri.com, naukrigulf.com, firstnaukri.com, ambitionbox etc. Its flagship brand, Naukri has 69 million registered job seekers and claims it has at least 475,000 live jobs available at its platform. Naukri also offers recruitment assistance to over 76,000 corporate clients.
"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.