Consim Info seeks partner for its job portalAugust 17th, 2008 - 1:19 pm ICT by IANS
Chennai, Aug 17 (IANS) City-based online service provider Consim Info Pvt Ltd, better known as the Bharat Matrimony group that runs a group of business portals, is now looking for a strategic partner for its job portal www.clickjobs.com. Consim Info has high profile investors like Yahoo Inc., and two US-based venture capital funds Canaan Partners and Mayfield Fund, which have invested around $20.25 million in its operations.
Denying rumours of exiting the job portal business, Consim Info CEO Murugavel Janakiraman told IANS: “We are on a lookout for a strategic partner who is willing to invest money in a big way and take the business forward.”
He said the job portal category was worth around $100 million and www.clickjobs.com was one of the top five job sites in India.
The others are naukri.com, monster.com, timesjob.com and shine.com.
“It’s not sufficient to invest $3 million to be on top. If you want to be the leader, it may call for a different business model or deeper pockets or both,” Janakiraman added.
Though the decision for inviting a strategic partner has been taken, Consim Info has not spun out clickjobs.com into a separate entity.
“It will be done at an appropriate stage,” Janakiraman said.
According to industry observers requesting anonymity, Consim Info’s decision to hive off the job portal may be due to lack of management bandwidth as the company was running a range of portals such as matrimony, property and classifieds.
Speaking about the industry trend, naukri.com CEO Sanjeev Bikchandani told IANS: “In a booming market, the top three players can make money and in a slowing market, only the top two can make money. The others should have a differentiated strategy and deep pockets.”
Citing Internet marketing research company Comscore’s website traffic data for June 2008, he said: “Naukri leads with 59 percent traffic followed by Monster 22 percent, Times Job 14 percent, Shine four percent and Clickjobs one percent.”
Unlisted job portals are valued based on their revenue, profit and their growth rate.
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