Merger & Acquisition

OLX Acquires Aasaanjobs to Strengthen its Online Jobs Vertical

0
OLX Acquires Aasaanjobs to Strengthen its Online Jobs Vertical

OLX Group has acquired Mumbai-based Aasaanjobs, a recruitment company for entry level jobs in India, for an undisclosed amount.

The acquisition is aimed at strengthening the OLX India’s position in the online job search segment and help OLX address the growing requirement of over 60 million urban workforce in India valued at over $1 billion.

Tim Hilpert, CEO of OLX Markets, said, “This acquisition resonates with OLX’s commitment to grow its verticals strategically and leverage technology for better user experience on the platform. We aim to disrupt the ever growing job market with this portal and further unify our position in the jobs classifieds market in India,” he added.

Founded in 2014 by Dinesh Goel and Gaurav Toshniwal, Aasaanjobs is a recruitment marketplace for blue and grey-collar jobs (drivers, maids, cooks, tutors, back-office staff, etc) in India which aims to create a digital identity for people who play a crucial role in the ever expanding service industry of India.

Dinesh Goel, CEO and co-founder of Aasaanjobs, said the company’s inception was inspired by the large unregulated blue/grey collar jobs segment in India where there is a massive untapped opportunity.

OLX said its jobs category has been growing organically in India over the last couple of years. It cited a recent study to state that in urban centres alone, over 70 million blue/grey collar job opportunities are available each year, while the workforce stands at 60 million workers annually.

This reflects the significant scope for growth opportunity in the sector, OLX added.

Aasaanjobs has raised a total of $6.5 million in funding over only two rounds from investors that includes
Chiratae Ventures (formerly IDG Ventures), Aspada and Inventus Capital Partners. It last raised funding in February 2016.

In June 2017, Aasaanjobs had also acquired mHire, a Noida based recruitment platform focused on skilled & semi-skilled blue & grey collar (ie entry-level) jobs.

Source – Business Line

Like this content? Sign up for our daily newsletter to get latest updates.

Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

With $525 Mn Budget, India to Setup 20 Centers for Research in AI, IoT and Quantum Computing

Previous article

Co-Living Startup Zolo Raises $30 Mn from Nexus Venture and IDFC Alternatives

Next article

Comments

Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.