Articles

Monster Q2 revenue beats expectations

Posted by on Jul 31, 2015 in Articles, Recruitment | Comments Off

Monster Worldwide reported Q2 revenue of $180 million, beating slightly analysts’ expectations but losing 7.2 percent on a year-over-year basis.

The company reported 10 cents earning per share, beating estimates by 2 cents. It was enough to lift shares to a 52-week high of $6.97 (NYSE:MMW) and raising the company’s market cap to $621.53 million.

“Our quarterly results exceeded our expectations as we continue to execute our transformative strategy while improving profitability," said  Tim Yates, president and CEO.

Yates added that the company’s focus on North American sales “is beginning to prove effective” and that Asia Pacific “continues to perform well.  Europe is lagging North America and Asia Pacific as we continue to encounter market and competitive headwinds.”

He asserted that the company was on track to achieve 18% – 22% EBITDA by the end of Q4.

Here’s the release.

LinkedIn Q2 revenues rise, stock tumbles

Posted by on Jul 31, 2015 in Articles, Recruitment | Comments Off

LinkedIn’s Q2 revenues jumped 33 percent from the same quarter in 2014 to $712 million, beating analysts’ expectations. The company said it expects full-year revenues of $2.94 billion.

Premium subscriptions were up 22 percent to $128 million. Marketing solution revenues rose 32 percent to $140 million.

It also said that Lynda.com – the online training platform it bought for $1.5 billion – is expected to contribute about $90 million in 2015 revenue.

All this against a reported net loss of $68 million.

The result was a drubbing on Wall Street. Common stock  (NYSE:LNKD) tumbled 10 percent on investors’ fears that the company’s core products were performing weaker than expected.

Here’s the release.

More precise listings, focus on lead quality: French property market trends

Posted by on Jul 31, 2015 in Clients Only, Marketplace, Mobile, Real estate, Services, Strategy | Comments Off

Growing importance of niche portals, focus on quality rather than quantity of leads, expanding mobile audience and growing precision of information contained in listings will be the major themes of the French real estate market going forward, Antoine Krier, founder of Ubiflow, a key vendor of the country’s property portals, said at a recent presentation (full text available here in French).

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Dutch TMG in the red again

Posted by on Jul 31, 2015 in Financial results | Comments Off

Dutch Telegraaf Media Groep (TMG) posted a net loss of €2 million ($2.2 million U.S.) in the first half of 2015 and expects to finish the year with a net loss as the ongoing reorganization has not yet offset dropping advertising revenues and declining newspaper sales, according to a company statement.

TMG advertising revenues were down 15 percent, at €74 million. Newspaper and magazine circulation revenues were down by 3 percent, at €130 million.

As a result of reorganization, the company united Internet activities into one division, TMG Digital that would stand separately from its main publications such as De Telegraaf, Metro and Telesport. This affects web sites such as Geenstijl, dating portal Relatieplanet.nl and property site Jaap.nl, all of which are expected to benefit from “cooperation in relation to clients and themes,” according to TMG statement. Relatieplanet.nl was up for sale, but this is no longer the case.

The current and pending redundancies are expected to cost around €22 million. The reorganization would allow to save annually around €10-12 million. In H1 of 2015, TMG workforce fell by 10 percent, down to 2,122 employees.

Frontier Digital invests in Moroccan site

Posted by on Jul 31, 2015 in Automotive, Investors | Comments Off

Frontier Digital Ventures today announced an investment in Moteur.ma, a leading auto site in Morocco, giving the Kuala Lumpur-based investor a 32 percent stake in the company. The amount of the investment was not disclosed.

Moteur generates more than 500,000 visits and 4.5 million page-views each month. It has more than 60,000 cars in its database and more than 220,000 Facebook fans. It was launched by Moroccan entrepreneur Abderrazak Yousfi in 2009.

Frontier has also invested since its launch in automotive sites in Pakistan and Myanmar. Shaun Di Gregorio, CEO and founder of Frontier, is currently a non-executive director of ICarAsia. “‘MENA (Middle East and North Africa) is a target region for Frontier Digital Ventures, and follows on from our recent investments in market-leading online classifieds businesses in East Africa, another of our target regions. Morocco is a dynamic and rapidly growing economy with a bustling start-up scene and one of the best frontier markets in the region,” Di Gregorio said.

Morocco has the fifth largest GDP in Africa and one of the continent’s highest Internet penetration rates at 56 percent, Frontier said.

Auto site Droom.in wins funding round

Posted by on Jul 30, 2015 in Automotive, Uncategorized | Comments Off

Indian automotive site Droom.in is small — only 6,500 listings right now — but it has big ambitions, and now lots of money in the bank.

The site, which competes with auto vertical sites Carwale, Cartrade, and Cardekho and gen-class sites OLX.in and Quikr.com (among others), just closed a $16 million (U.S.) funding round. The company expects to add 200,000 listings in the next two years, and plans to expand into Southeast Asia by early next year.

The Series A funding was led by Lightbox. Droom’s initial funding round was led by Beenos of Japan.

Founder / CEO Sandeep Aggarwal, who pleaded guilty in the U.S. in November 2013 in an insider-trading case, told the Economic Times of the Times of India: “I was worried about investors’ reception given my legal case, but I underestimated the power of track record.”

Aggarwal said current auto sales methods “suffer from unsatisfactory and dubious experience … . Droom offers an unparalleled advantage for buyers on trust, pricing and selection.”

Lightbox partner Sid Talwar told YourStory.com Droom “is finally disrupting an industry where user behavior hasn’t changed since the advent of the Internet in the country. The added bonus is that we have worked with Sandeep in the past, know what he’s capable of building, and so [are] excited to be along for another ride.”

Rambler to build an “Uber” for real estate

Posted by on Jul 30, 2015 in Articles, Real estate, Rentals, Russia | Comments Off

Rambler, Russia’s media major, purchased online real estate agency AgentOn.ru, and announced publicly that it wants to create a large network of real estate agents, based on the principles of the U.S. taxi service app Uber.

AgentOn acts as a trading floor that links real estate agents with homeowners looking to rent or sell their properties. The undisclosed purchase of AgentOn was driven by Rambler’s interest in the company’s technology, which allows for accurate verification of housing developments and quick transactions to be completed online.

In a focused move to revitalize its website, and inject new energy into its classifieds services, Rambler is hiring a host of new specialists, and investing in new platforms. Already in February 2015 the company relaunched its real estate platform with AgentOn technology.

Although it remains unclear whether Rambler is looking to merge its own real estate offerings with AgentOn, the company ultimately hopes to develop a middleman platform that allows agents and homeowners to come together – akin to what Uber does for the taxi business.

 

Russia’s MyHomeDay gets $3 million injection

Posted by on Jul 30, 2015 in Articles, Real estate, Rentals, Russia | Comments Off

MyHomeDay.com, a Russian online service for home rentals and sales, received a financial boost from Kirill Podolsky, the majority shareholder of holiday accommodation bookings site AnyWayAnyDay, and other classified sites.

Podolsky, who has been financing MyHomeDay from its inception, has committed to inject another $3 million U.S.. (Go to his Facebook page.)

Kirill Podolsky, investor with a soft spot for classifieds (photo from his Facebook page with thanks)

Kirill Podolsky, investor with a soft spot for classifieds (photo from his Facebook page with thanks)

The Moscow-centered real estate listings site offers its own agents and professional photographers for homeowners wanting to rent or sell their properties. It earns a commission of around two percent of the final selling price, or 50 percent of one month’s rent (in the case of rented property).

The company employs 25 people, and is looking to expand into the regions surrounding Moscow.

MyHomeDay.ru is not a direct competitor of online classifieds verticals, but is rather a willing partner and agent. The company has a good relationship with Russia’s leading real estate vertical CIAN.ru, which has an especially dominant presence in Moscow.

MyHomeDay places its own listings on CIAN.ru, as well as on numerous other platforms, to attract clients.

Avito to expand its real estate operations in St. Petersburg

Posted by on Jul 30, 2015 in Articles, Real estate, Recruitment, Russia, Strategy | Comments Off

Avito.ru, Russia’s leading general classifieds platform, is looking to make inroads in the real estate sector of St. Petersburg, Russia’s second largest city. According to local media outlet Delovoy Peterburg, the company is hiring content moderators and call center operators in the city.

Avito tends to develop local offices of operations in regions it sees as vital, with both Moscow and Simferopol (in Crimea) having its own moderators and call centers. The company clearly sees potential in the urban sprawl of St. Petersburg and its real estate classifieds services, with up to 200 staff set to be hired (vacancies posted on site).

Real estate vertical classifieds platform CIAN.ru holds a leading position in Moscow, and Avito may be looking to branch out to St. Petersburg to build a leading position there.

Avito already has solid experience in real estate sales, having launched Russian real estate platform Domofond.ru together with Property24 of Naspers in May last year (read here).

Avito’s move in St. Petersburg is all the more interesting, because it’ll intensify its competition with Domofond, it’s part-owned real estate vertical.

(Editor: Naspers owns 18.6 percent of Avito, and if we correctly assume that Naspers owns 50 percent of Domofond, it’ll explain why Avito doesn’t mind stepping into the ring with Domofond.)

Avito’s revenue growth drops to 47% in Q2

Posted by on Jul 30, 2015 in Articles, Financial results, Russia | Comments Off

Avito.ru, Russia’s largest general classifieds platform, has seen a slowdown in revenue growth, according to the latest trading statement released by shareholder Vostok New Ventures, with non-audited figures for Q2 of FY2015.

The classifieds giant recorded revenue growth of 47 percent in Q2 this year from Q2 last year. Most classifieds players would be very proud with such a performance. But, in Q2 last year Avito recorded revenue growth of 85 percent, which makes 47 percent look like pedestrian.

Revenue growth might have slowed in Q2 2015 due to the recessionary conditions prevalent in the Russian economy, and due to a maturing platform. Avito is a household name in Russia.

Key performance indicators (in Q2 of FY2015) 

− Revenue generated: $28.3 million U.S..

− Page views: 24 billion (of which 44 percent came from mobile devices); in Q2 of FY2014 page views added up to 17 billion (30 percent from mobile).

− Monthly desktop traffic in June 2015, according to TNS Russia: 25.7 million compared to 25.8 million in June 2014.

Key performance indicators (in H1 of FY2015)

− Revenue generated: $50.1 million U.S..

− Cash and cash equivalents at the end of June 2015: in excess of $163 million U.S..

− Page views in period: 50 billion (of which 42 percent came from mobile devices); in H1 of FY2014 page views added up to 34 billion (28 percent from mobile devices).