RecruitiFi, which fills positions through interactions with its database of recruiters, has just gamified the commission structure by which it rewards those recruiters. Now, a recruiter gets paid not only for the candidate that gets hired but the others who were quality fits as well.
Here’s the announcement:
Crowdsourced recruiting application, RecruitiFi, makes history by gamifying the recruiting industry. The platform becomes the first to offer cash rewards to recruiters who submit quality candidates in addition to those who make placements.
New York, NY (PRWEB) April 24, 2014
RecruitiFi, the innovative crowdsourcing talent acquisition platform, announced today the launch of its groundbreaking gamified commission structure. The new model incentivizes recruiters by rewarding them not only for successful placements, but also for quality candidate submissions. The sleek application, which allows employers to quickly and easily advertise open positions to 250 expert agency recruiters at a time, is the first in the industry to pay cash awards to runners up. The new gamification elements provide recruiters with additional revenue opportunities, while simultaneously leading to faster and better results for employers.
Co-Founder and CEO, Brin McCagg, commented, “Our gamification structure eliminates the antiquated winner-takes-all model and keeps a targeted group of recruiters and candidates highly engaged, yielding better results for employers. Gamification and crowdsourcing have proven to be powerful, results-driven frameworks across many industries, and our platform is the landmark introduction of those concepts to the recruiting industry.”
RecruitiFi’s unique workflow and payment configuration bring much-needed innovation to a tired space. The platform is already successfully positioned as a single point of contact allowing employers to leverage the talent, expertise, and reach of top recruiters in their industries. The addition of their new incentive-based compensation is only increasing the participation by top recruiters and giving better candidate results even faster.
Robb Granado, General Manager of the Brooklyn-based student lending platform CommonBond, noted, “We only have room for all-stars on our team, and we only have so many hours in the day to find them. The RecruitiFi user experience simplifies the hiring process and allows us to bring in high-quality talent very efficiently.”
Similar to a traditional executive search, the recruiter who ultimately makes a successful placement receives the majority of the total commission. However, RecruitiFi sets aside varying prizes of up to $250 for recruiters submitting qualified candidates who advance in the hiring process as well as for candidates hired through the platform. Further gamifying the process, recruiters also accumulate points that can be redeemed for value-added features while serving to increase the recruiter’s ranking and visibility on the site.
RecruitiFi’s innovative model continues to catch the eye of companies ranging from the Fortune 100 to small businesses across America. “All of our clients say that we’re a game-changer,” McCagg noted, “and now we’ve literally changed the rules of the recruiting game.”
CoStar Group, owner of commercial-property site LoopNet and new owner of Apartments.com, just announced a 15 percent year-over-year increase in revenue.
In the Q1 2014 earnings release, CoStar also reported net income for the quarter of $9,740,000, a considerable improvement from the $2,410,000 net loss the real estate analytics and marketplace group had realized in Q1 2103.
“Today we are very focused on executing on an exciting new business plan for Apartments.com,” CoStar founder CEO Andrew Florance said, in the announcement. ” We announced our agreement to acquire Apartments.com less than two months ago and we closed the acquisition just 22 days ago, yet in that short time we believe we have developed a transformative customer centric business plan that will result in significant and sustainable revenue and earnings growth..”
Here’s the earnings release.]]>
Rocket Internet’s real estate site Lamudi reported today it has listed more than 250,000 properties in the first six months after its launch in October 2013. It is now present in 25 countries and employees 300 people in Africa, Asia and South America.
Reporting a 100 percent listings increase in March to 200,000 from 100,000 in February, Aneesa Arshad, CEO of Lamudi East and Southern Africa, said: “In six months we have grown to a strong global network. In Kenya we started with a small core team and have become the No. 1 platform for real estate in the country. We will continue this growth story and develop even faster in the next six months.”
The news came just days after Lamudi raised capital for growth in Asia. It raised $7 million U.S. from Germany’s Tengelmann Ventures to help it expand in five Asian markets (Myanmar, Indonesia, Philippines, Pakistan and Bangladesh). Lamudi will also benefit from Ooredo’s investment into Rocket Internet in Asia as an equal partner, and will easily grow to take on iProperty, PropertyGuru and Property24 among others.
Read our report on the joint venture with Ooredoo (here).]]>
First there was Millicom in South America, then MTN Group in Africa and now Ooredoo in Asia. All three are leading telecommunications companies in their regions; all three set up joint ventures with Berlin-based start-up expert Rocket Internet.
All in all there are four joint ventures aiming to “jointly develop ecommerce and other digital services” in their respective geographic regions. The 50:50 joint venture between Ooredoo and Rocket Internet was announced yesterday. They will be equal partners in Asia Internet Holding, “a joint venture that will create and develop online businesses in the region”, Ooredoo said in its media statement (here).
The joint venture of Millicom and Rocket Internet in South America is called Latin America Internet Holding (LAIH). In Africa MTN, Millicom and Rocket Internet each holds 33.3 percent in Africa Internet Holding (AIH), and in the Middle East MTN and Rocket Internet each holds 50 percent in Middle East Internet Holding (MEIH).
Read our overview of Rocket Internet’s classifieds portfolio worldwide (here).
Sites in the Asia Internet Holding portfolio got capital injections from third parties in the past two weeks. Auto portal Carmudi got €7 million ($10 million U.S.) from Tengelmann Ventures and other investors (our report), and real estate site Lamudi got €5 million from Tengelmann Ventures and others. The capital injected in Lamudi will be used to “become the market leader in Asia,” Germany’s VC-Magazin reported (here in German).
Yesterday Kenyan-based Aneesa Arshad, CEO of Lamudi East and Southern Africa, said 250,000 properties were listed on the 25 country sites of Lamudi in the first six months of its existence (our report here). Reportedly, about half of all ads were listed on sites in Asia.
Asia Internet Holding will operate in 15 country markets in Asia, including Pakistan, Myanmar, Thailand, Malaysia, Singapore, Indonesia, Vietnam, the Philippines and Australia. Its ventures will range from online retail and marketplaces to payment services. Several successful ventures were launched over the last two years including Daraz.pk, Lamudi.com, Carmudi.com, Kaymu.com, Pricepanda.com and EasyTaxi.com.
Oliver Samwer, co-founder of Rocket Internet, said: “We look forward to working with a partner as innovative and customer-centric as Ooredoo in Asia. Our partnership will accelerate the development of Asia Internet Holding in the region and help our businesses succeed.
“…bringing ecommerce models to Asia that have worked well elsewhere in the world, with Ooredoo as a partner, will enable both (Ooredoo and Rocket Internet) to deliver better services to customers.”
The joint venture is subject to the approval of the regulatory authorities in the countries where the services will be provided. Ooredoo said it expected the deal to be concluded in Q2 of 2014.
Swiss media group Tamedia AG launched a surprising attempt to get control of Lausanne-based media sales and marketing company Publigroupe SA. On Holy Thursday Tamedia released a public tender offer of 150 CHF per share for Publigroupe SA to “strengthen further its position in the directory business”. The offer signalled yet again Tamedia’s determination to make the transformation from a print to a digital business.
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ERA just studied consumers’ understanding of the world of real estate. While it wasn’t surprising that homeowners did better on the quiz than those who had never bought a home, the survey showed that about one third of the non-owners didn’t understand mortgages or appraisals. Approximately 1,000 participated.
Here’s the announcement:
The majority of respondents were familiar with foreclosures, short sales and homeowner’s insurance, but the survey results indicate that real estate agents have an opportunity to serve as a resource to help consumers better understand the mortgage process as it relates to appraisals, credit scores and federal loan programs.
“The business of buying and selling a home has become increasingly complex and multi-faceted as we contend with the checks and balances put in place following the Great Recession,” said Charlie Young, president and CEO of ERA Real Estate. “Our findings suggest that real estate professionals can provide an invaluable service to their clients by not only educating them on many of the processes involved in buying or selling a home but also by connecting them with experts in related industry services.”
While the majority of respondents (95%) knew what a foreclosure was, only 25% knew that the Case-Shiller Index tracked home prices. This knowledge gap in terms of real estate market indicators provides real estate agents with an opportunity to educate their clients about local market conditions to inform both the buying and selling of homes.
Surprisingly, homeowners who bought a home within the past year scored five points lower than those who had bought a home more than two years ago. Young believes this is likely a reflection of last year’s more fast-paced market characterized by rapid price increases, bidding wars and a summer spike in mortgage rates which created a greater sense of urgency in completing a deal, leaving less time for understanding the process.
Other findings from the ERA Real Estate IQ quiz include:
Take the ERA Real Estate IQ Quiz: Click here to take the quiz to find out your Real Estate IQ.
Methodology: ERA Real Estate, in conjunction with Test Track, Inc., a consumer research company, conducted an online survey of consumers aged 21-75 to ascertain respondents’ knowledge in various aspects of the real estate industry and transaction. The survey was fielded between from Jan. 13-20, 2014 and the results are based on responses from 1,000 respondents across the country.
ERA Real Estate is an innovative franchising leader in the residential real estate industry with 40 years of experience in developing consumer-oriented products and services. The ERA network includes approximately 31,000 brokers and sales associates and approximately 2,300 offices throughout the United States and 33 countries and territories. Each office is independently owned and operated. ERA Real Estate is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.
Unlike Facebook, Twitter is immensely focused on business, and predominantly used by executives and entrepreneurs. Making use of Twitter to job search just makes sense, as does using it to search for the passive candidate, or assess a candidate’s social, networking and industry savvy.
Additionally, Twitter has taken another step as marketing tool for agents, and properties for sale or rent.
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Tech companies based in tech hubs around the world (eg. Berlin, London, Silicon Valley, Cape Town) have a new place to source talent. But, it’s very new (launched in March; to date only eleven jobs listed) and only cost-efficient if you recruit talent regularly throughout the year.
A recruiter pays an annual membership fee of 475 pound sterling ($798 U.S.) for access to the site, and may then list as many jobs he wants in that year, and keep them on the site until his membership expires.
London-based SiliconHubJobs.com doesn’t have a geographic focus – it’s a global site, banking on the assumption that an IT worker is an IT worker; one size fits all (whether he’s from Japan, or Germany, doesn’t make a difference to the employer in Belgium). And, on the assumption that IT workers are global citizens, who work wherever an employer needs code to be written.
It’ll be interesting to see to what degree these assumptions were realistic. If unrealistic, SiliconHubJobs will signal it to us by closing its doors.
Also, the site is aimed at start-ups looking to recruit IT talent, but quite expensive for many start-ups, which typically recruit once or twice per year only.
In a media statement (here) founder Anouar Haidary, a French entrepreneur, said the job site “was designed for those talents who specifically want to work at tech startups, or tech companies in any of the tech hubs (of the world)”.
To date the site has jobs for London, San Diego, Helsinki, Nairobi, Edinburgh, New York and Santa Monica. Have all these cities got tech hubs? Or, has the founder broken his own rule within weeks of starting up?
Until now, the start-up is very lean, with no apps, mobile site, listing management software, job alerts, or any such extras.
Custom-made marketplace Etsy has just announced its acquisition of Grand St., a hardware marketplace where consumers not only buy technology but share their thoughts on the new gadgets and pre-order them before they’re even on the market.
While the Etsy blog tries to explain this as a synergy with its current platform, it seems not so much synergistic as a simple reach for a new audience.
At least for the “near term,” the Grand St. staff will stay on, according to Etsy.
In the first quarter of 2014, Angie’s List revenue increased 39 percent year-over-year, while its memberships jumped 35 percent, and another 26 percent of service providers joined the site.
Despite these gains, and a 41 percent increase in the value of the service transactions, Angie’s List reported a net loss of $3,783,000.
Angie’s List works on a business model that requires consumers to pay for membership, and while member growth has skyrocketed 97 percent post 2010, this year’s 35 percent jump came at a higher price – a 14 percent YOY increase in marketing cost for membership acquisition. In fact, the quarter’s net loss was nearly exactly the increase of Angie’s List marketing expenses.
Service provider revenue remains the largest and fastest growing component of total revenue at $54.4 million for the quarter, representing a 45 percent growth rate year-over-year. Advertising revenue was $48.1 million in the first quarter of 2014, an increase of 46 percent compared to the prior year period
Last year’s net loss of nearly $8 million was more than double the loss reported this quarter, so there is perhaps light at the end of the Angie’s List financial tunnel. Perhaps its biggest obstacle is the number of new highly-differentiating service marketplaces that provide free access to consumers. (For more on the evolution of service marketplaces, see CIR 15.05, March 13.)
Here’s the earnings release.