Seek’s OCC-Mexico buys an app
30 Aug 2016
“By acquiring EmpleoListo, OCC will enable our clients to recruit for all levels — from executives to blue-collar positions,” said Ricardo Rodarte, CEO of OCCMundial.
“EmpleoListo’s beloved brand will be a tremendous compliment to OCC,” he said.
Seek initially invested in OCCMundial in 2010, and another $125 million in June 2015 to increase its ownership to 98.2 percent. OCCMundial is a general-purpose recruitment site; EmpleoListo is a mobile recruitment service for low-wage jobs.
“EmpleoListo has placed nearly 100,000 low-wage workers in Mexico in jobs,” said David Reich, founder and CEO of Assured Labor, in the announcement.
“By joining with OCC, our impact will only accelerate. We look forward to bringing these two game-changing services together,” he said.
Reich told the AIM Group on Tuesday that EmpleoListo won’t be incorporated into OCCMundial.
“EmpleoListo is the top brand for low-wage job seekers in the country, and that was a big piece of what OCC was interested in this acquisition. So, EmpleoListo will continue to operate as its own brand,” he said.
He said he will eventually leave his role with EmpleoListo.
“I will not be joining OCC or Seek,” Reich told us. “I’ll be continuing to advise and be of assistance to the acquirer for some undefined amount of time.”
He said he will remain as the CEO of AssuredLabor, which no longer has any operating companies in jobs classifieds.
“AssuredLabor is exploring the options it has,” Reich said. “All options are currently on the table.” Investors in Assured include Capital Indigo (Mexico), Great Oaks Venture Capital (New York) and serial investor-entrepreneur Fabrice Grinda, one of the founders of OLX.
At this writing, Seek (ASX: SEK) had not posted a news release about the acquisition nor filed an announcement with the Australian Securities Exchange. In January, AssuredLabor shut down its Brazilian blue-collar jobs site TrabalhoJa, allowing rival EmpregoLigado to expand in a relatively new
niche market in jobs classifieds in Latin America.
AssuredLabor said EmpleoListo served more than 1.3 million job-seekers and 45,000 employers in Mexico.
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We covered the two mobile-focused companies, EmpregoLigado and AssuredLabor, in the lead article of Classified Intelligence Report 16.14, July 23, 2015. For additional information, see that issue or contact us for a copy.