LeBonCoin increases its stake in job app Kudoz
27 Sep 2017
LeBonCoin first bought a small stake in Kudoz in 2015 for €1.2 million ($1.4 million U.S.). (We reported about it here.) Since then, LeBonCoin and Kudoz have developed and exploited synergies, which must have been valuable enough for LeBonCoin to buy the controlling stake. How big the stake and how much it paid for the extra shares, remain undisclosed.
LeBonCoin intends to integrate Kudoz into its offer to recruiters, LeBonCoin CEO Antoine Jouteau told ExclusiveRH. It also plans to promote Kudoz via its own sales team.
Kudoz was created in 2014 by Pierre Hervé and Olivier Xu, entrepreneurs who had earlier created two start-ups for Rocket Internet. Kudoz offers job seekers suggestions which fit their skills. For that purpose, Kudoz connects to job seekers’ LinkedIn profiles.
Users may apply for recommended jobs without downloading CVs or cover letters – or reject recommendations with a swiping motion similar to that of dating app Tinder.
Kudoz also claims to have developed an algorithm for analyzing the behavior of users to refine the recommendations, making them unique to each user’s profile and expectations. Kudoz is available to the general public, although it is targeted at executives.
Currently, Kudoz has 300,000 registered profiles and 60,000 active users. It has 3,000 corporate clients and one million listings.
LeBonCoin has a strong jobs segment of its own, which generates around 2.3 million unique monthly visitors. This segment is primarily geared towards blue-collar jobs.
With Kudoz, it aims to take a stab at the managerial segment as well, currently dominated by Cadremploi.fr, owned by Figaro Classifieds. Cadremploi.fr had 2.1 million visitors in August, according to SimilarWeb.