LiveHire targets 75 percent of Oz market
06 Mar 2018
Australian recruitment site LiveHire (ASX: LVH) has told shareholders it plans to expand into more industries in 2018, in order to target 75 percent of the Australian employment market.
The company said it already targets 50 percent of the job market.
LiveHire, which raised $20 million AUD ($15 million U.S.) in an equity placement last year, posted revenue of $844,901 AUD ($659,341 U.S.) for the six months through December, an increase of 173 percent on the prior comparative period (PCP).
However, earnings before interest, depreciation, and amortization (EBITDA) were still negative at -$4.9 million AUD ($3.8 million U.S.), an increase of 104 percent on the PCP. Losses also increased 104 percent to $5 million AUD ($3.9 million U.S.). The company’s cash balance stands at $33.6 million AUD ($22.6 million U.S.).
The site — which allows employers to build what it calls “Talent Communities” (or “talent pools”) by connecting with job-seekers — has grown its “Talent Community Connections” 130 percent to 538,000, compared with 234,000 in the same period last year.
It hopes that a planned product launch for large and enterprise customers, along with an expansion into the public sector and construction and manufacturing industries, will increase the average yield of each Talent Community Connection to 50 cents a month.
To do that, the company appointed Denise Carson (LinkedIn profile), a former sales director of U.S.-based data analytics firm Splunk, to lead and grow the company’s direct enterprise division. Former McKinsey and Company Australia managing partner Michael Rennie has also joined LiveHire’s board of directors.