The recruitment marketplace connects employers, consultants, and job-seekers and aims to simplify the hiring process. Founded in 2014, the site focuses on blue- and grey-collar jobs. It now operates in four Indian cities: Bangalore, Pune, Mumbai, and Delhi. It claims to have connected more than 2.7 million job-seekers, 49,000 employers, and 5,000 consultants, so far.
According to The Economic Times, OLX Group believes the acquisition will further strengthen its jobs vertical. The company hopes to address the needs of India’s 60 million-strong urban workforce — a market it believes to be worth more than $1 billion.
OLX Markets CEO Tim Hilpert (LinkedIn profile) said the latest development resonates with OLX’s commitment to growing its verticals. “We aim to disrupt the ever-growing job market with this portal and further unify our position in the jobs classifieds market in India.” The company says its jobs segment has witnessed steady growth in the past couple of years.
CEO and AasaanJobs co-founder Dinesh Goel (LinkedIn profile) said the company’s genesis was largely inspired by India’s unregulated blue- and grey-collar sectors — a relatively untapped market. According to a recent study, more than 70 million jobs become available in this sector every year.
OLX India had an eventful 2018. The horizontal entered into a strategic partnership with FCG and ventured into transaction-based business. The company registered 94 percent revenue growth for FY2018. It plans to continue setting up locations for its c-to-b used cars business in 2019.