South African media conglomerate Naspers announced today its classifieds business OLX Group has invested $89 million U.S. in Frontier Car Group (FCG), a startup that operates used auto marketplaces in developing countries, based on a value of around $270 million U.S. FCG “will use the funds, as well as access to OLX Group’s global footprint in high-growth markets, to fuel its expansion into new territories...
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Japanese recruitment group En-Japan Inc. (TSE: 4849) posted a 28.3 percent jump in revenue to 40.7 billion yen ($370 million U.S.) for the financial year ended Mar. 31, thank to growth achieved by domestic job boards and job search. In its results, the company said the company set a new profit record as it enjoyed a 40.5 percent rise in operating income to ¥9.6 billion ($87 million U.S.) during the Apr.-Mar....
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Gurgaon-centric home rental startup FastFox has acquired property review and rating platform Roofpik for an undisclosed amount. FastFox hopes to capitalize on Roofpik’s sizeable pool of community experts across hundreds of projects in the area. Founded in 2014, FastFox is a marketplace specializing in real estate services in Gurgaon. Its services include verified online property listings, arranging viewings and helping customers with paperwork. The company hopes...
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Japanese career management group DIP Corp. (TSE: 2379) posted a 15 percent jump in sales to 38.1 billion yen ($344 million U.S.) for the financial year ended Feb. 28. The group operates temporary and part-time jobs site Baitoru, the regular recruitment vertical BaitoruNext and a comprehensive jobs site Hatarako. According to the results released last month, DIP registered ¥33.2 billion ($299 million U.S.) in revenue during the previous...
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Quikr's latest filing with the Registrar of Companies shows a consolidated operating revenue of $9.5 million U.S. in FY2017. Although the company posted a 55 percent growth compared to the previous year's $6 million in revenues, it continues to burn more money than it makes.
British recruitment app Debut has raised £5.1 million ($6.7 million U.S.) for its soft-skills-focused graduate recruitment app. The investment came from entrepreneur James Caan, a former judge on Dragon's Den --- the U.K.'s answer to Shark Tank.
Recruitment classifieds business NetJobs Group had a worse first-quarter than its new CEO Georg Tsaros had expected. The company is listed on the Nasdaq OMX First North in Stockholm. In the company’s latest financial statement, Tsaros (LinkedIn profile) said he was disappointed with the results. But he can’t be blamed, considering he only took the reigns in March. Tsaros was appointed just one week after a weak...
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Emerging Markets Property Group (EMPG) has acquired Morocco’s largest property portal Mubawab. The group is based in the United Arab Emirates and owns and operates real estate websites, including UAE’s Bayut, Pakistan’s Zameen, and Bproperty in Bangladesh. Headquartered in Casablanca, Mubawab was founded by entrepreneurs Kevin Gormand (LinkedIn profile) and Toni Puig (LinkedIn profile) in 2011. It has since grown to become the largest real estate...
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MercadoLibre (Meli), a Latin American e-commerce and classifieds player operating in 19 countries, posted a net loss of $12.9 million US in the first quarter (Q1) of the year, the company said. The result is the company’s second consecutive net loss since Q4, as reported by the AIM Group. The negative result doesn’t seem to indicate a deterioration of the company’s metrics, as revenues continue to...
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In Romania, the recruitment vertical EJobs.ro generated revenue of €8.1 million ($9.5 million U.S.) in FY2017 --- which was a 38 percent higher than in FY2016, according to a Romania-Insider.com report.
