51job, Inc. saw total revenues increase by 33.5 percent year-over-year to 811.3 million RMB ($129.3 million U.S.). Of this, revenue from online recruitment services increased 30.5 percent year-over-year to 548.3 million RMB ($87.4 million U.S.), and "other human resource related revenues" increased 40.2 percent to 263 million RMB (US$41.9 million).
DCM Ventures has led a $75 million U.S. series C round in Mai Mai (脉脉), the Chinese social network for business people, which currently has over 30 million users. Former investors IDG Capital and Morningside Venture Capital (晨兴创投) also participated in the round.
Lagou (拉勾), a leading recruitment platform for the Chinese tech sector, is pushing back against fake job postings with an all-new artificial intelligence-based (AI) and facial recognition-based identity authentication system. The system, which went online this week, was jointly developed by Lagou and Baidu AI (百度AI).
Tech recruitment site Lagou (拉勾) is enamoured with the prospects for its SaaS offering Lagou Cloud HR (拉勾云人事).
In fact, helping the cloud services HR management product, which already has over 20,000 corporate clients, to grow appears to have been the principal motivation behind the company's recent equity sell-off, to 51job Inc. (前程无忧, NASDAQ: JOBS).