Classifieds portal OLX has acquired Mumbai-based online recruitment portal Aasaanjobs in a bid to strengthen their position into the jobs segment. The financial terms of the deal have not been disclosed by any of the party.
Aasaanjobs was started by IIT Bombay alumni Dinesh Goel, Ishank Gupta, Gaurav Toshniwal, Aditya Gupta and Kunal Jadhav in 2013. While others left the company in the starting years, Dinesh Goel and Kunal Jadhav continued working on the venture.
The firm had raised investment worth $6.5 million ever since their inception from the likes of IDG Ventures, Aspada, Inventus Capital Partners and Chiratae Ventures. The portal of the company helps both students as well as employers by connecting them directly. It also supports consultants. Speaking on how the firm was founded Goel said, “The company’s inception was inspired by the large unregulated blue/grey collar jobs segment in India where we saw a massive untapped opportunity.”
Commenting on the OLX deal Goel said that having understood the need-gap in this segment over the last three years, we pioneered the blue/grey jobs market by enabling job seekers and employers to find each other on a common platform. As we look to scale these numbers and expand to other cities, we found OLX to be a natural fit for our vision.”
OLX was started in 2006 by Alec Oxenford, Fabrice Grinda, and Jordi Castello. The company was later acquired by South African internet giant Naspers who was one of the investors in the company along with The Perkins Fund, Founders Fund, Bessemer Venture Partners, General Catalyst, DN Capital and others.
In the job segment, OLX competes with QuikrJobs. This Aasaanjobs purchase will surely consolidate the position of OLX to a great extent against any rivals. It will be interesting to see how things shape up for Aasaanjobs as well as OLX post the deal.
Image Courtesy : businesstoday,aasaanjobs