A surprising development, albeit sad: BSE listed CyberMedia has shut down its jobs portal CyberMedia Careers, reports Alootechie; the complete candidate database has been acquired by Timesjobs, a portal from BCCL owned Times Business Solutions.
Grounded By The IT Crunch Or Just Didn’t Take Off?
Has there been a declining demand from the IT sector for jobs? For the past few quarters, we’ve been hearing analysts consistently question Info Edge (Naukri) about the impact of the slowdown in the IT sector (particularly due to exchange rate issues) on the job classifieds business. At the same time, while Naukri’s dependency on IT for revenues has been slowly declining – 31% (Q2-08), 30% (Q3-08), 27% (Q1-09) – though overall IT revenues have been growing. So, frankly, going by the only publicly disclosed numbers in this space, there doesn’t appear to have been much of an impact of a slowdown in the IT space.
Perhaps there has been a greater impact on other job portals, or more of an impact on a vertical specific portal like CyberMedia Dice. The other possibility is that CyberMedia Dice simply did not take off – they reported significant losses in 2006-07, and had a registered database of only around 680,000 job-seekers after over 3 years in operation, compared to Info Edge, which has disclosed over 12 million registered users for Naukri.com.
We’ve contacted CyberMedia for more details.
The CyberMedia Dice Timeline
September 2004: CyberMedia, a specialty media company with a significant focus on technology, ties up with Dice, the largest portal in the world for technology professionals. CyberMedia plans to launch a jobs portal.
June 2005: CyberMedia lists on the BSE
July 2005: PE firms General Atlantic Partners and Quadrangle Group acquire Dice
August 2005: CyberMedia Dice is Launched
October 2006 CyberMedia Dice reports operating losses Rs. 1.40 crores for the first 2 quarters of 2006-07
May 2007: Cybermedia restructuring: E Abraham Matthew to head online properties and Cybermedia Dice
Feb 2008: Dice sells stake in CyberMedia Dice to Pradeep Gupta, founder of CyberMedia. Portal renamed Cybermedia Careers. Reported numbers – over 680,000 registered IT job-seekers.
July 2008: TimesJobs acquires the Resume Database of CyberMedia Careers.
Readers will recall that HP owned Snapfish also recently acquired the database of Merasnap.com