Consim Info, the company that owns online classifieds portals like BharatMatrimony.com, and Indiaproperty.com, has sold a majority stake in its job portal, ClickJobs.com to Sanjeet Kumar Singh, a realtor from Delhi, reports Techcircle. The size of the transaction was not disclosed, and the report links to VC Circle for other details of the transaction (behind a Paywall).
Consim Info CEO, Murugavel Janakiraman’s phone was unavailable for comment as his phone was switched off at the time of writing this post. Alok Mittal, who’s on the board of Consim and is also an investor via Canaan Partners, declined to comment. We’ve written to Janakiraman and will update this post as we hear from him.
The Techcircle report quotes Janakiraman, saying that Consim Info sold Clickjobs as so that the group could focus on its core businesses of Property and Matrimony classifieds. The deal was closed in July, as per the new owner of Clickjobs.
We’ve been hearing of Consim’s troubles with ClickJobs for a long time. In 2008, Consim was reportedly looking to raise money for ClickJobs, and was on the lookout for a strategic partner with deep pockets. It was also exploring a different business model, although Janakiraman had denied rumours that the site was shutting down. In another interview, Janakiraman had revealed that the company was in talks with 3-4 potential investors, and was also open to strategic investments from media companies. A few months later, it even adopted a new business model of incentivizing job seekers for uploading their CV, and charging recruiters only for accessing a user’s contact details.
But Janakiraman had always maintained that he did not see the point of being present in the market and be the number 4 player. There’s tough competition from Info Edge’s Naukri, Monster.com, Times Group’s Timesjobs and even LinkedIn, besides other players like Firefly eVentures’ (HT Media) Shine.com. Also, Consim’s business was majorly coming from Matrimony and Property segments.
Yahoo and Canaan Partners had invested $8.6 million in Consim Info in 2006, and Consim Info also raised $11.75 million in another round led by Mayfield Fund, which also had participation from Canaan Partners and Yahoo. However, Yahoo exited Consim, last year, and Bessemer came on board as a new investor.