Consim Info CEO Murugavel Janakiraman has told MediaNama that they’re open to both strategic and financial investors for their jobs business ClickJobs, contrary to what was reported earlier. They are currently in talks with 3-4 potential investors, and are also open to strategic investments from media companies. He repeatedly emphasized that they’re looking to change ClickJobs’ business model.
Does Yahoo have an issue if Consim brings in a strategic investor for ClickJobs?
“Being an investor, their interest is in making ClickJobs number one. I don’t think they will have an issue. Talks are in very early stages right now, and finally the board will have to approve.”
Muruga said that ClickJobs is number 4 in the market in terms of revenue, with around 2 million resumes over a period of two years, and around 1000 recruiters. To put things into context, Monster has close to 19,000 recruiters, while Naukri had 32500 recruiters last year (Updated). At present, Matrimony and Property account for over 90 percent of Consim’s business, and Jobs accounts for most of the remaining 10 percent.
On why ClickJobs is looking to raise money, he said that there’s no point in being number 4 in the market: “We don’t want to just hang in there”. Growth will be a function of marketing and manpower, though he says there’s no shortage of money from a group perspective – Consim Info had raised (pdf) $11.5 Million earlier this year, but an allocation of just around $3 million of that money for ClickJobs wont be enough. “We want to be number one in the next couple of years.” How will they gain that position? A significant change in the business model, and marketing.
He also denied rumors of a management bandwidth crunch, saying that Consim has a strong management team in place, with a CEO, CTO, CMO, CFO, CPO, all in place.
Disclosure: I have a few shares of Info Edge