Info Edge, the parent company of recruitment portal Naukri.comm, has bought AmbitionBox for an undisclosed amount. With this, Info Edge will buy AmbitionBox’s domain, content and business. Founders Mayur Mundada and Subramanya TH will join the company to develop the site.
AmbitionBox is a discovery platform for job-seekers and provides information on the company, interview experiences, and workplace reviews. Users can log in to the platform and share their advice and company reviews anonymously or otherwise. It also offers practice tests and a salary calculator. So far, it has information on recruitment interviews from companies such as McKinsey, Infosys, Boston Consulting Group, Cognizant, Tata Consultancy Services, and L&T. The company began its operations in 2015 and has around 11-50 employees.
As a company, AmbitionBox makes a good fit to its Naukri business, its most profitable segment. For the quarter ended December 2016, the recruitment solutions segment reported Rs 140.43 crore in revenues up 6.8% year on year. Recruitment solutions posted a Rs 71.14 crore in profit.
This is Info Edge’s fifth strategic investment over the last year
- Happily Unmarried: Info Edge invested an additional Rs 5 crore in online gifting website Happily Unmarried in July 2016, through convertible preference shares. Accordingly, Info Edge’s total investment in Happily Unmarried stands at Rs 21.3 crore and owns 48% stake in the company.
- Dirolabs: Mobile phonebook management company Dirolabs raised Rs 3 crore (via convertible shares) from Info Edge, selling 11.5% stake to Info Edge, in June 2016. This raise thus values Dirolabs at around Rs 26 crores, approximately $3.8 million.
- Unnati Helpers: Info Edge picked up 28.5% stake for Rs 4 crore in a job portal for unskilled workers called unnatihelpers.com, valuing Unnati Online Pvt Ltd at Rs 14 crore. This investment was made in July 2016.
- Canvera: Info Edge had written off Rs 42.67 crore in Canvera in the last financial year, and then bought a majority stake in the money in August last year.