Classifieds platform OLX has acquired jobs platform Aasaanjobs for an undisclosed amount to pad its recruitment vertical. Aasaanjobs was founded in 2014 and is a portal for blue and grey-collared jobs, available in several Tier I (Mumbai, Delhi, Pune) and Tier II cities (Agra, Bhopal, Lucknow).
Aasaanjobs has been backed by Aspada Ventures, Inventus Capital and IDG Ventures India. In June 2017, the platform acquired Noida-based mHire, a blue and grey collar jobs recruitment platform to strengthen its presence in North India. About two years ago, Aasaanjobs expanded out of blue-collar jobs and began to list jobs in the pharmaceutical sector which have a higher cost to company than the average blue-collar job. It had earlier begun listing jobs in IT as well.
OLX claims that ad hoc and delivery jobs make up the largest chunk of the blue and grey collar jobs in India. It also claims that 70 million jobs are available annually in “urban centres” while the workforce stands at 60 million workers annually.
OLX claims to have 330 million users worldwide, and operates under Avito, dubizzle and letgo among others, which are classifieds platforms in Russia, UAE, and the US respectively. All three are backed by South Africa based internet company Naspers, which is also an investor in the OLX Group.
OLX claims to have
- 85% market share of the online C2C business in the country
- 6 billion pageviews every month
- 15 million items exchanged every month
- 5000 employees across 30 offices worldwide
OLX India saw a 94% growth in total revenue in FY18, compared to Rs 92 crore in the previous year. The growth was reportedly largely driven by automobile and smartphone sales. A year ago, OLX India appointed Momtaz Moussa as its general manager.
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- HT Media’s Shine.com was launched in 2008, has reportedly been a loss-making entity, with difficulties in scalability and profitability. A year ago, an investor asked Shine.com management if there was any plan to shut down the portal.
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