Online classified marketplace OLX has acquired Aasaanjobs, a recruitment marketplace mainly for entry-level and blue collar job segments. With the acquisition of the Chiratae Venture (earlier IDG) funded startup, OLX will strengthen its online job search vertical in blue and grey collar space.
The quantum of the deal couldn’t be ascertained.
OLX will leverage Aasaanjob’s technology for better user experience on the platform which will further boost its position in the jobs classifieds market in India. The partially tapped market still requires over 60 million urban workforce and valued around $1 billion in the country.
Founded in November 2014 by Gaurav Toshniwal, Dinesh Goel and Kunal Jadhav, Aasaanjobs is an end-to-end recruitment platform connecting employers, consultants and job seekers.
The startup provides two-way matchmaking algorithm filters through its database to connect candidates whose profiles meet client requirements.
With operations in Mumbai, Delhi, Pune, and Bengaluru, Aasaanjobs offers jobs across functions and hierarchies for several sectors.
Aasaanjobs had raised $5 million in Series A round in November 2015 led by Aspada Advisors with participation from IDG and Inventus Capital Partners. Earlier, IDG had put in $1.5 million seed fund in the startup in January 2015.
To strengthen its presence in North India, Aasaanjobs also acquired Noida-based mHire in May 2017.
In India, OLX’s job vertical finds major competition from Quikr, Monster.com, and Naukri.com.
The Naspers-owned company had witnessed stellar growth in India in FY18 as it saw total revenues rise almost 94 per cent to Rs 179 crore as compared to Rs 92 crore in the previous fiscal.
The development was reported by ET via PTI.