Info Edge (India) Limited has agreed to acquire 100% ownership of Highorbit Careers Pvt. Ltd (herein after “iimjobs”) for a cash consideration of Rs. 80.82 Cr. Highorbit Careers Pvt. Ltd. is the owner of online job portals iimjobs.com and hirist.com.
iimjobs was founded in 2010 by Tarun Matta, an IIT-IIM alum, to address the job needs of jobseekers graduating from premier institutes. Over the years, iimjobs has built a strong brand among such jobseekers and recruiters looking to hire them. With 23,000 job postings and 1.8 million job applications every month, iimjobs.com and hirist.com are leading recruitment platforms for premium jobseekers in India.
The combination of iimjobs’ brand proposition and Info Edge’s distribution network, will enable Info Edge to better serve its recruiter clients and job seekers by tailoring its services to meet their requirements.
Commenting on the acquisition Hitesh Oberoi, Co-Promoter, MD and CEO, Info Edge said, “iimjobs has managed to carve a niche for itself and has built a great brand in the premium job seeker community. Its value proposition strongly complements Naukri’s proposition to its customers. Given our massive customer base in Naukri, together with Tarun, we are confident of taking this business to the next level over the next few years”.