OLX Group plans to expand and strengthen its jobs category with this acquisition.
Global online classifieds business leader OLX Group has announced the acquisition of Mumbai-based Aasaanjobs, a recruitment marketplace for blue and grey-collar jobs in India.
With this acquisition, OLX plans to strengthen its job vertical to address the growing requirement of over 60 million urban workforce in India, valued at over $1 billion, said a release.
Founded in 2014, Aasaanjobs uses advanced technology through its platform to find the best suitable candidates for the job posted on the portal. This is enabled through its end-to-end recruitment via a two-way matchmaking algorithm that filters and connects candidates whose profiles and job expectations best match employers requirements.
“This acquisition resonates with our commitment to grow verticals strategically and leverage technology for better user experience on the platform. Aasaanjobs is a unique platform that uses technology and its wide reach to serve as an integrated go-to platform for recruiters. We aim to disrupt the ever-growing job market with this portal and further unify our position in the jobs classifieds market in India,” said Tim Hilpert, CEO, OLX Markets.
The statement also said that OLX jobs have been growing organically in India over the last couple of years. The group operates a network of online trading platforms in over 40 countries.
“The company’s inception was inspired by the large unregulated blue/grey collar jobs segment in India where we saw a massive untapped opportunity. Having understood the need-gap in this segment over the last three years, we pioneered the blue/grey jobs market by enabling job seekers and employers to find each other on a common platform. As we look to scale these numbers and expand to other cities, we found OLX to be a natural fit for our vision. We are excited to join the team, as we look to bring more efficient solutions to this industry in partnership with India’s leading classifieds player,” said Dinesh Goel, CEO and Co-founder, Aasaanjobs.