Global online market for selling and purchase of products, OLX has acquired Mumbai-based online recruitment marketplace “Assaanjobs” for an undisclosed amount.
The platform is acquired to make use of the assets funded by OLX group to boost up the job vertical in the blue and grey collar jobs market and to power up the position in the digitally classified jobs market.
Founded in 2013 by Dinesh Goel, Aditya Gupta, Kunal Jadhav, Siddhartha Das, and Gaurav Toshniwal. Aasaanjobs is an end-to-end recruitment marketplace connecting job seekers, consultants, and employers for jobs across in an organization across hierarchies. The idea raised as a solution to the recurring problems in the market. The online recruitment marketplace is access to the blue collar job where it was primarily restricted and where the hiring process is disorganized.
Co-founder Goel reported that
“Aasaanjobs was inspired by the large unregulated blue/grey collar jobs segment in India where there is a massive untapped opportunity. “Having understood the need gap in this segment over the last three years as we look to scale these numbers and expand to other cities, we found OLX to be a natural fit for our vision,” he added.
OLX said that the acquisition resonates with the commitment to improve the verticals strategically and use of technology for better user experience on the job marketplace.
A Market for Blue and Grey Collar jobs
A recent study by OLX, in urban centers alone, states that there are more than 70 Mn blue and grey collar job opportunities available each year while the workforce stands at 60 Mn annually, signaling significant scope for growth in the sector. Anonymous media reported about India’s job market to see nearly 20% growth in hiring in 2019 and are on the heels of improving the market outlook and confidence. In 2016, Google and KPMG gave a joint report about the prediction on online jobs market which is supposed to be double by 2020.
Now, with this acquisition, OLX is locking horns with the top jobs classified market QuikrJobs. Quikr, in June 2016 acquired online hiring platform Hiree to solidify QuikrJobs.
Amidst the scenario, OLX is aggressively focusing on the used car segment. The leading online market OLX also collaborated with Germany based Frontier Car Group (FCG). OLX reached over 4,000 cities in India with nearly 40 million monthly active users which focuses on online platform for selling and buying of pre-owned cars. IN FY18, a 93.6% growth in income INR 179.26 Cr is estimated.