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Naukri.com eyes beyond jobs, acquires Jeevansathi.com

05-October-2004
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Naukri.com eyes beyond jobs, acquires Jeevansathi.com

Observing the spiralling popularity of matrimonial websites in the country, job portal Naukri.com has acquired the matrimonial website Jeevansathi.com. Confirming the development to exchange4media.com, Hitesh Oberoi, Director, Sales and Marketing, Naukri.com, said, the online recruitment group has plans to invest around Rs 12 crore in jevansaathi.com in the coming year for up gradation of its products and services.

Elaborating further on the acquisition, Oberoi added that Naukri.com had 35 per cent stake in jeevansathi.com since its inception in 2000. The motive behind 100 per cent acquisition was to expand the horizon beyond just being an online job portal. Naukri.com at present is doing a business of Rs 46 crore and expects to double up its turnover by the next financial year. Business worth Rs 12 crore is anticipated from jeevansathi.com with enhanced investments, he informed.

Sanjeev Bikhchandani, Chief Executive Officer, Naukri.com, was of the view that matrimonial websites were one of the biggest revenue-generating online businesses in the country. The decision to acquire jeevansathi.com was a move to position Info Edge (India) Pvt Ltd – the parent firm as an integrated media player. “The profits from Naukri.com would be mulled in Jeevansathi.com, while new products would be added to the site in order to make it more commercially viable,” he said. At present, jeevansathi.com has a database of over 1,30,000 profiles and around 1,000 profiles are added to the site every day. The name of the website would remain the same and the existing board of directors of Naukri.com would be heading the functions of Jeevansathi.com, Bikhchandani added.

Referring to the buyout, Jeevansathi.com chief executive Amit Tandon said a good deal was offered by Naukri.com. Hence, the decision to become a 100 per cent subsidiary of Naukri.com was not turned down.

Naukri.com was established in March 1997 as a floorless employment exchange – as a platform for employers and jobseekers to meet and exchange information. The site was launched with a database of jobs, resumes and placement opportunities. Today, the client list of Naukri.com boasts of over 7,500 companies. The website receives over 80 lakh-unique visitors annually.

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