Prizedjobs.com is looking at a listing on Frankfurt-based Neurmarket (German bourse) to mop up $15-$20 million to part-fund its acquisition plans, according to the company's managing director K Lakshmikanth. The public offer is expected to hit the market in 8-12 months' time. Mr Lakshmikanth told The Financial Express that the company would look at acquisitions in the US once it is stabilised its presence in European markets. He said the company was expecting revenues to the tune of $10 million from Europe alone during 2002-03. ``Currently we are talking to 2-3 companies in the US,'' he said. Besides acquisitions, the proceeds would also be used to fund brand promotional activities in India and overseas, Mr Lakshmikanth said. He said the company was in the process of setting up bases in London and US.Other expansion plans would include offices across Europe, Australia and Singapore by March 2001, he said. According to Mr Lakshmikanth, by end-2000-01, the company would break-even, and by next April it would start posting profits. During the current fiscal the company was targeting a global turnover of Rs 5 crore, he said. He said Prizedjob.com's database currently had 52,000 resumes and 42,000 jobs of which over 60 per cent was IT-related. The company recruits for bluechip majors like Wipro, IBM, GE, TCS, etc. The portal had 4-5 million page-views a month, he said.
Mr Lakshmikanth said during the last eight months the company had recruited six country managers for Europe on salaries ranging from $100,000 - $375,000 per annum. Towards brand promotional activities, the company had conducted six IT-job fairs across the country which attracted over 2,500 candidates per fair, he claimed.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.