Named as Firstnaukri.com, the site is expected to be up and running in the next couple of months. Most of the entry-level hiring is done through campus recruitments. Job portals play a very peripheral role in it. Firstnaukri.com will try to help colleges create more value for their students, said Ambarish Raghuvanshi, CFO, Info Edge (India) Ltd.
The company will tie-up with colleges for the venture. However, candidates will be free to post their resumes on the websites, informs Raghuvanshi. The FirstNaukri brand name was mooted by FirstNaukri Solutions Pvt Ltd, a Mumbai-based company promoted by Piper Serica Advisors Pvt Ltd.
We bought the domain name from them around 6-9 months back, said Raghuvanshi. He added the website was dormant for some time and the company is launching a brand new portal (with the same domain name) instead of refurbishing the old one.
Though the companys growth projection for the second quarter (20-25%) is much lower than the 36% registered in Q1 and 55% recorded last year in the wake of slowdown in hiring, Info Edge plans to invest Rs 100-150 million over the next 2-3 years in 8-10 start-ups. So far this year, it has invested Rs 310 million in three companies an online financial products company, eTechAces, an education information portal Studyplaces and an education content developer Applect.
According to Raghuvanshi, Info Edge is looking at a pan-spectrum presence in the Internet arena. Portals in the auto and B2B sectors are likely to be the target areas for future investment, as the company still doesnt have a presence in these segments.