Continuing its acquisition spree, Quikr on Monday announced the acquisition of Bengaluru-based Hiree, an online hiring platform focused on white-collar jobs, for an undisclosed sum. Hiree, which counts IT companies and India’s leading start-ups as its customers, will be merged with Quikr’s jobs vertical QuikrJobs.
This is the fifth acquisition made by the a cross-category classifieds business in the last two years and the third in 2016. Earlier in January this year, Quikr had acquired online realty portal CommonFloor and on-demand in-home beauty services provider Salosa. Last year, it acquired Realty Compass and Realty Exchange (IRX) under the QuikrHomes vertical. Hiree has a headcount of 40 employees, who will now work from Quikr’s campus.
Quikr reported a revenue of Rs 24.78 crore for the year ended March 2015, while its net loss was Rs 446 crore, according to a filing with the Registrar of Companies.
This acquisition helps Quikr to expand its portfolio of services into white-collar jobs. It already has presence in blue-collar and entry-level jobs across India. The acquisition will further strengthen QuikrJobs’ offerings to address recruitment needs for the entire spectrum of job categories across industries.
The combined entity will create a leading recruitment platform that connects over 4 million active candidates with recruiters across the country. The enhanced product portfolio, coupled with Quikr’s pioneering missed call service, will make a larger talent pool available to recruiters for entry-level, blue-collar as well as white-collar lateral hires, Quikr officials said.
“We launched QuikrJobs with an aim to bridge the gap between Bharat and India for the recruitment industry. We have created a successful business model there and it’s now time to level up. Speed is in our DNA and Hiree’s offerings aimed at shortening recruitment cycle times is a great match with that,” Pranay Chulet, founder & CEO of Quikr, said.
Hiree was founded by Manjunath Talwar and Abhijit Khasnis. IDG Ventures India is an investor in the company, while Ravi Gururaj is an advisor. The angels include Raghu Krishnananda, Shamsunder Talreja and Prashant Kirtane.
“Joining forces with Quikr allows us to double up our focus on innovating in recruitment space for both job seekers and our customers. Our customers will now gain the benefits of Hiree’s technology and massive scale of Quikr in parallel,” Talwar and Khasnis said.
QuikrJobs recently reached the milestone of over 1 million job-seekers’ profiles created through its missed call service alone. This is in addition to profiles created via desktop and mobile. The platform offers an easy-to-understand role-based search for both recruiters and job-seekers across full-time, part-time, work-from-home and also work-abroad options.
In a short span of two years, Hiree has moved ahead of competition by constantly adding benefits like smart-matching algorithms, real-time alerts, a unique private messaging system and a dedicated Android app for recruiters. The recently-launched Walk-in management system and a novel way of posting resumes as videos are keeping Hiree ahead, Quikr said in a statement.