Online classified company Quikr
India Pvt. Ltd has acquired Bengaluru based online recruitment platform Hiree
(Abhiman Technologies Pvt. Ltd) for an undisclosed amount in an attempt to
bolster its job listings business, Quikr Jobs.
Following the acquisition, Hiree
will merge with Quikr and the Hiree team will be adsorbed into Quikr. The combined
entity will have more than 4 Million active jobseekers. Hiree was founded in
May 2013 and connected potential jobseekers serving notice periods with
prospective employers in an attempt to fast track the recruitment process by
enlisting active jobseekers.
In May 2015, the company rebranded
itself as Hiree and allowed listings by all categories of jobseekers in an
attempt to increase its target audience. The company had raised INR 20 crore
from IDG Ventures and a clutch of angel investors. However, the company had a
bumpy ride as overall hiring, especially by startups, slowed down after
startups scaled back to conserve cash and started focusing on streamlining
their operations with the existing workforce following a slowdown in
investments.
As a classified portal, Quikr has
just one rival, OLX, which is backed by Naspers Ltd, a South African mass media
company. Tiger Global Management backed Quikr which has so far raised about
$346 Million from venture capital firms has been investing aggressively to
build these verticals by both acquiring companies and making strategic
investments. In May, Quikr acquired Gurgaon based home beauty services provider
Salosa for an undisclosed amount to bolster its home services business.
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