New Delhi: Recruitment services marketplace Aasaanjobs.com on Monday said it acquired Noida-based rival mHire in a cash-and-stock deal to increase its presence in north India and expand its client base.
“There is a cash component but the major part of the deal is stock,” Aasaanjobs chief executive officer Dinesh Goel said over the phone. He declined to give the size of the transaction.
The acquisition by Aasaanjobs is seen to strengthen its position in the blue-collar hiring market against larger rivals Quikr Jobs and Baba Jobs.
mHire, previously called DialJob, specializes in recruitment for skilled and semi-skilled workers at entry-level positions. It was set up by Priyank Bakshi and Bahul Arora in January 2015 and acquired JobShikari, another hiring start-up, a month later.
As part of the deal, mHire chief executive Bakshi is joining Aasaanjobs and will lead its staffing vertical, Goel said, while other members of mHire—about eight—have decided to move on.
“mHire has a strong presence in Delhi and north India and have good clients especially in logistics and retail space,” Goel said. “Through this deal, we are taking over their product (technology platform), domain, clientele and customers.”
mHire’s clients include BlueDart, Dominos, DTDC, Chaayos and Dunkin Donuts, among others.
Similar to the target company, Aasaanjobs, which is based out of Mumbai, operates an automated technology platform that connects its clients (companies looking for recruits) to recruitment consultants at the back-end who service the demand.
It charges clients based on recruitment volume and shares a percentage of the revenue with partner consultants.
Goel said Aasaanjobs had 450-500 recruitment vendors active at any point in time (out of a total of 3,000 registered) and about 800 billed clients including India Info line, HDFC Life, Tata AIA, Uber Technologies Inc. and Ola (ANI Technologies Pvt. Ltd.)
Aasaanjobs has a strong presence in the logistics, retail and banking and financial services space, according to Goel, and is looking to launch concentrated efforts towards manufacturing and healthcare sectors.
Founded in November 2014, Aasaanjobs is backed by Aspada, IDG Ventures India and Inventus Capital Partners. In February 2016, Aspada led a $5 million series A round in the company.