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JobStreet
Company typePublic (KLSE:[1])
IndustryJob Search Engine
Founded1997
HeadquartersKuala Lumpur, Malaysia.
Key people
Mark Chang Mun Kee, CEO
Suresh Thiru, COO
Albert Wong, CTO
Greg Poarch, CFO
Websitewww.jobstreet.com

JobStreet.com is a job portal founded in 1997. Founded in Malaysia, it is now Southeast Asia's largest online employment company, according to Forbes.[2] As of July 2010, the Group services over 60,000 corporate customers and over 7 million jobseekers.[3] In 2007, JobStreet.com had already been serving over 40,000 corporate customers and over 4 million jobseekers.[4][5]

It became a public listed entity in 2004 when parent company JobStreet Corporation Berhad was listed on the MESDAQ Market of Bursa Malaysia Securities on 29 Nov 2004. Thereafter, JobStreet.com was listed on the Main Board in October 2007.[6] under stock short name, JOBST. JobStreet also owns Autoworld.com.my, the Malaysian auto website.[7]

Products and services

The website features a job matching engine named LiNa for jobseekers and a job posting platform named SiVa for employers. The firm also provides other online recruitment products and services such as online recruitment, outsourced human capital service, software as a service (SaaS), e-commerce & e-business and jobseekers' services.[8]

The firm also provide resources for jobseekers' career growth. Among these are the JobStreet.com English Language Assessment, the JobStreet.com Resume & Interview assessments,[9], salary reports,[10] and JobStreet Blog,[11] (fondly called as BlogStreet).[12]

Management team

Suresh Thirugnanam,- Chief Operating Officer
Greg Poarch - Chief Financial Officer

History

Envisioned to provide an automated platform for accurately matching employers and jobseekers, JobStreet was founded by Mark Chang Mun Kee as a spin-off of MOL.com in 1995. The starting capital of JobStreet was reportedly USD 2.6 million back then.[13]. Prior to that, its parent company MOL AccessPortal was sold to Vincent Tan, the CEO of Berjaya Group for USD 3.2 million.[13] Conservative management helped the company sidestep the dot-com bust in 2000s.[13] In 1999, San Francisco venture capital firm Walden International made $1.6 million investment in the company and increased its stake in JobStreet to 30% in 2001. Walden catalyzed JobStreet's move from a start-up to a regional major market player. It urged Mark Chang to hire executives with business experience, to expand to other key Southeast Asia countries and to trim cost.

Corporate affairs

On April 10, 2008, JobStreet announced its partnership with the 1 Team Malaysia. JobStreet logo had then been featured on the rear wing of the Malaysian A1 Race Car. In return, A1 Team banner advertisement was also feature on JobStreet.com homepage.[14]

On September 16, 2008, SEEK Limited, an Australian internet job recruitment company, bought a 10% stake in Malaysian employment site JobStreet Corporation for $19.3 million.[15]

On September 19, 2008 - for the second year in a row, JobStreet.com was selected by Forbes Asia as Best 200 Under a Billion company.[16]

On April 6, 2009, JobStreet.com launched PitchYourTalent.com,[17] a site which focuses on highlighting talents. In less than one year, this site has attracted about 80,000 new members.

In response to the global economic downturn in 2009, JobStreet.com launched JobStreet Retrenchment Helpline (RHL) which was officially ended on July 22, 2010.[3] Since the inception of the RHL, over 50% of retrenched JobStreet.com members have secured jobs during the past year through JobStreet.com.[18]

On May 13, 2009, JobStreet announced a marketing partnership with AsiaTravel.com, a pan-Asia online hotels and travel reservation service provider with network of offices in 8 countries. CEO of JobStreet described the partnership with this company listed on Singapore Stock Exchange as "mutually beneficial" as JobStreet would be able to bring jobseekers value-added leisure opportunities though some great travel products that they can take advantage of when they are not working.[19]

References

  1. ^ "Market | Bursa Malaysia Market". Bursamalaysia.com. Retrieved 2013-10-28.
  2. ^ "Turning Classifieds Into Cash". Forbes. 2008-01-18. Retrieved 2013-10-28.
  3. ^ a b "BERNAMA MREM Press Release & Asianet". Mrem.bernama.com. Retrieved 2012-07-13.
  4. ^ "International Association of Employment Websites: JobStreet wraps up 2006 with MYR 21.7 million profit". Employmentwebsites.org. Retrieved 2012-07-13.
  5. ^ "Flextronics International on the Forbes Global 2000 List". Finapps.forbes.com. 2011-03-29. Retrieved 2013-10-28.
  6. ^ "Bernama Media Relations: Jobstreet.Com Transfers To Main Board". Mrem.bernama.com. Retrieved 2012-07-13.
  7. ^ "Jobstreet Corporation Bhd Quarterly Report Notes 31 Mar 2008" (PDF). Ir.chartnexus.com. Retrieved 2012-07-13.
  8. ^ "JobStreet Corporation Berhad : Annual Report 2009" (PDF). Ir.chartnexus.com. Retrieved 2013-10-28.
  9. ^ "JobStreet.com Malaysia Assessments". Tools.jobstreet.com. Retrieved 2012-07-13.
  10. ^ "JobStreet.com : Salary Report". Myjobstreet.jobstreet.com. Retrieved 2013-10-28.
  11. ^ "BlogStreet from JobStreet.com". Blog.jobstreet.com. Retrieved 2012-07-13.
  12. ^ Lee, Zhi Yu. "Is JobStreet.com Ready for the Next Evolution of Job Market?". ZewSays.com. Retrieved 11 April 2012.
  13. ^ a b c Prystay, Cris (January 28, 2008). "Turning Classifieds Into Cash". Forbes.com. Retrieved 2013-10-28.
  14. ^ [1][dead link]
  15. ^ LIVENEWS.com.au
  16. ^ "Forbes Asia's Best 200 Under A Billion company". Forbes.com. 2008-09-19. Retrieved 2012-07-13.
  17. ^ "pitchyourtalent.com". pitchyourtalent.com. 2009-12-21. Retrieved 2012-07-13.
  18. ^ RHL survey, 2009
  19. ^ [2] [dead link]
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