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JobStreet
File:JobStreet logo.png
Type of site
Public (KLSE:[1])
Founded1997
HeadquartersKuala Lumpur, Malaysia.
Area servedSoutheast Asia, Japan, India
Key peopleMark Chang Mun Kee, CEO
Suresh Thiru, COO
Albert Wong, CTO
Greg Poarch, CFO
IndustryJob Search Engine
RevenueRM1.61 billion (2012)[2]
URLwww.jobstreet.com
Users11 million

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.[4] It currently serves about 80000 corporate customers and 11 million jobseekers. Even as early as in July 2010, the Group services over 60,000 corporate customers and over 7 million jobseekers.[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 owns 22.43% of the Taiwanese online employment provider 104 Corporation,[7] 21.13% of the online marketing technology and services company, Innity Corporation and the automotive portal, Autoworld.com.my[8]

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.[9] Classified advertisement also serves as secondary revenue sources for JobStreet.[10]

The firm also provide resources for jobseekers' career growth. Among these are the JobStreet.com English Language Assessment, the JobStreet.com Resume & Interview assessments,[11] salary reports,[12] and JobStreet Blog,[13] (fondly called as BlogStreet, now defunct).[14]

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.[15] Prior to that, its parent company MOL AccessPortal was sold to Vincent Tan, the CEO of Berjaya Group for USD 3.2 million.[15] Conservative management[16] helped the company sidestep the dot-com bust in 2000s.[15] In 1999, San Francisco venture capital firm Walden International and Sumitomo Corporation Capital Asia 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.

The following table summarizes the growth in jobseeker and corporate customers of JobStreet.

Year JobSeekers Employers
2003 1851000[17] NA
2004 2578000[17] 15000[18]
2005 3477000[17] 20000[19]
2006 4168000[17] 20000[20]
2007 5303000[21] 45000[22]
2008 6007000[21] 50000[23]
2009 7032000[21] 50000[24]
2010 8298000 60000[25]
2011 10040000[26] 70000
2012 11450000[27] 80000[28]

Corporate affairs

JobStreet.com was selected by Forbes Asia as Best 200 Under a Billion company in 2007 and 2008.[29] In April 2013, it crossed the RM1 billion market capitalization milestone.[30] Following its purchase of 10.1% stake in 2008 for $19.3 million[31] and another 11.2% stake for RM70.9 million in 2010,[32] SEEK Limited, the Australian internet job recruitment company made a complete takeover in 2014 for RM 1.73 billion [33][34] together with co-investors, News Corp, Tiger Global and Macquarie Capital.[35]

References

  1. ^ "Market | Bursa Malaysia Market". Bursamalaysia.com. Retrieved 2013-10-28.
  2. ^ "JobStreet.com Annual Report 2012" (PDF). 2013. Retrieved March 7, 2014.
  3. ^ "JobStreet.com Site Info". Alexa Internet. Retrieved 2014-03-07.
  4. ^ "Turning Classifieds Into Cash". Forbes. 2008-01-18. Retrieved 2013-10-28.
  5. ^ "BERNAMA MREM Press Release & Asianet". Mrem.bernama.com. Retrieved 2012-07-13.
  6. ^ "Bernama Media Relations: Jobstreet.Com Transfers To Main Board". Mrem.bernama.com. Retrieved 2012-07-13.
  7. ^ JobStreet.com Annual Report 2012 (PDF). JobStreet.com. 2012. p. 4.
  8. ^ "Jobstreet Corporation Bhd Quarterly Report Notes 31 Mar 2008" (PDF). Ir.chartnexus.com. Retrieved 2012-07-13.
  9. ^ "JobStreet Corporation Berhad : Annual Report 2009" (PDF). Ir.chartnexus.com. Retrieved 2013-10-28.
  10. ^ Krishnamurthy,...éditeur, Sandeep (2006). "Job Search at Naukri.com". Contemporary research in e-marketing (2 ed.). Hershey (Pa): Idea Group Pub. ISBN 978-1591408246. {{cite book}}: |access-date= requires |url= (help)
  11. ^ "JobStreet.com Malaysia Assessments". Tools.jobstreet.com. Retrieved 2012-07-13.
  12. ^ "JobStreet.com : Salary Report". Myjobstreet.jobstreet.com. Retrieved 2013-10-28.
  13. ^ "BlogStreet from JobStreet.com". Blog.jobstreet.com. Retrieved 2012-07-13.
  14. ^ Lee, Zhi Yu. "Is JobStreet.com Ready for the Next Evolution of Job Market?". ZewSays.com. Retrieved 11 April 2012.
  15. ^ a b c Prystay, Cris (January 28, 2008). "Turning Classifieds Into Cash". Forbes.com. Retrieved 2013-10-28.
  16. ^ "Online recruitment firm Jobstreet's resume is looking good". Asian Business. Far East Trade Press. 2001. p. 19. {{cite book}}: |access-date= requires |url= (help)
  17. ^ a b c d "JobStreet Corporation Berhad Annual Report 2006" (PDF). p. 2. Retrieved 7 March 2014.
  18. ^ "JobStreet shows strong growth". 25 Nov 2004. Retrieved 7 March 2014.
  19. ^ "JobStreet reports nine months' profit of RM11.9 million". 22 Nov 2005. Retrieved 7 March 2014.
  20. ^ "JOBSTREET.COM Wins Best Online Service Provider Award". 23 Jan 2006. Retrieved 7 March 2014.
  21. ^ a b c "JobStreet Corporation Berhad Annual Report 2009" (PDF). 2009. p. 2. Retrieved 7 March 2014.
  22. ^ "JobStreet.com delivers a strong 47% jump in profits for 2nd Quarter, 2007". KUALA LUMPUR. 18 Aug 2007. Retrieved 7 March 2014.
  23. ^ "JobStreet delivers strongest year-end results yet with RM 28.9 million profit". KUALA LUMPUR. 25 February 2008. Retrieved 7 March 2014.
  24. ^ "JobStreet.com Reports RM7.3 Million Net Profit for Q2 2009". Kuala Lumpur. 18 Aug 2009. Retrieved 7 March 2014.
  25. ^ "JobStreet.com Reports RM8.7 Million Net Profit for Q1 2010". KUALA LUMPUR. 18 May 2010. Retrieved 7 March 2014.
  26. ^ "JobStreet Corporation Berhad Annual Report 2011" (PDF). 2011. p. 7. Retrieved 7 March 2014.
  27. ^ "JobStreet Corporation Berhad Annual Report 2012" (PDF). 2012. p. 7. Retrieved 7 March 2014.
  28. ^ "JobStreet.com Reports RM14.9 Million Net Profit for Q4 2012". KUALA LUMPU. 19 February 2013. Retrieved 7 March 2014.
  29. ^ "Forbes Asia's Best 200 Under A Billion company". Forbes.com. 2008-09-19. Retrieved 2012-07-13.
  30. ^ "JobStreet hits milestone, crosses RM1bil market cap". Digital News Asia. Digital News Asia. Retrieved 7 March 2014. {{cite web}}: |first= missing |last= (help)
  31. ^ LIVENEWS.com.au
  32. ^ "Seek ups stake in JobStreet". The Australian. 10 March 2010. Retrieved 7 March 2014.
  33. ^ "Australia's SeekAsia buying JobStreet's business for RM1.73b (Update)". The Star. Feb 19, 2014. Retrieved 7 March 2014.
  34. ^ "JobStreet to pay almost all of $661 million from sale of online business as dividend". Asia News Network. Feb 20, 2014. Retrieved 7 March 2014.
  35. ^ Moullakis, Joyce (24 Feb 2014). "Behind the deal: SEEK's Asia push a long game". BRW. Retrieved 7 March 2014.
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