CJOS have been approached by Deberry Ventures, a private equity firm for the early stage investment, Deberry already owns a minority stake in CJI. Officials of Deberry is already in talks with Rahul Malhotra, CEO of CJOS but nothing is finalized yet, according to insiders CJOS may raise US $2 million initially to compete against established dot com players like naukri, timesjobs and shine.
“There is a stiff competition in the job market but job seekers are ready to go with the best, there is no brand loyalty as such. This our first Internet based project and we are pretty sure we will be able to fulfill the demands of the Indian youth,” said Rahul Malhotra while addressing media in an online web conference.
CJI have over 2 million active registered users and is preparing for an IPO to list on the Indian bourses. Deberry’s deal in December last year has valued CJI at US $56 million or INR 275 crore and a stock market listing may value the business at US $70 or INR 350 crore. In the next few months CJI will go for extensive promotional campaigns to further strengthen its brand and boost the total registered user base which will benefit the upcoming job portal.
“Keeping in mind the slowdown and the inflation rate in India, job seekers will actively find the best job opportunities this will increase the competition among various job portals. In this industry an established brand name cannot get the extra premium as we all work with the same set of employers. Who ever will provide the best services to the job seekers and employers will sail head,” said Tarun Gupta, partner, CJI.