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Naukri.com managed to survive the dot.com bust.
Hitesh Oberoi, COO of the company explains, “We did not spend money
foolishly. We decided to invest $1.7 mn for setting up sales force, customer
service cell, product development etc.”
Post the bust, the portal brought changes in its business model including
introduction of a sales force, SMS database, resume maker and database service.
It hiked its listing fee to Rs 500. The portal charged Rs 350 per listing and
made Rs 2-3 lakh per month. It got a shot in the arm when in April 2000 ICICI
Ventures invested in it.
| Naukri.com |
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Hitesh Oberoi, COO
Founded:
1997
Investors: ICICI Ventures in April
2000; Ram Shriram of Sherpalo Ventures has made fresh investments and
bought 5% stake for $120 mn.
Initial Business Model: Online job
portal
Current Business Model: Online job
portal but also diversified into offline services with acquisition of
Quadrangle, a search company.
Revenues: $16 mn
Net Profit: $2.8 mn |
“We make value for customers so we have products for every price point. The
two sources of revenue for us now are database access services and advertising
service,” Oberoi says. Naukri.com is now the flagship portal of the group and
contributes 85% of the total group revenue of Rs 84 crore for 2005-06. Info Edge
diversified into other verticals such as matrimonial and real estate and
acquired Quadrangle, a search company in 2000 to provide offline services to the
clients.
Like most other companies, Info Edge is also planning to float an IPO very
soon.
Team DQ Page(s) 1
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