Nothing Is Free, CandyDate Jobs To Promote Paid Job Search

It was a rainy day on 10th April, 2012 in New Delhi when Rahul Malhotra, CEO of CandyDate Jobs India announced INR 1.4 crore loss from its Gurgaon based office for the year 2010-2011. It was raining outside but no monetary benefit was raining on the emerging human resource consultancy providing free job search services to its over 2 million registered users since its founding in 2009.

The company which got listed on Exhilway Private Capital Market in April this year generated over 40% returns for its investors in less than a month, but will business remain stable in the long run is the most asked question by the set of investors looking to pick up stake in the company. The market capitalization of the company which is currently hovering around INR 700 crore expects to cross INR 3,000 crore within the next three years.

CandyDate Jobs which is all set to enter the big league of emerging businesses wants to leave no stone unturned to generate revenues. They need investments from private equity funds to sustain their investments in technology and marketing and without any kind of revenue generation capability there will be few who will be interested.

The revenue starved company will monetize its services in the following manner: candidates will be free to register on its upcoming new job portal, but if they need priority or a personalized service they might have to shell out INR 100 and the candidates who are seeking guaranteed placement within the specified time may to have shell out INR 8000.

CandyDate Jobs which is all set to pump INR 50 crore in the business is confident that it will break even within the next three years. The money for investment will be raised via debt instead of sale of equity. The promoters are confident of solid growth and are capitalizing on fund raising via debt instead of selling out equity.

The company will opt for a senior management revamp as it is interested to add a flavour of professionalism to build brand value of the company. The company plans to hire a CFO and an assistant CEO to handle the business. The hefty packages are being discussed in the closed door meetings.

CandyDate Jobs is fairly in BPO sector as it serves over 80,000 BPO candidates every year. According to the document filed with Exhilway Private Capital Market the company is desirous to cater to the new business segments like Information Technology and Retail. The company is trying hard to bag hiring contracts on exclusive basis from the top companies.

According to the third party research analysts, CandyDate Jobs have taken the right step to differentiate between paid and free users and this will help company build a strong balance sheet ahead of its listing on Bombay Stock Exchange SME Exchange in the year 2014.

“We have taken this step due to candidates, there are some who needs a specialized services altogether and they are ready to pay. Some are okay with slow service and some need rocket speed service. This move will certainly add to our topline,” said Rahul Malhotra.

CandyDate Jobs will open 300 offices nationwide by the end of 2014 and may rope out a business partner to execute the business on the nationwide basis. The current employee base will double to 290 from current count of 145.

CandyDate Jobs hire online employees on the task basis instead of full time employees which help them save upto 40%. The cost of infrastructure remains minimum and the part time employees never asks for benefits.

CandyDate Jobs which is sure of 100% growth every year is concerned about inflation and slowdown of the Indian economy. According to the guidance provided by the company, hiring may see a slowdown if the inflation continues to rise but they are confident of a bumper hiring from small and medium business enterprises.

CandyDate Jobs is the India's largest human resource consultancy with business operations in over 30 countries worldwide.

CandyDate Jobs
Levels 2
JMD Regent Square
Mehrauli-Gurgaon Road
Gurgaon
India

This release was published on openPR.