CandyDate Jobs stalls job portal launch

CandyDate Jobs, India’s largest human resource consultants has stalled the launch of its job portal, the company informed Exhilway Private Capital Market a secondary market for private companies where its membership units are traded. The company has postponed the job portal launch to September end. The company admitted in its statement that it was not able to innovate the best plans to monetize its free services and it will require some more time. The company is hesitant that it may lose market share if they try to charge its clients for the services which they were offering for free.

“We might not be launching job portal as of now but we will allow job seekers to upload their cv on candydatejobs.com. We will also start a job helpline where people can call to inquire about new job openings. Our executives will also call registered job seekers with latest job opportunities on the alternate day basis and will also mail them new job openings regularly. People who do not want calls may even opt for sms updates. The job portals are recording negative growth in the cities as people are much more interested in personalized services rather than a computer talking to them every time, even the job openings which job seekers receive in their inbox are not relevant,” said Rahul Malhotra, CEO of CandyDate Jobs while talking to the media.

CandyDate Jobs will outsource its job helpline services to a small but capable BPO. The project is expected to be worth US $17 million or INR 92 crore. Many small BPO’s from the Indian metro cities are trying their best to bag the project. The bidding process is on and the result will be announced early next week.

CandyDate Jobs valuation on secondary markets is on rise as the investors are taking long positions in the company as the business is poised to grow with astonishing pace. The market capitalization of the business stands at US $148 million or close to INR 800 crore. The market capitalization jumped 60% since its listing on secondary markets in April, 2012 and trade pundits feel that it may continue to rise with a rate of 100% every year.

Last month a set of investors warned CandyDate Jobs to monetize its free job search services else they may have to exit. The same set of investors are now found taking fresh long positions in the company.

According to the research analysts, CandyDate Jobs desire to add personalization to its services will certainly help them bag the maximum market share in India.

CandyDate Jobs will focus on its core business and will rope in a business partner to execute its much delayed business plans. CandyDate Jobs will invest INR 50 crore this year and will hire 60,00,000 people worldwide. An email questionnaire sent to the CandyDate Jobs inquiring about the potential suitor for business alliance went unanswered.

CandyDate Jobs will also foray into online retailing with styleadda.com, another delayed e-commerce project which is said to be the India’s largest online retailing project. CandyDate Jobs will offer discounted deals to its registered users.

CandyDate Jobs expects to clock a turnover of US $20 million or INR 110 crore from its online retail operations within next one year and projects the turnover to cross US $500 million or INR 2700 crore within next five years.

CandyDate Jobs is also considering to enter office supplies business, however there are no updates of any recent development.

CandyDate Jobs may also partly sell its retail business stake to styleadda.com to bring cash for investments into its core business. According to industry insiders officials of styleadda.com met Rahul Malhotra in South Africa last month to discuss the buy out plans but the discussions took no way as Rahul felt that the offered valuations are less.

CandyDate Jobs plans to list on India’s Bombay Stock Exchange’s SME Exchange by the end of 2013.

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

CandyDate Jobs
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JMD Regent Square
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This release was published on openPR.