U.S.-based Monster Worldwide has completed its acquisition of ChinaHR, the country's second-largest recruitment website, news wires report.
Monster paid USD174m for the remaining 55 per cent in Beijing-based
ChinaHR. "We've looked at other potential assets in China, and we by
far believe this is the most attractive and the one with best brand
recognition," The Wall Street Journal quotes Sal Iannuzzi, Chief Executive of Monster.
The company is in fierce competition with market leader 51job, which
controls 29 per cent of the online recruiting market in China, and
third placed Zhaopin, which hold 15 per cent, according to research
firm Analysys.
ChinaHR controls 24 per cent of the market and operates 12 offices
across the country, with most offices in Beijing, Shanghai the southern cities of Guangzhou and Shenzhen.
Online job advertising sales in China increased 38 per cent in the last
quarter, compared to the same period in 2007, to RMB299m.
News & Interviews 
(0 vote)
