BEIJING, July 9 /Xinhua-PRNewswire/ -- Zhaopin.com completed a new round of financing for US$110 million. This US$110 million amount is the largest investment in the online recruitment industry in China in recent years. According to Mr. Hao Liu, Zhaopin.com CEO, this will be the company’s final round of financing before IPO.
The two lead investors participating in this round of financing are Macquarie Capital, a member of the Macquarie Group, which is a global provider of banking, financial, advisory, investment and funds management services, and Seek Limited, which is Zhaopin.com’s existing strategic investor and the largest online recruitment company in Australia. Paul Bassat, Seek Co-Founder and Joint-CEO, and Macquarie, both confirmed their intention as strategic investors in Zhaopin.com, to support the current management team to help build Zhaopin.com into the leading job search portal in China.
“Zhaopin.com achieved rapid growth over the past few years, attracting the attention of numerous domestic and international investors,” said Mr. Hao Liu, “And we selected the new investors after several rounds of careful review.” Mr. Liu also added, “Seek was able to rise above the competition and gain 60% market share in the Australia and New Zealand market in only three years time by implementing the correct strategy and outstanding execution. Macquarie has a long history of investing in the online media sector and recognizes the potential for Zhaopin to become the leading online job company in China. Strong cooperation between the investors and the management will provide a strong foundation for the company’s future success.”
Mr. Liu also said, “We plan to use the investment to improve product development and customer services as well as further promoting the Zhaopin.com brand. In providing the best recruitment services to companies in China, Zhaopin.com will be able to continue to achieve strong growth, making the company ready for a successful IPO in the international markets by 2010.
For more information, please contact:
Lucy Zhou
Tel: +86-10-5863-5888 x68186
Email: lucy.zhou@zhaopin.com.cn
