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Here is some clarity on Television Eighteen India Ltd (TV 18)’s acquisition of stake in JobStreet. TV18, India’s leading network has actuall…

Here is some clarity on Television Eighteen India Ltd (TV 18)’s acquisition of stake in JobStreet. TV18, India’s leading network has actually acquired a 50 per cent stake in the Indian operation (JobStreet.com India Pvt. Ltd) of the Malaysia’s leading online recruitment company (pls note: not the entire company). TV18 will infuse $2 million in cash and provide on-going media support to the business (note: media support means savings of $$). This is part of TV18′s strategy to enter a growing e-recruiting market in India (mind you, Naukri.com was expected to close last year ending March 31 with Rs $22.5 million in revenues).
Another interesting thing is TV18 is aggressively turning an internet investor. They recently invested in Yatra Online along with Reliance Capital and Norwest Venture Partners. Haresh Chawla, TV18 Group CEO said, ‘We expect to strengthen our presence in the consumer Internet space with this acquisition – this is part of our strategy to expand our offering to Indian consumers by exploiting the growing power and reach of the Internet.”
The Group already owns portals like moneycontrol.com, commoditiescontrol.com, poweryourtrade.com and ibnlive.com.
JobStreet is listed in Malaysia and has revenues of $14.8 million and net profits of $4.5 million for the year ended 31 December 2005. [Via Release]

  1. Hi my namwe is syed im from bangalore & im interested to work online for parttime jobs thats good for our features

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