Emerging Media invests Rs100mn in XpressJobs
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ECONOMYNEXT- Sri Lanka’s Emerging Media, a digital advertising firm, invested 100 million rupees in XpressJobs in exchange for a 25 percent stake, a statement said.
“We were competitors before we met, but we realised the full potential of this collaboration. We believe in the technology that XpressJobs is working with and envision great progress,” Emerging Media Founder and Managing Director Sanjeewa Rajapaksha said.
The job finder website started in 2016 had a 60 percent growth in revenue in 2019.
“It will also greatly increase visibility for companies advertising with XpressJobs on the 200 plus locations that Emerging Media is present in.” Rajapakshe said.
Rajapakshe, Emerging Media Director Tyner Fernando, XpressJobs Chief Executive Chathum Henegama and XpressJobs Chief Operating Officer Oshadie Korale signed the agreement
Henegama said the firm plans on introducing more subscription options which will give clients access to a more customisable and extensive range of services from XpressJobs.
“We want to be the job site that a company can visit to hire employees from ground staff to a chief executive. Apart from expanding our marketing and product development, we want to reach out to people from all ages and all socio-economic backgrounds in Sri Lanka,” he said.
Xpressjobs also introduced a CV-less application system for job seekers without a CV, an SMS service that designed to make walk-in interviews more efficient as well as online timed tests that make the recruitment process effective for both the recruiter and the applicant in the hiring process.
The firm has attracted and retained over 3,600 clients including top firms such as HSBC, Dialog Axiata, Hemas and the John Keells group.
Emerging Media’s investments include Pay Here, an online payment system for local firms, Cooking TV, Emerging Events and Out of Home Media. (Colombo/Jan25/2020)