Naukri has filed for IPO with Sebi — here’s the filing.
Big congratulations to the team for making it happen. Sanjeev has been a diehard believer in the internet and that is what has brought the company to this stage. What I also like is that wealth has been shared generously with the team — Hitesh and Ambarish, who have had a long innings at naukri, deserve it.
The filing also discloses that Sherpalo/Kleiner had bought out just under $5m of promoters’ shares in their last investment — makes sense since naukri didnt seem to need the money then. long live venture capital 🙂
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Sanjeev and the entire Naukri team have done an exceptional job proving that the company can make money. They have brilliantly molded the jobsite business model to India’s market realities, especially with their sales team rollout. The proof is in the pudding!
This is really an exciting news for Internet Business in India . Sanjeev has proved that Internet business can make money and to be profitable you don’t really need to have an worldwide audience to serve . you can do it by serving the need to domestic customers also .
i had the opportunity to meet Hitesh and Sanjeev Twice . if anyone deserve this honour than it is this team. i can foresee a Mad rush to invest in all the dot com ..can we say that dot com boom 2 has finally started in India . i think now VCs will start looking at companies beyond Travel portals 🙂
Critical Q is what will they do with all the money they are raising ? there are two option which easily comes to mind 1) they will start expanding their operations overseas but honestly this doesn’t require a lot of cash they can easily leverage their “Word Of mouth ” Credentials . second is to diversify in other vertical . with jeevansaathi.com & 99acres.com in their stable this seems to be a logical step. I personally feel that 99acres is a good place to focus . in my last assignment at WebPlains (a great company BTW ) i have worked as a salesman in Staffing /recruitment domain . i have seen the clout of Naukri firsthand ( w.r.t to bixee and green hire episode ) .
and with whatever little exposure i have to real estate market i can safely say that stage is all set for infoedge to capture this market . with Naukri going public i think 99acres can get all the attention it deserve and Team infoedge should stop treating it as a step child .coming months will be interesting to watch the action .