LBO – Emerging Media, a location-based digital advertising company has invested 100 million rupees in XpressJobs in exchange for a 25 percent stake of the company.
The company said in a statement that Emerging Media’s tie with XpressJobs aims to further expand the company’s operational capabilities and also greatly increase visibility for companies advertising with XpressJobs on the 200+ locations that Emerging Media is present in.
The agreement was signed between Sanjeewa Rajapakshe – Founder and Managing Director of Emerging Media, Tyner Fernando – Director of Emerging Media, Chathum Henegama – Chief Executive Officer of XpressJobs and Oshadie Korale – Chief Operating Officer of XpressJobs.
“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,” says Sanjeewa.
Emerging Media’s previous investments include companies such as Pay Here (a company that helps Sri Lankan business get paid online globally) and Cooking TV, Emerging Events and Out Of Home Media.
According to XpressJobs, it has experienced a 60 percent increase in revenue from 2018 – 2019.
“Most recruiters have a website or portal to advertise jobs but not many couple it with HR software the way we do. Some companies have HR software but their HR teams don’t use it because it’s too much work. That’s where our services bring in results,” says Chathum.
“We want to be the job site that a company can visit to hire employees from ground staff to CEO. 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,” adds Chathum who also plans on introducing more subscription options which will give clients access to a more customisable and extensive range of services from XpressJobs.
Despite being in operation for only four years, XpressJobs has attracted and retained over 3600 clients such as HSBC, Dialog Axiata, Hemas, John Keells companies, Toyota, Huawei, Uber, Softlogic, Nations Trust Bank, KPMG and Pearson.
XpressJobs lets companies assess and filter applicants by asking mandatory questions from applicants and also introduced a CV-less application system (in all three languages) for job seekers without a CV, an SMS service that is specifically 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.
Additionally, XpressJobs uses creative video job advertisements to portray the culture and work lives of the employees which not only stir interest in the job seekers but become successful branding avenues for the companies.
With the site clocking 800,000 page views per month, the team is working on expanding their services to reach beyond Sri Lanka to the larger South Asian region as well.L to R: Dr. Oshadie Korale COO XpressJobs, Chathum Henegama CEO XpressJobs receiving signed agreement from Sanjeewa Rajapakshe MD Emerging Media and Tyner Fernando Director, Emerging Media