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Monster.com on prowl for new buy

business Updated: Feb 11, 2011 23:51 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Online job portal Monster.Com, part of Monster Worldwide, is gearing up for its second acquisition. The portal had acquired Jobsahead.com in 2004.

"We are looking at expansion and we would be interested in an entity which is strong in the technology domain," said Sanjay Modi, managing director, Monster India.

Online recruitment has caught up in the last one year especially with the revival in the domestic economy.

At present, there are 35 million registered users with online job portals. "There was a slump in 2009 and the first half of 2010. Things have started looking up and the job market is active once again and this includes the rural towns as well," Modi said.

Monster also plans to increase its focus in the rural market through Rozgar Duniya — its joint venture with ITC. "We have seen large number of PSUs, state-owned banks and insurance companies using our services for recruitment," Modi said.

Government-owned banks are set to go on an aggressive recruitment drive in the next two years. Thousands of jobs are likely to be created at the tier III towns and semi urban areas as well.

The rural job portal, which has already covered 10,000 villages in its first phase, now plans to cover 40,000 villages with the expansion of the financial inclusion programme. The portal, which has covered Uttar Pradesh, Rajasthan and Madhya Pradesh in the first phase, plans to cover Kerala, Haryana, Maharashtra, Tamil Nadu and Andhra Pradesh in the second phase.