Date:01/10/2004 URL: http://www.thehindubusinessline.com/2004/10/01/stories/2004100101710500.htm

Back CyberMedia in venture with Dice

Our Bureau

Bangalore , Sept. 30

INSPIRED by the Rs 90 crore Indian online job board market, CyberMedia has entered into a joint venture with US-based Dice Inc to form CyberMedia Dice Careers Ltd. The new entity will focus on the technology-recruiting sector, Mr Pradeep Gupta, Chairman and Managing Director of CyberMedia, told presspersons here.

Once clearance from the FIPB (Foreign Investment Promotion Board) is obtained, it would be a few months before the joint venture takes off , company officials said. CIOL Jobs.com, the online recruitment portal of CyberMedia, will be merged into the new venture.

The venture, to be headquartered in Bangalore, is expected to garner a huge chunk of the Indian tech recruiting market.

Currently, technology recruiting makes up 40 per cent of the total Indian online job board market that is pegged to grow at 50 per cent year-on-year.

"While we cannot reveal the share CIOL Jobs.com holds in the Indian online job market, we receive 1.2 lakh unique visitors per month and the site generates Rs 5-7 lakh of revenue through online advertisements," said Mr Gupta.