Online jobs marketplace used by China’s web giants gets $2.5 million funding from Innovation Works
Chinese IT job listing website Neitui today announced it received RMB 2.5 million ($410,000) investment from Innovation Works, bringing the company’s total valuation to RMB $10 million ($1.64 million). The funds will be used to expand the current three-member team.
The website lists IT jobs from China’s most high-profile tech companies: Alibaba, Baidu (NASDAQ:BIDU), Tencent (HKG:0700), Sina (NASDAQ:SINA), Sohu (NASDAQ:SOHU), Renren (NYSE:RENN), and dozens more.
Neitui was founded by two former Shanda Games (NASDAQ:GAME) employees. It features an internal recommendation system that verifies headhunter profiles and limits the number of job posts to avoid spam and scams. It also let’s users contact potential employers through the company’s WeChat account, email, and private messaging to lessen its own role as the middle man.
Neitui has about 20,000 registered users with 4,000 to 5,000 unique veiws per day. More than 1,700 job seekers have posted their resumes, and the website has done very little marketing or promotion.
Recruitment services targeted at specific verticals are a growing trend in China, exemplified by websites like Nashangban, Lagou, and Renren Headhunting.