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Jobstreet

Online employment company

Summary

Online employment company

Field	Value
name	Jobstreet
logo	JOBSTREET small scale.png
collapsible
collapsetext
background
company_type	Subsidiary
website_type	Job search engine
language	Indonesian, English
founded	in Malaysia
headquarters
location_city	Kuala Lumpur
location_country	Malaysia
area_served	Malaysia, Philippines, Singapore and Indonesia
author
founder	Mark Chang Mun Kee
editor
services	Internet
international
employees
parent	Seek Limited
subsidiaries
url
commercial
registration
content_license
issn
eissn
oclc

Jobstreet is a Southeast Asian online employment website, operated by the Australian Stock Exchange-listed SEEK Limited.

Founded in Malaysia in 1997, Jobstreet expanded its presence across the region and currently operates in Malaysia, Indonesia, the Philippines, and Singapore.

History

Envisioned to provide an automated platform for accurately matching employers and jobseekers, Jobstreet was founded by Mark Chang Mun Kee as a spin-off of MOL.com in 1995. The starting capital of Jobstreet was reportedly US$2.6 million back then. Prior to that, its parent company MOL AccessPortal was sold to Vincent Tan, the CEO of Berjaya Group for US$3.2 million. Conservative management helped the company sidestep the dot-com bust in 2000s. In 1999, San Francisco venture capital firm Walden International and Sumitomo Corporation Capital Asia made $1.6 million investment in the company and increased its stake in Jobstreet to 30% in 2001. Walden catalyzed Jobstreet's move from a start-up to a regional major market player. It urged Mark Chang to hire executives with business experience, to expand to other key Southeast Asia countries and to trim cost.

It became a public listed entity in 2004 when parent company JobStreet Corporation Berhad was listed on the MESDAQ Market of Bursa Malaysia Securities on 29 Nov 2004. Thereafter, Jobstreet.com was listed on the Main Board in October 2007, under stock short name, JOBST. Jobstreet owns 22.43% of the Taiwanese online employment provider 104 Corporation, 21.13% of the online marketing technology and services company, Innity Corporation and the automotive portal, Autoworld.com.my.

Jobstreet.com was selected by Forbes Asia as Best 200 Under a Billion company in 2007 and 2008. In April 2013, it crossed the RM1 billion market capitalization milestone. Following its purchase of 10.1% stake in 2008 for $19.3 million and another 11.2% stake for RM70.9 million in 2010, SEEK Limited, the Australian internet job recruitment company made a complete takeover in 2014 for RM 1.73 billion together with co-investors, News Corp, Tiger Global and Macquarie Capital.

In 2024, SEEK merged its APAC employment marketplaces - SEEK, Jobstreet and Jobsdb - into a single unified platform powered by SEEK's AI technology. This integration brings together millions of talent and employers across APAC.

References

Prystay, Cris. (January 28, 2008). "Turning Classifieds Into Cash". Forbes.com.
(2001). "Asian Business". Far East Trade Press.
"Bernama Media Relations: Jobstreet.Com Transfers To Main Board". Mrem.bernama.com.
(2012). "JobStreet.com Annual Report 2012". JobStreet.com.
"Jobstreet Corporation Bhd Quarterly Report Notes 31 Mar 2008". Ir.chartnexus.com.
(2008-09-19). "Forbes Asia's Best 200 Under A Billion company". Forbes.com.
Singh, Karamjit. (8 May 2013). "JobStreet hits milestone, crosses RM1bil market cap". Digital News Asia.
"LIVENEWS.com.au".
(10 March 2010). "Seek ups stake in JobStreet". The Australian.
(Feb 19, 2014). "Australia's SeekAsia buying JobStreet's business for RM1.73b (Update)". The Star.
(Feb 20, 2014). "JobStreet to pay almost all of $661 million from sale of online business as dividend". Asia News Network.
Moullakis, Joyce. (24 Feb 2014). "Behind the deal: SEEK's Asia push a long game". BRW.
News, SUNDY LOCUS, GMA Integrated. (2024-01-31). "Jobstreet, JobsDB, SEEK merged in single, AI-powered platform".

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

1997-establishments-in-malaysia msc-malaysia employment-websites malaysian-websites business-services-companies-established-in-1997 2014-mergers-and-acquisitions companies-based-in-kuala-lumpur privately-held-companies-of-malaysia companies-formerly-listed-on-mesdaq online-companies-of-malaysia

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