How much the online Jobs sites are worth? $206 million in China.
Chinese online jobs site Zhaopin.com has received a big $110 million round of mezzanine funding. This is the largest ever investment in the online jobs sector in China in recent years. According to the company CEO Hao Liu, Zhaopin.com, this will be the company’s final round of financing before a planned IPO in 2010.
The latest purchases value Zhaopin—which translates as “help wanted”—at $206 million. The website is not making any profits. Insiders say it may be two years before Zhaopin breaks even. For the 2006-07 year it lost $13 million. Zhaopin is rapidly catching China’s largest job ads company, the Nasdaq-listed 51job.
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