Friday, September 20, 2013

Japanese Human Resources Firm Recruit Looks to Buy Freelancer.com



         The article claims that apparently, a Japanese recruitment site giant known as Recruit Co., which, for a long time, has been bracing for an IPO, is on the verge of purchasing Freelancer.com, which is a Sydney-based outsourcing market for small businesses. The Japanese firm plans to purchase Freelancer.com at 400 million dollars. The Japanese firm is planning on this purchase just a month after purchasing Nugrid, which is in India and exactly a year after buying Indeed.com.

        Freelancer.com which is an outsourcing website allows professionals and experts to bid on work projects like web design, article writing and application development. It boasts of 8.8 million users who are registered and has completed projects worth 1.2 billion dollars via this platform. It was founded in Australia but the outsourcing website has a global presence comprising of a massive outsourcing workforce in South East Asia, North America and the Subcontinent. It increased in the recent years by purchasing Script-lance from Canada.

        The revenue of Freelance.com is yet to be established, however, the Japanese based Recruit. Co boasts of an annual turnover totaling ten billion United States dollars. If the deal goes through, it would be opening an avenue for Recruit. Co to further its expansion into overseas markets and it is particularly aiming for English-speaking international markets like the United States and Europe. This would further imply that this company would offer a different marketplace style services and products to its job seekers and current clients. This trend is a show of how the Japanese companies continuously scour for international markets to promote growth from without their stagnating home markets.

the article in the Wall Street Journal website and it was published on September 10, 2013. The link to the Wall Street Journal website is - http://online.wsj.com/article/SB10001424127887324094704579066161943231656.html


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