Emerging Media invests Rs.100 m in start-up XpressJobs
Emerging Media, a location-based digital advertising company has invested Rs. 100 million in XpressJobs in exchange for a 25 per cent stake in the company.
The agreement was signed between Sanjeewa Rajapakshe, Founder and Managing Director of Emerging Media, Tyner Fernando Director of Emerging Media, Chathum Henegama Chief Executive Officer of XpressJobs and Dr. Oshadie Korale - Chief Operating Officer of XpressJobs, the new investor said in a media release.
As one of the largest location-based digital advertising companies in Sri Lanka, Emerging Media’s af f i l i ation with XpressJobs aims to further expand the company’s operational capabilities.
It will increase visibility for companies advertising with XpressJobs on the 200+ locations that Emerging Media is presently active in. Mr. Rajapakshe Founder and Managing Director of Emerging Media, said that “we were previously competitors, but have merged to attain the full potential of the business venture. We are confident of the technology XpressJobs is working with and envision great progress”.
Emerging Media has invested in many other companies earlier. They are Pay Here ( a company that helps Sri Lankan businesses to pay online globally), Cooking TV, Emerging Events and Out Of Home Media.
The start-up which experienced a 60 per cent increase in revenue from 2018 - 2019, is constantly searching for innovative ways of filling vacancies. Mr. Henegama, CEO of XpressJobs, said: “Most recruiters have a website or portal to advertise jobs but not jointly with HR software as we do. Some companies install HR software but the HR teams don’t operate it. Our expertise in both provides results. We are a job site that a company can visit to hire employees from ground staff to a CEO”.
He added, “In expanding our marketing and product development, we engage people from all age groups and socio- economic backgrounds in Sri Lanka, whilst introducing more subscription options which will give clients customised accessibility and an extensive range of services from XpressJobs”.
Being in operation for only four years, XpressJobs has attracted and retained over 3600 clients such as HSBC, Dialog Axiata, Hemas, John Keells Holdings, Toyota, Huawei, Uber, Softlogic, Nations Trust Bank, KPMG and Pearson. XpressJobs lets companies efficiently assess and filter applicants by asking mandatory questions from applicants and has introduced a CV-less application system (in all three languages) for job seekers, an SMS service that is specifically designed to make walk- in interviews more efficient, online timed tests that make the process effective for both the recruiter and the applicant in the hiring p r o c e s s . A d d i t i o n a l l y, XpressJobs uses creative video job advertisements to portray the culture and work lives of the employees which not only triggers interest in the job seekers but become successful branding avenues for the companies.
With the site xpress.jobs clocking 800,000 page views per month, the team is working on expanding their services to reach beyond Sri Lanka to the larger South Asian region as well.