Rocket Internet firm everjobs to expand in Sri Lanka
ECONOMYNEXT – Rocket Internet company everjobs wants to expand beyond Sri Lanka’s main cities this year and sees good growth prospects given low internet penetration and high unemployment among youth, more likely to search for work online.
Everjobs entered the island one year ago and, despite existing job portals like topjobs, CV, and Sri Lanka Job Bank, has grown to have a data base of over 2,500 employers including multinationals and banks, and 35,000 registered job seekers.
“We made out platform more technical, with more features and standardised applications, enabling people to create profiles and apply directly to companies through our site,” said Gijs Verheijke, recently appointed regional chief executive for everjobs Asia.
Everjobs sees more room for growth despite existing competition with internet penetration only 20 percent among the 21 million population, he told EconomyNext.com.
“With internet penetration being low, we feel we can grow and don’t feel the competition as a battle.”
The strategy of the career-listings platform of Rocket Internet, like its other companies, is to enter emerging markets in Asia and Africa early and expand rapidly as internet penetration grows.
Verheijke said everjobs has become profitable in Myanmar, where it has been for several years, and hopes to achieve profitability this year in Sri Lanka, Bangladesh and Cambodia.
Everjobs makes money by charging fees from employers while job seekers can use the portal for free.
The main employers using the portal are firms in financial services, tourism, construction, and consumer goods – all fast growing sectors, said Venkat Iyengar, head of business development everjobs sri Lanka.
More than 300 job seekers register with the portal daily mainly from the IT, financial services and tourism sectors, he told a news conference.
There are about 2,500 jobs on the portal at any given time and the firm wants to expand into blue collar jobs too.
With youth unemployment high at 21 percent and mobile adoption the biggest among youth, there are good growth prospects, he said.
“Thirty-five percent of traffic on our portal is from mobile,” he said.
“This year we want to expand islandwide,” Iyengar said. “We are now in Colombo and other towns like Galle and Matara in the south.”