(Yicai Global) Sept. 22 -- Beijing Lagou Network Technology Co., the operator of Lagou.com obtained USD120 million in its D round of strategic financing from 51job Inc. [NSDAQ:JOBS], and Lagou is set to go public in 2019, 36Kr reported today.
51job got a 60-percent stake in Lagou, but Lagou’s management, core team and organizational structure will not change, and Lagou’s team, customers and data shall continue to be completely independent, and will not be transferred to 51job, Lagou Chief Executive Ma Delong said. The company will speed up its revenue growth and accelerate its IPO process.
Founded in 2013, Lagou started in vertical recruitment. Its sales revenue grew at a rate of more than 100 percent for four consecutive years, and its monthly income surpassed USD15.2 million (CNY10 million), accounting for the largest vertical market share.
It has hundreds of thousands of customers and solves human resource management (salary, social security and training) issues. Due to market diversification, Lagou faces difficulties as the cost of purchasing traffic is increasingly expensive. Many Lagou workers said that the company’s current main business has reached its ceiling.
51job, an influential human resources service provider in China, adopts network media and advanced mobile information technology to offer a full range of professional human resources services. It has agencies in 25 cities and a full range of recruitment programs -- headhunting, campus recruitment and management software.