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long messages to be sold worry-ushered in reverse. This morning, LAGOU declared worry d round of strategic funding of $120 million.
subsequently, the worry-posted on its official micro-signals, and signed agreements with the network, with $120 million in Exchange for pulling hook 60% stake in the network, became the focus on Internet recruitment services company’s largest shareholder. The transaction is expected to be completed in 2017 in the fourth quarter.
this round the two sides talked for nearly six months, and saw nothing more than other things they don’t have. Some say pulling hook take refuge in the worry, others say worry-investment concept is to fry, now seems both strategies make them together.
business pulling hook now has three blocks, Internet recruiting, Offer workshops (online training) and lagouyun personnel (personnel services), there are enough businesses to participate in up to play. Worry of these enterprises, is the only touch-up to the Internet. Meanwhile, Internet recruiting has always been a worry of the weak, pulling hook network Internet vertical recruitment with roots in more than four years, has the resources and experience, but also need to worry.
on the other hand, new business lagouyun staffing and recruitment as a whole into a new possibility, involving human resources outsourcing, pay social security, Enterprise Services will no doubt be similar to recruiting the next profitable business growth.
it’s hard to say whether this marriage can constitute a powerful combination, after financing can create new value, but there are a lot of business synergy, team is also reusable, there might formed a complementary.
announce financing information, interview with founder only received 36 krypton, spoke about the financing process and detail, also talked about the future pattern of cooperation, as well as in the field, but also how to play.
(the following question and answer content edited after 36 krypton)
on the financing process: before we really looked for recruitment
36 krypton: before the financing, you talked to and what home?
: talk a lot of VC, and independent PE, as well as insurance companies, Government funds have looked for this Thai together help us to do a lot of arrangements. We started special rather than insurance companies, first of all because they have the money, followed by some of the business we do have this requirement. Lagouyun personnel such as new business is a great opportunity, it needs to be SME clients, this is a starting point, an insurance enterprise has more users than worry, at first I was thinking of.
36 krypton: lagouyun personnel is a SME products, because customers now have been excavated much of the market it?
: Yes. But one day, I suddenly wanted to know one thing. With numerous corporate clients is a too general to say, your butt in this enterprise customers who are key to this year, I came to understand this truth, at first I think enterprise customers on the line, then I found out that I was wrong.
36 krypton: and so later found a worry?
: Yes. Until late yesterday when we only know that investing in our employees is the worry, a lot of people ask me why worry-rather than recruitment? I said, first worry-earnings is very good, net profit more than 30%, in addition to several companies who can reach this level? Another worry-covering more than 100 cities, but the recruitment of only dozens of cities, worry-worth $3.6 billion, Zhaopin worth 1 billion dollars, 3.6 times the gap.
36 krypton: and worry about is when to start?
: in April or May of this year, nearly half a year’s time after so long is almost finalized only recently.
36 krypton: I heard that you and worry about financing a few years ago, but did not succeed?
: May 2014 we talked about, when our b round of financing, but at the time I understood more than lighter now, I’m still trying to pull to extend the industry, how can you vote for me and I extended it not put me to sleep. I said, you put your IT section to me, over there that it’s hard, hard in internal operations. He said I want to invest in you, there are separate companies, you are sure to become the industry (vertical of Internet recruitment) boss, then my investment in this industry you have the layout. But I was going to cross, so I compete with you. I remember and say, you’re not lying to me, right?
2014 year that worry has given us a verbal offer, but she did not accept it.
but I found the last two or three years, after first adding the Internet to, I do not need to cross. Secondly I found that I cannot go out in the financial industry had a year or two, finally did get out, I should have kept this one or leave it. So I think the market today are not my plan, market is actually better than I thought. You will find that at this time, why do I worry about quickly? As the 2014 when worry come talk to us, we have had further contact, better understanding of each other, so decided to do more quickly this time.
36 krypton: I heard you talked to recruitment.
: Yes, we actually talk to CBN.
36 krypton: talking about financing or acquisitions?
36 krypton: then why not talk?
: because of worry about more quickly.
future collaborative: worry not holding, we insist on
36 krypton: I do not understand why worry-holding? It is like this, your results, the team is completely independent, what does flow, user data will not get through.
: to be honest, at first they don’t want to control, you might want to be, if I was holding you if you don’t do well. You know that investments will be felt. You see so many acquisitions in China, there are several companies after a takeover, CEO still work here? We all ran away.
but then they think you’re a separate company, and you in the field of vertical blocks are good, I didn’t vote for you I do well in this market. He also hoped that your team could do and don’t want to be telling me. He feels the team is OK, markets OK, our status, OK, so you did.
36 KR: so hope they holding?
: we focused on worry the resources, simply because he has China’s largest small and medium customers, and are precision corresponds to those company people with recruitment tasks. So we signed a very deep and worry-bound to ensure that said lagouyun personnel operations in the future to the past, just as Baidu, like where, to ensure that traffic in the past, this is the core of our aspirations.
36 krypton: LAGOU, in my impression has always been startup customers very much, but you say you work with worry, in fact, many small business customers resources is mainly look to it, so what’s different about these two client resources?
: first is to serve companies in the Internet industry, so companies in the Internet industry 100% is pulling hook customers. But at least we found out was now pulling hook above one-third’s enterprise customers are not the Internet companies, like cars, insurance, finance and real estate. They go, such as programmers, new media operations, they will pull the hook, because he found on any platform to recruit these people than hire those people right.
actually formed a pattern of the recruitment industry today, is the HR will also make good use of some of the company’s products, for instance, he used worry-or recruitment to the traditional industry’s sales, administrative, but if he is looking for programmers, products such as the new media people, he’s pulling hook online enrollment, If Express, logistics, and he’s going on 58. 2013 we will calculate exactly how big this industry, then how come she didn’t want to think that today this occurs Internet +. Who all in all sectors of the Internet, but one-third of the customer are not Internet company, this thing is beyond my imagination. Each recruitment platform, including hunt recruits, including the boss hired, each platform has its own position, pulling hook positioning you want to recruit programmers, product managers, new media, then you basically have to pull and pull hook Programmer jobs accounted for more than 40%, product manager, operations such as pure Internet jobs These together accounted for more than we 80%. But why should we worry small businesses because they have too many small businesses more than us.
36 krypton: the mode of co-operation between you and worry what?
: hook network will remain separate, with the IT sector in the data will not be together, but it can interface to our small businesses.
36 krypton: worry-plate customer IT resources to you, you still hang over the competition?
: the competition is there, it’s competition, but also compete with recruitment, hunting the external network. But we don’t have much competition in history, pulling hook not grab worry-and recruitment business, we are lower-end executive search business, such as work on the two-year programmers worry could not be found.
on earnings: mining the job market increase
36 krypton: net profit model, how over the years?
: network venture two years ago is too commercialized, mainly trying to do client products, the earliest recruitment product called “La plus”, is a standardized product, business after buying a membership system can go to online recruitment. Later made a recruiting line special “pulling hook”. That stage rely on advertising to make money, in 2014, millions of millions of revenue. To early 2015 commercialization, the first pattern is to try to recruit an individual to collect 3000-4000, we signed up 150 companies, but this model was not successful, and gave up half a year. Because we cannot keep track of the people entry, so there will be enterprises escape to happen.
then we collect the money part, results from, and changes to charges according to the intention to resume after the match. Now, worry, recruitment, hire companies such as hunting, charges solely according to a resume, such as collecting membership fees you 4000 dollars, you can search a lot of resumes. We don’t want to sell your resume, people of the Internet is more expensive, selling resume is losing, there is also a user of privacy risks. So we price much higher than the industry, 23000, 18000, 8800, etc for several grades of products.
the entire industry this year a trend, companies are less willing to pay for a service, and are willing to pay-for-performance, I’ll give you the money to recruit someone. So now it becomes equivalent to online search. So we now have pay-per-head of high-end consultancy services. Charge a fee ranging from $8000 to 15000, is actually half-manual, plus the original resume business, are particularly efficient.
36 krypton: quantity on this scale of human services business faster?
: we’ve just had a couple of months had revenue of tens of millions, and only teams now have dozens of people in this business. Including this one, now have a range of products to make money.
36 krypton: artificial services charged on a per-head basis, is the most profitable new business this year?
: the end of 2016, we have monthly income of tens of millions, has been up ever since. Biggest percentage contribution is actually one of the first sales by package plus is fully standardized services, income accounts for much more than 50%. Lagouyun is the end of 2015, new to commercial this year, now dominated by clients, income is still relatively small. Per head in the delivery of business actually began as early as 1.5 years ago tried, for the two leader were unsuccessful before.
36 krypton: the difficulty lies in what?
: I don’t think it’s the core reason is that this process of high-end users, and pure lines are not the same, and pure offline executive search is not the same, it is actually a complex.
36 krypton: this year will be the network opened a lot of new business growth for mining, for example (such as salary, social security, collaboration, training and other human resource management services), while the job market is very competitive, and how big it incremental now available for mining?
: in fact, perpendicular to the Internet is much larger than we expected. 2013 will be the network business is Internet-oriented person, I conservatively estimate 5 million users. Today Programmer jobs occupied in the company 20%-30%, annual graduate 801 million will have access to the Internet industry 2015 I estimate my plate expanded to 10 million by the time.