CareerBuilder expands its Asian presence to Vietnam with double acquisition

CareerBuilder expands its Asian presence to Vietnam with double acquisition

US-headquartered online recruitment giant CareerBuilder has expanded its presence in Asia after moving into Vietnam following the completion of an undisclosed deal to buy HRVietnam and KiemViec, two sites owned by local Web content firm Vietnam Online Network (VON), according to Tech In Asia.

KiemViec, in particular, is a key service and, alongside rival Vietnamworks, it accounts for 90 percent of the revenues made in Vietnam’s online recruitment industry, the report says.

CareerBuilder, which competes with and and claims to include 1.5 million jobs worldwide, is listed on the New York stock exchange and offers services in North America, Europe and Asia. Its presence in the latter region includes India, Singapore, Malaysia and China, while it is active in Korea through local partner Incruit.

Tech In Asia reports that the company is planning to enter all of Asia’s ‘major markets’ by 2015. Given that its approach to growth has largely consisted of acquisitions — it purchased Singapore-based JobsCentral in 2011 — that’s likely to mean more exits for online job services in Asia.

Established in 1995 as NetStart, CareerBuilder counts Microsoft among its shareholders. The Redmond company purchased a 4 percent stake in the company in 2007 through a deal that saw its job listing engine made available to Microsoft’s MSN portal.

CareerBuilder offers a range of employment and job seeking-related services, including a career test, salary calculator and sites that specialize in IT and engineering, retail, restaurants and healthcare. It also has niche sites for college students and those seeking temporary work.

The service has around 2,000 employees worldwide. The site sees 24 million unique visitors a month, and it includes more than 90 percent of the Fortune 1000 among its clientele.

Vietnam has an unemployment rate of around 2.7 percent — which equates to 1.4 million of its 53.1 million population of working age — as of December 2012, but that figure is up from 2.01 percent in October, according to local media.

Headline image via Paul Cowan / Shutterstock

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