Date
23 May 2017
Li Ka-shing (inset) invests in disruptive technologies through Horizon Ventures. He is a major backer of Jobspotting, Facebook and Spotify, among other tech companies. Photo: Reuters
Li Ka-shing (inset) invests in disruptive technologies through Horizon Ventures. He is a major backer of Jobspotting, Facebook and Spotify, among other tech companies. Photo: Reuters

German job website backed by Li Ka-shing takes fight to LinkedIn

A German recruitment website backed by Hong Kong billionaire Li Ka-shing is seeking funding to expand its offering to the US and other markets.

Jobspotting GmbH will start talks with potential investors anytime soon, Bloomberg reports, citing chief operating officer Robin Haak.

The company is seeking to add more job categories, languages and enter new markets to more effectively compete with LinkedIn Corp.

Jobspotting is backed by Horizon Ventures, Li’s privately held venture capital fund which invests in disruptive technologies.

“We’re looking for a strong partner and are talking to the usual suspects,” Haak, who co-founded the Berlin-based company in 2013, said.

“We’re seeking a close by April.”

Job websites could boost the global economy by US$2.7 trillion and add 72 million full-time jobs by 2025 by more effectively linking individuals with work opportunities, according to McKinsey.

Jobspotting, which partners with Monster Worldwide Inc. and competes with LinkedIn and Indeed Inc., in April secured a six-digit-euro investment from Li’s Horizons Ventures, which has previously funded companies including Facebook Inc. and Spotify Ltd.

On Wednesday, Jobspotting, which is adding 20,000 new listings a day, will launch 200,000 company profiles that can be managed and analyzed by HR departments, Haak said.

It expects to become profitable by July next year by monetizing some extra features for companies, he said.

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