Naukri To Spend Rs. 50 Crore On Portals; Considering Acquisitions In E-Learning
By Nikhil Pahwa - Mon 15 Oct 2007 04:41 AM PST
Naukri COO Hitesh Oberoi has told the Hindu that the company has set aside around Rs. 50 crore to fund the expansion of its other portals, and launch a new portal in the education space - bringing together colleges and students seeking college admission. The company is also considering investments in “e-learning and overseas education initiatives of other Internet companies.” - i.e. startups. Readers should remember that Naukri had disclosed in its IPO filing that it intends to allocate Rs. 30 crore to acquisitions and strategic partnerships.
There had been reports earlier that the company has planned an educational networking site, which I’ve learned was a misquote. About its plans for the educational space, there are existing sites that currently provide information for students - like pagalguy, coolavenues etc. Naukri also intends to increase headcount to 1600 by March 2008, from around 1350 currently.
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