Baidu has invested a new round of over RMB 100 million (more than $ 15 million) into its wholly-owned online recruiting service Baijob.com, said Li Zhenwen, Chief Exec of the company, while the site will splash RMB 20 to 30 million (US$ 3.1 to 4.6 million) on ad campaign.
Baijob.com has already received RMB 100 million from Baidu in January of this year.
One of the main causes for the generous funding is that Baijob.com removes most of the ads on its website, which means that the Beijing-based company doesn’t count on ads for revenue and needs to figure out new revenue model. To most online recruiting websites, ads on homepage contribute to half of their profit.
Introducing Social Features
According to Li, Baijob.com is considering introducing reputation system that similar to what has been employed by Taobao. With the system, companies with good reputation will be recommended and featured by the system while those with bad reputation will be removed from the site.
Baijob.com is also trying to incorporatie social features into the site to build up some kind of social connection based on its resumes. The site to date has over 1 million users.