Baidu, the giant Chinese search engine, has set up a wholly-owned subsidiary to oversee its newly-founded online recruitment effort, which will be made known publicly in next month with independent domain name and new brand recognition, according to people familiar with the matter.
It is said that Baidu will invest over RMB 100 million (US$ 15.5 million) to strengthen its online employment solution.
The Chinese search powerhouse made its first foray into online employment area in this January, with a beta version website Baidu Rencai(means Baidu talents) featuring functions including importing resumes from other long-established online recruitment site such as ChinaHR, Zhaopin and 51Job. This is considered to be a serious threat to those sites as some observers see it.
Baidu Rencai has set up branch office in seven Chinese cities with a total headcounts of nearly 400.
Currently, the three big online recruitment services including 51Job, Zhaopin and ChinaHR dominate the market, while classified offerings like Ganji and 58 take up a small chunk of low-end job listing market. As for revenue, 51Job, Zhaopin and ChinaHR separately landed RMB 543 million, 401 million and 264 million(US$ 84.16 million, 62.15 million and 40.92 million) in online recruitment service.With Baidu casting greedy eyes on the waterfront, the fruitful market is facing even more intensive competition.
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