The Board of Directors of Matrimony.com Limited approved the launch of a new line of business called Manyjobs.
The Company plans to launch a new line of business in the area of Jobs called "ManyJobs". The jobs market in India presents tremendous opportunity, specifically grey-collar jobs. While there are scale players operating in the white-collar jobs space, we see significant opportunity and whitespace in the grey-collar jobs market. "ManyJobs" will focus exclusively on the grey-collar jobs market and specifically on frontline and entry-level jobs that would help in the differentiated offering and build expertise. The Company is planning the initial launch for the Tamilnadu market in both English & vernacular (Tamil) as follows:
- In September 2024: Website for employers & recruiters
- In October 2024: App for job seekers
We will progressively scale this to other parts of the country.
The focus is exclusively on the grey-collar jobs market which is estimated to be about 45% and specifically on frontline and entry-level jobs. We believe that our focus on this specific market-segment would help us build deeper expertise and a differentiated offering, instead of trying to cater to all segments. Our research indicates that frontline roles have higher attrition rates than blue or white collar jobs.
The product will have differentiated features including:
- Location-first job search leveraging Google Maps
- Fully vernacular app for job seekers
- 100% verified companies
- Candidate match score which helps recruiters to easily identify & shortlist job applicants
- We will leverage our reach in matchmaking, our strong presence in south India and brand strength.
Shares of Matrimony.Com Limited was last trading in BSE at Rs. 775.35 as compared to the previous close of Rs. 780.35. The total number of shares traded during the day was 3665 in over 436 trades.
The stock hit an intraday high of Rs. 797.00 and intraday low of 762.60. The net turnover during the day was Rs. 2818163.00. |
