Jooble acquires job aggregator Hotwork. Details of the deal
Ukrainian product company Jooble announced the acquisition of Hotwork job aggregator, popular in the CIS.
Hotwork is a Ukrainian company that operates in 4 markets: Ukraine, Belarus, Russia, and Kazakhstan.
The amount of the deal is not disclosed, but it could be about $30,000, as per AIN.UA data.
As AIN.UA has found out, Hotwork’s profit was about $160,000 in 2017 and less than $100,000 in 2018, so the dynamics are negative. Hotwork had been looking for a buyer for more than a year.
Jooble takes over only the Hotwork business related to local employment portals: hotwork.com.ua, hotwork.by, hotwork.kz, hotwork.ru. As a result of the deal, Jooble will obtain ownership of the listed sites, their content, and intellectual property rights.
Employees will continue to work at Hotwork, they will not switch to Jooble. The team will focus on another business that is related to SEO tools and does not have a relation to the job search.
The takeover will allow Jooble to accelerate the growth of its business in the field of job aggregation and sale of Internet traffic. The job seekers on the local Hotwork sites will get a bigger selection of job offers, and employers will be able to increase the flow of applies to their openings.