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KEY STAT | Recruiting app Boss Zhipin files for Nasdaq IPO

Written by Julianna Wu Published on     1 min read

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Boss Zhipin is China’s largest online job site by monthly active users.

The Chinese company behind online recruiting app Boss Zhipin, which literally means “Boss direct recruitment,” on Friday submitted its prospectus for a public listing on Nasdaq, aiming to raise around USD 300 million, The Paper reported.

The Tencent-backed firm revolutionized the country’s traditional hiring process by allowing applicants to contact and chat directly with prospective employers, bypassing costly brokers and headhunters, according to 36Kr.

The app, which counts Wonder Women actress Gal Gadot among its brand ambassadors, was the largest online recruitment platform in China in terms of average monthly active users last year, said the prospectus. It had an average 24.9 million MAUs by the end of March 2021.

“Boss Zhipin is committed to improving the efficiency of connecting workers to jobs through technology,” said founder and CEO Zhao Peng. “We firmly believe that what we do ultimately is to serve individuals. By assisting individuals’ development, we facilitate efficient allocation of human resources and create greater value for society.”

The company posted USD 302 million in revenue in 2020, up 95% compared to the year before. Its net loss for the three months ended on March 31 was USD 27 million, compared to USD 43 million in Q1 2020. According to the filing, 82.6% of Boss Zhipin’s registered employers are small and medium-sized enterprises.

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.

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