Also Seek has a clause to keep Suresh as employee. Wonder how that discussion went. With about 20M USD, Suresh can easily go retire too. Wonder how he will feel running a company that he no longer has a stake in. Maybe he is viewing the overall Asia job and compete with Adrian who is running JobsDB from HK.... even then, at most they pay 1M a year......about same as what his portfolio can return.....
Disclaimer : I am currently still working as a Regional MD with CareerBuilder which acquired JobsCentral back in 2011.
Third, globally job portals are consolidating with now about 6 players worldwide who are worth over 1B USD. Jobstreet as a middle sized player in the region will find it increasingly challenging to keep up technologically with the global players.
So what next? Job Portals are a formidable business. In the region, they are worth over S$200M in annual sales and make EBITDA of about 25-35%. This makes job portals probably the most profitable of internet companies in the past 5 years. And they are really an ASEAN industry with multimillion dollar market sizes in SG, MY, VN, TH, PH and ID.
They have tons of valuable data on employment and candidates, have large reach into HR community and have the technological and marketing resources to bring them all together. It will be interesting to see how these global players morph themselves in the years ahead. But one thing i know for sure, don't write them off!