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People258 Lands EUR 10 mln Investment

China Business News, 12/21/07

Wu Youwang, CEO of Ningbo-based recruitment website People258, has revealed that his company has received EUR 10 mln (approx RMB 100 mln) worth of first-round strategic funding from the Europe's Key Capital.

Over the next few years, the company will purchase operating rights for 100 recruitment agencies and use People258's platform to cooperate with 300 recruitment agencies in 30 large and medium cities around the country, creating China's largest online and offline recruitment agency alliance. The company plans to list some time before 2014.

According to analysis from Forbes, People258 is currently ranked 28th in the world for recruitment sites, and is in the top 8 Chinese professional recruitment sites. The company was founded in November 2000 with total registered capital of RMB 10 mln.

Keywords: online recruitment HR funding VC first-round IPO People258 Wu Youwang Key Capital Ningbo Zhejiang rankings Internet


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