Matrix-backed Chinese e-recruitment platform Liepin files for HK IPO

A customer counts Chinese Yuan notes at a market in Beijing, August 12, 2015. REUTERS/Jason Lee

Wise Talent Technology Services Co, the operator of Chinese online recruitment platform Liepin.com, on April 4 filed its prospectus for an initial public offering (IPO) in Hong Kong.

In its filing with the HKEx, the company said it plans to use the fresh capital to enhance its R&D capabilities, hire more engineers and data specialists, and increase IT investments over the next two to three years. A part of the funds will also go towards potential acquisitions or investments in assets and businesses complementary to its business, it added.

Founded in 2011 in Beijing by DAI Kebin, the former Brand Manager for Greater China at P&G, the company provides talent acquisition services, including headhunting, executive search, PRO (Recruitment Process Outsourcing), online recruitment and campus recruitment.

Liepin claimed in its prospectus that it is the largest online talent services platform in China focused on mid- to high-end talent in terms of total revenue in 2017, connecting about 38.9 million individual users and 248600 verified business users, as well as 101,840 verified headhunters as of December 31, 2017.

Liepin posted revenue of RMB 825 million (about $131 million) in 2017, up 40.5 per cent from RMB 587 million ($91 million) in 2016. Its profit for the year stood at RMB 16.7 million (about $ 2.8 million). About 96.5 per cent of its revenue comes from business customers, who pay for subscription packages and transaction-based talent acquisition services.

The company raised its pre-Series A and Series A rounds of funding led by Matrix Partners in 2011. It secured a Series B round, again led by Matrix, the following year. This was followed by a Warburg Pincus-led Series C round in 2014, and a Series D led by China Mobile Fund and Matrix in 2016.

The market for mid- to high-end talent acquisition services in China in terms of total revenue reached approximately RMB 149.3 billion in 2017 and is expected to continue to grow to approximately RMB 357.4 billion in 2022, the company said.

Also Read:

China’s Meituan-Dianping chooses three Wall Street banks for HK IPO

China Renaissance plans HK IPO as soon as this year, seeks $1.5-2b valuation

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.