Seek, an Australian digital recruitment company that was built by taking market share from print media, has bought a 25 percent share in One Africa Media for $25 million, its first foray into Africa, according to a report at ninemsn.
One Africa Media owns online marketplaces for cars, real estate and travel services, in addition to employment websites for Nigeria and Kenya, according to the report. The One Africa Media purchase therefore also represents a foray into different businesses, not just a new geographic region.
The domestic jobs website dominates Seek’s earnings, but this is changing, the report says.
Earlier in 2013, Seek bought the remaining 20 percent of JobsDB, which operates throughout the Asia-Pacific, and an additional 22.7 percent of China-based recruitment company Zhaopin, giving Seek 78.2 percent ownership and dominance in the marketplace for jobs.
Seek now owns businesses or shares in them in Africa, Southeast Asia, China, Brazil, Mexico, New Zealand and Australia. All of Seek’s businesses hold either the largest or second-largest market share, according to ninemsn.
Seek, which is traded on the Australian Securities Exchange, has more page-views and more advertisers than LinkedIn, the report says.