Created By:Smitha Nair | Created Date :17 December, 2020
UpGrad buys Hiring Firm Rekrut to Tap into India 15,000 crores Recruitment Sector
UpGrad, a Edtech startup providing career solutions, has now acquired a online recruitment firm Rekrut India for an undisclosed sum. It now will offer full career solutions---teaching & hiring.
This is the first time in India that the Edtech startup has bought 100% a recruitment and staffing solutions company. The deal will help both companies to tap each other's databases and through them manage full control over the life cycle of the learner- from education to employment.
UpGrad learners could seek Rekrut hiring network to find a suitable job. Professional courses offered on UpGrad will prepare students for a job market. Rekrut will help in finding suitable jobs. It has extensive networks of over 100 recruiters and works closely with several corporates, enterprises and MSMEs.
As if now, the Mumbai-based hiring firm will continue to work separately.
UpGrad believes there is massive potential in the recruitment sector, so hiring companies like Rekrut could chart their own growth opportunities. At present the recruitment sector is worth Rs 15,000 crores.
UpGrad has adopted a strategy to grow fast through mergers and acquisitions. Last month, it acquired another teaching platform, the Gate Academy, which is located in Bengaluru.
While UpGrad Co-founders are Ronnie Screwvala, Mayank Kumar, Rekrut Managing Founder is Ajay Shah.
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