Original title: 600 million marketing expenses were spent in the first quarter! BOSS hires directly to be listed, the magical slogan is too brainwashed! With a valuation of over 50 billion, Tencent laughed again?
BOSS direct hireThe pace of listing has accelerated.
After the prospectus was disclosed in May this year, the online recruitment platformBOSS direct hire(BZ) The prospectus was updated on June 4, with the proposed issuance of 48 million U.S. stock depositary shares (ADS) at a price of US$17-19 per ADS and approximately US$864 million to be raised. Calculated based on the median of the issue price range,BOSS direct hireThe fully diluted market value is US$8.2 billion (over 50 billion RMB).
The fundraising of BOSS direct recruitment will be used to increase investment in technology infrastructure and research for job search, upgrade artificial intelligence and other technical capabilities related to recruitment services; increase investment in new products and new services to serve more regions and Types of users, etc.
Launched listing in the U.S. in May
“Looking for a job, I want to talk to the boss.” With this super brainwashing slogan, the BOSS who became popular on the Internet was directly hired and officially launched to go public in the United States in May this year.
In the early morning of May 22, BOSS directly hired and formally submitted an initial public offering (IPO) application to the US Securities and Exchange Commission. BOSS Direct Employment was established in 2013. The core product is a mobile native platform. The direct employment model is based on the mobile terminal and intelligent matching, allowing job seekers to have direct online chats with enterprise users.If the listing goes well, BOSS’s direct employment will become a successorWorry-free future, Zhilian Recruitment and Liepin, the fourth listed Internet online recruitment platform in China.
As of March 31, 2021, BOSS directly hired 85.8 million certified job seekers, including white-collar users, gold-collar users, college students and blue-collar users; BOSS directly hired 13 million certified enterprise users and served 6.3 million certified companies.
For online recruitment platforms, the number of monthly actives (MAU) is a more critical indicator. According to the prospectus, as of March 2021, BOSS has directly hired 30.6 million monthly active users (MAU). The average MAU in 2020 is 19.98 million, a year-on-year increase of 73.2% compared to the MAU in 2019.
With the growth of MAU, the company’s paying corporate customers have also grown rapidly. From 2019 to 2020, the number of paying corporate customers directly hired by BOSS increased from 1.24 million to 2.23 million, an increase of 80.1% year-on-year. As of the 12 months before the end of March 2021, the number of paying corporate clients directly hired by BOSS has reached 2.89 million.
PerformanceIn terms of prospectus, in 2019 and 2020, BOSS directly hiredOperating incomeIn the first quarter of 2021, BOSS direct employment revenue reached 790 million yuan, a year-on-year increase of 179%.
While revenue continues to grow, the company continues to lose money. In 2019 and 2020, the adjusted net loss of BOSS direct employment will be 468 million yuan and 285 million yuan respectively. In the first quarter of 2021, the company’s adjusted net loss was 128 million yuan, a year-on-year decrease of 51.43%.
The study found that the company’s increased revenue but not increased profits are mainly related to high marketing expenses. In the first quarter of 2021, the company’s marketing expenses were 619 million yuan, a year-on-year increase of 64.28%, accounting for 78.44% of total revenue. It is worth noting that the company’s marketing expenses accounted for more than 60% in recent years.
Tencent and others are importantshareholder
Similar to many technology companies, BOSS directly employs the AB share structure of “same share with different rights”.
The prospectus shows that before the IPO, BOSS directly hired founder Zhao Peng to hold 100% of Class B shares. Director and CFO Zhang Yu, Director and Chief Marketing Officer Chen Xu, and Director and Chief Technology Officer Zhang Tao respectively held Class A shares. The shares shall not exceed 1% of the Class A shares.
It is worth noting that Tencent holds 12.2% of Class A shares through ImageFrame; Today Capital holds 14.7% of Class A shares through CTGEvergreen.
The prospectus shows that the intended investors of this public offering include UBSAM, GIC, Mubadala, Sequoia, TigerGlobal. The entry of well-known investment institutions means that the global capital market and investors are highly optimistic about the fast-growing Chinese talent service market, the new recruitment platform of BOSS direct recruitment, and the direct recruitment model consisting of “mobile + smart matching + direct chat” .
In fact, before listing, BOSS direct employment has been continuously favored by capital. As shown in the prospectus, the company has successively obtained multiple rounds of investments from Shunwei Capital, Today Capital, Tencent Investment, Gaorong Capital, Jiyuan Capital GGV, Sequoia Capital and other world-renowned powerful capitals known as market vanes. BOSS has directly hired a total of 3.875 billion yuan in financing in the past two years, making it the unicorn company with the largest amount of financing in the Internet recruitment industry during the same period.
Advertising sparks controversy
It is worth noting that BOSS direct recruitment is different from traditional recruitment websites in terms of its model. Its main purpose is to promote two-way interactions between job seekers and enterprise users, and it pays more attention to intelligent matching.
Zhao Peng, the founder of BOSS direct recruitment, once stated in public that traditional online recruitment uses a one-way model of job applicants uploading resumes and recruiters searching and downloading, resulting in a complicated and inefficient recruitment process, which is a major pain point in the industry. Therefore, in 2014, BOSS Direct Employment launched the “Direct Employment Model”, which allows job seekers and recruiters to achieve direct chat and interaction through the mobile app, helping both parties communicate efficiently. At the same time, through AI-driven intelligent matching, it improves users’ job search Recruitment efficiency.
BOSS Direct Employment pointed out in the prospectus that for a long time, SMEs and long-tail job seekers have not been able to enjoy proper job recruitment services. The company has a groundbreaking direct employment model, which has improved the efficiency of corporate recruitment and individual job hunting. The direct employment model takes the mobile terminal as the core and intelligent matching as the basis, allowing job seekers to have direct online chats with enterprise users.
At the same time, BOSS direct employment has always been known as “brainwashing advertising”. In the 2018 World Cup, BOSS directly hired a large number of advertisements, “Look for a job, get directly hired by the BOSS. Find a job, talk to the boss directly, get a promotion, and get a salary increase.” The slogan was repeatedly broadcast.
At present, the slogan of BOSS’s direct employment has changed from “Looking for a job, talk to the boss directly” to “Looking for a job, I want to talk to the boss”, and the core of the promotion is still “Talk to the boss.” However, there has been a lot of controversy surrounding the expression of “talk to the boss” for a long time.
In April of this year, some netizens issued a post questioning the slogan of BOSS’s direct hiring of “I want to talk to the boss for a job”. The netizen said: “Don’t you talk to the boss directly, why should you talk to the manpower?”
This response triggered a lot of discussion, and subsequently, the BOSS directly hired customer service to explain. The reply stated: The platform’s definition of BOSS is all people in the enterprise who are qualified to recruit, employ, determine a person’s salary and job content, and indicate that HR is also a member of the BOSS. It is worth noting that this reply cannot be found under the comment of the netizen at present.
(Article Source:BrokerageChina)
(Editor in charge: DF372)
Solemnly declare: The purpose of this information is to spread more information, and it has nothing to do with this stand.
.