Categories: Edu-Hour

The Wisdom Jobs story: scaling from 40 Google group members to 28 Million job seekers

What started out as a Google group of 40 job seekers is now a jobs portal with nearly 28 million members. Wisdom jobs, started by Ajay Kolla, not only connects job seekers to employers, but also makes them take an online test called the Pragnya meter, to test their skills.

The Pragnya meter score is saved to the company’s database along with the candidate’s details, making it easier for employers to search for specific skills and qualifications. In a country where the number of unemployed people in India is expected to rise to 211 million by 2020, such a platform can play matchmaker.

Wisdom jobs was founded almost by accident, when Ajay started a small Google group named TSNV jobs to spread the information about jobs which are available in his network. There were around 40 members in the group, but as word spread, the posts in the group were forwarded to others and there were some hires as a result. Soon this small project became a proof that there is indeed demand for a platform connecting job seekers and employers. This led him to start Wisdom Jobs in Month/year?.

According to Ajay, 28 million registered jobseekers have taken the Pragnya meter test. The portal has had a growth  of 200% YOY in revenue generated since they started up in 2010 to the present financial year. From four employees, it has scaled up to 300 people and will escalate to 400 by the FY 2014-15. They expect revenue to double from Rs. 22 crore from the FY 2013-14 to Rs.44 crore for the FY 2014-15.

Wisdom Jobs has three sources of revenue as of now:

Resume Database Access: They have a database of around 28 million profiles with multiple skillsets, according to Ajay. Employers can subscribe to the database for a limited period of time to gain access to the profiles. There is a different subscription fee for different membership models.

Job Postings: Employers also have to subscribe to post job openings on the site.

Pragnya Meter Exam: The online assessment tool is another source of revenue for Wisdom jobs.

Talking about their USP, Ajay Says –

“The Pragnya meter tool is the USP of our brand and we have marketed our brand as a unique fourth generation job portal.  This has helped us to occupy a unique place in the market. Advertising and marketing plays a key role in the growth of Wisdom Jobs and in differentiating ourselves from other players. 60% of our entire budget is spent on marketing and advertising every year. “

Source: Your Story

Share

Recent Posts

Katchatheevu to Coco Islands, The Story of India’s Giveaways

The Katchatheevu island issue is back in the limelight after PM Modi mentioned it in…

2 months ago

Bengaluru’s Worsening Water Crisis Should be the Wake-Up Call for India and The World

Bengaluru is facing an acute shortage of 500 million litres of water every day, which…

2 months ago

The Aam Admi Party Conundrum: Will Kejriwal Run The Delhi Government From Prison?

Delhi's Chief Minister, Arvind Kejriwal, has been arrested by the Enforcement Directorate (ED) and will…

2 months ago

Planning to vote for Modi This Year? Wait! Give it a Read to Become an Informed Voter First

The Indian growth story has been famously dubbed the 'Amrit Kaal' by leaders and ministers…

2 months ago

Key Takeaways From Kovind Panel’s Report on One Nation One Election

The report highlights a two-step process in conducting nationwide simultaneous elections that needs many constitutional…

2 months ago

KWG Game: A Color Prediction Paradise for Indian Gamers

KWG Game has quickly become a hotspot for color prediction enthusiasts in India, offering a…

2 months ago