CEO of Chinese job aggregator Boss Zhipin says it's IPO-ready

Boss Zhiping, the Chinese digital job listing platform, has recently reported possible intentions to go public after a over a year of encouraging profits according to CEO and Founder Zhao Peng. The announcement was made at the company’s 5th anniversary celebration event held recently in Beijing.

Why it’s important: In China, nearly 200 million people looked for jobs online in 2018, up 15.0% from a year earlier, according to a report from research institute iiMedia Research.

• Of the total, around 80% of job seekers prefer to use multiple online recruitment platforms to broaden the recruitment channels, according to the report.
• Factors including industry reforms, technology upgrades requiring more efficient hiring processes, policy support, and the rise of users born post-1990s have driven the adoption of online job recruitment.

“China’s 200 million white-collar workers change their jobs every 24 months and each job change takes two months. The country’s 400 million blue-collar workers change their jobs every six months and it takes them an average of two weeks to find a new job. If we can increase the matching efficiency by 20%, the time and manpower saved are equivalent to a whole year of work hours for 10 million people.”

— Zhao Peng, Boss Zhiping CEO

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