HT Media has acquired 40 per cent stake in MyParichay, an online recruitment business.
J. Sagar Associates advised HT Media with a team led by Partner Shivpriya Nanda along with Senior Associate Sujoy Bhatia, Associate Zain Pandit and Trainee Associate Aneesha Tawakley.
PXV Law Partners advised MyParichay with a team led by Bangalore Partner Kartik Ravichander.
HT Media will acquire equity shares from MyParichay’s existing promoters and by subscription of CCPS in MyParichay in three separate tranches over the next two years.
The acquisition of stake by HT Media in MyParichay will augment HT Media’s existing portal (www.shine.com) in the online recruitment space, which was launched in 2008. It has crossed the 70 lakh candidate landmark and has more than 40,000 jobs on site.
Founded by Ranjan Sinha and Vivek Sinha in December 2011, MyParichay has built an entire social network within Facebook that allows members to apply for jobs, companies to recruit, and employees to refer friends for internal job postings.
MyParichay claims to allow users search over 2 million jobs across job sites, company pages and various online sources. Among its clientele include Genpact, Kotak Life Insurance, People Strong, Quattro, and Summit HR, reports Dealcurry.