Meridian Capital-Backed Zhipin.com Lands on Nasdaq
Zhipin.com, China's largest online recruitment platform, successfully went public on the Nasdaq on June 11, 2021, under the stock code BZ.
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Rhea-AI Summary
Zhipin.com, China's largest online recruitment platform, successfully went public on the Nasdaq on June 11, 2021, under the stock code BZ. The initial public offering (IPO) raised over USD1 billion by issuing 48 million American Depositary Shares (ADS), valuing the company at over USD8 billion. Meridian Capital, a key institutional investor, has supported Zhipin.com since its inception in 2014, helping it innovate recruitment processes and improve talent matching efficiency. The online recruitment market in China is projected to grow from RMB55.1 billion in 2020 to RMB223.4 billion in 2025 at a CAGR of 32.3%.
Positive
- Zhipin.com successfully raised over USD1 billion in its IPO, indicating strong market interest.
- The company's valuation exceeds USD8 billion, showcasing significant growth potential.
- Meridian Capital has been a long-term investor, indicating confidence in Zhipin.com's business model.
- The Chinese online recruitment market is projected to grow significantly, presenting opportunities for Zhipin.com.
Negative
- None.
Details
News Market Reaction – BZ
The recorded move for BZ in the trading session of this news was +196.65%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BEIJING, June 11, 2021 /PRNewswire/ -- On June 11, China's largest online recruitment platform, Zhipin.com, successfully listed on the Nasdaq Stock Exchange, with the stock code BZ. In this IPO, 48 million American Depositary Shares (ADS) were issued, and the total funds raised exceeded USD1 billion. The company's overall valuation exceeds USD8 billion.
Meridian Capital is an important institutional investor of Zhipin.com. After Zhipin.com's founding in 2014, an in-depth communication between Meridian Capital and Zhipin.com's founders started at the beginning of 2015, and by September of that year Meridian Capital had developed the investment framework and term sheet to become the company's lead investor in the first round of Series C funding.
Subsequently, Meridian Capital increased its investment in Series C2 financing, and has been helping and accompanying the growth of Zhipin.com for more than 6 years.
Ji Wei, the founding Managing Partner of Meridian Capital, said, Zhipin.com has subverted the traditional resume-centric recruitment mode, promoting the efficient connection between recruiters and job seekers, and greatly improving the efficiency of talent matching.
In this case, initially, Meridian Capital was also a user of Zhipin.com, and later became its investor.
Meridian Capital is a leading venture capital firm in China. Up to now, Meridian Capital has managed over RMB8.5 billion of capital and invested in more than 190 companies. Meridian Capital has continually been active in the digital economy space, especially with regard to technology empowerment enterprises.
In addition to Zhipin.com, Meridian Capital has also invested in industry leading companies including Weimob, Biren Technology, DeepBlue Technology, Joyou.com, Beagledata. Meridian Capital has acted as the lead investor for
From the statistical data it can be seen that Meridian has successfully exited from more than 40 portfolios either through an IPO or through M&A, and nearly two-thirds of the companies it has invested in have completed multiple subsequent rounds of financing.
In the future, there is still considerable room for growth for Zhipin.com. CIC research data shows that the scale of China's online recruitment market is expected to increase from RMB55.1 billion in 2020 to RMB223.4 billion in 2025, with a CAGR of
Contact: gloria.xiang@meridiancapital.com.cn
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SOURCE Meridian Capital
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