Ringier AG acquired the startup through a cooperation with its local partner Information Matrix

Pyramid Solutions, the parent company of Myanmar job portal MyJobs.com.mm, has been acquired by Swiss media company Ringier AG, through a cooperation with its local partner Information Matrix.

The acquisition is part of Ringier AG’s strategy to strengthen its foothold in publishing and marketplace businesses in the region. Currently, its portfolio includes other Myanmar-based companies such as news & entertainment platform Duwun.com.mm, wedding services platform Marry.com.mm, and mother resource platform Kalay.com.mm.

“We are going to continue to further strengthen Ringier’s footprint in digital publishing and marketplaces in Asia and to shape Ringier to a well digitszed media company, said Robin Lingg, Head of International Marketplaces of Ringier AG, in an official press statement.

Founded in 2012, a time when internet penetration in Myanmar was still low, MyJobs is one of the pioneering startups in the country. It is helping companies search for potential candidates more efficiently through online job listings.

MyJobs also organises job fairs in Yangon and Mandalay four times a year. To date, the company has over 1.9 million followers on social media, and has over 4,300 active listings on its platform.

Also Read: Indonesian e-commerce site Bukalapak launches e-wallet feature BukaDana

“We will fully leverage our local market knowledge and assets we have built locally over the last few years, together with our international expertise in Job classifieds to further add-value to the good work the MyJobs.com.mm team has done so far,” said Florent De Rocca-Serra, General Manager of Ringier Asia.

While MyJobs was established when the internet landscape in Myanmar was still nascent, today’s trends paint a completely different picture: the proliferation of smartphone and the accessibility of data and SIM cards have led to a significant jump in the number of Burmese coming online for the first time.

And that has also galvanised many entrepreneurs to leverage on this booming industry. Many startups, including those in the classifieds space, have been vying for a piece of the pie. Today, MyJobs is facing an increasingly competitive market — it has to learn to differentiate itself from other platforms such as JobNet, MyJobVilla, JobSeeker and more. But having the backing of a Swiss media giant backing should give MyJobs significant leverage.

—
Image Credit: MyJobs.com.mm

The post Myanmar job portal MyJobs.com.mm has been acquired by Swiss media group Ringier AG appeared first on e27.