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It wouldn't be wrong to say that finding a job in today's times is much easier than finding one decades ago. In the age of job-search platforms like <keyword id="19951562" type="General" weightage="20" keywordseo="LinkedIn" source="keywords" meta.keywordsubtype="org" meta.entityname="LinkedIn" meta.hostid="261" meta.entityid="LinkedIn">LinkedIn</keyword> and <keyword id="20120149" type="General" weightage="20" keywordseo="naukri-com" source="keywords">Naukri.com</keyword>, connecting with potential recruiters is easier. But, if you aren't careful of your actions online, they can do more harm than good. Something similar happened with a college students who disrespected a woman on LinkedIn. Later on, he found out that the same woman was his <keyword id="23157708" type="General" weightage="20" keywordseo="job-interviewer" source="keywords">job interviewer</keyword>. The story has been shared online and is going viral. <h2>What really happened</h2> The story of this unexpected twist of fate was shared by <keyword id="23157709" type="General" weightage="20" keywordseo="pranav-mehta" source="keywords">Pranav Mehta</keyword>, a <keyword id="19945384" type="General" weightage="20" keywordseo="software-engineer" source="keywords">software engineer</keyword> and founder of A Code Daily, on the <keyword id="19897919" type="General" weightage="20" keywordseo="social-media" source="keywords">social media</keyword> platform X. Mehta, who previously worked at <keyword id="19895622" type="General" weightage="20" keywordseo="Microsoft" source="keywords" meta.keywordsubtype="org" meta.entityname="Microsoft" meta.hostid="261" meta.entityid="Microsoft">Microsoft</keyword> and studied at IIT, shared the incident involving one of his female friends who works at a startup. According to Mehta's post, the student had approached his friend on LinkedIn a few weeks ago, asking for a referral for an SDE-1 (Software Development Engineer) position at her company. When she reviewed his resume, she felt it needed improvement and politely suggested that he work on it further before applying. However, instead of taking her feedback positively, the student reacted in an inappropriate manner. He began insulting the woman, dismissing her as a “diversity hire” and questioning her ability to advise him. "This guy started belittling and shaming her for being a "diversity hire", and that she wasn't capable of advising him," Mehta wrote. This unwarranted response not only displayed poor judgment but also a lack of respect for someone willing to help him improve his application. <h2>The twist of fate</h2>Despite this unpleasant interaction, the student eventually managed to secure a referral from another source and proceeded with the application process. But then something that he didn't see coming happened. When he sat down for his first round of <keyword id="20030377" type="General" weightage="20" keywordseo="interview" source="keywords">interview</keyword>, he found himself face-to-face with the very same woman he had insulted on LinkedIn. Mehta described how the student was visibly shaken when he realised the situation, saying, “Karma bites you back in ways you can't even fathom.” According to Mehta, his friend remained professional throughout the interview and did not let the past incident influence her assessment of his candidacy. However, the student’s initial bravado seemed to have vanished, replaced by nervousness as he faced the person he had earlier disrespected. This story is a stark reminder of the importance of maintaining professionalism and humility, especially in the age of social media. What you say online can have real-world consequences, and in the tight-knit tech industry, word travels fast. <div type="Article" hostid="261" msid="113242771" title="Our 2 sons moved to Europe for college. We quit our jobs and followed." mstype="2" mssubtype="0"></div><div type="Article" hostid="261" msid="113300694" title="I waited 5 years after undergrad to enroll in graduate school. Waiting made me a better student." mstype="2" mssubtype="0"></div>

College student insults woman on LinkedIn, she turns out to be his job interviewer later on

<ul><li><keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>’s top IT sector companies have reduced their headcount by 75,000 in the last one year.</li><li>New GCCs setting-up operations in India might have hired a similar number of <keyword id="19913553" type="General" weightage="20" keywordseo="tech" source="keywords">tech</keyword> talent, say experts.</li><li>Even with renewed hiring, IT sector hiring as a whole suffered even as software product company hiring went down in the last 12 months.</li><li>In 2024, hiring intent in the IT sector increased only 3%, even as overall hiring intent is at 19%, says Taggd. </li></ul>Headcount in the top IT services firms in India is down by 75,000 in the last one year. However, experts say that there is no large-scale furore over joblessness in the system due to the extensive hiring undertaken by global capability centers (GCCs). Many new GCCs are setting-up shop in India, which is giving a much-needed push to sluggish tech talent intake by IT services companies. Six out of eight IT bellwethers like TCS, Infosys, Wipro, LTI Mindtree, Cognizant and Tech Mahindra saw their headcount go down in the last 12 months, as per Xpheno, a staffing services company. HCL and LTTS however moderately added 2,400 and 1,600 people to their rolls. (See Table below). Top 8 IT cos headcount &amp; net additions as of Q3 FY24 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Headcount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12-month net additions </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,40,234 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21,875 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,22,663 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-24,182 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6,03,305 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10,669 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,24,756 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,486 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTI Mindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">82,471 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3,991 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTTS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,46,250 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10,812 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cognizant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,47,700 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7,600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,90,677 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-75,000 </td></tr></tbody></table> Source: Xpheno With this degrowth, collective headcount of the cohort has dropped to nearly the levels seen in early 2022. “The calendar year of 2024 too has begun with a rollback of headcounts to a pre-two year level, in what is clearly a cycle of sustained adversities the IT services cohort is dealing with,” said Kamal <keyword id="20519296" type="General" weightage="20" keywordseo="karanth" source="keywords">Karanth</keyword>, co-founder of Xpheno. GCCs: The bright spot It’s not just IT services companies are cutting down hiring, job demand in software companies saw massive drop along with startups. But there is one bright spot in the tech market which is GCCs. “GCCs had recruited similar numbers (around 60,000) in the last one year, and that’s why we do not see a bloodbath on the streets. Around 100-110 GCCs set-up shop in India in the last two years, and 60 of them came in the last one year itself,” Karanth tells Business Insider India. GCCs are international companies which set-up shop in India, which takes care of activities like business support functions, back-office tasks, IT infrastructure and more. Since they kick-off operations, most of them hire anywhere between 500-2,000 people. GCCs have now become one of the six top sectors which hire tech talent that includes IT services companies, software product companies, startups, consulting firms and non-tech sectors which hire tech talent. GCCs, IT services and software product companies are the three sectors which hire techies in large numbers “Among the three, only GCCs will continue to hire in 2024, while IT services and software product companies will see at least two muted quarters ahead,” says Karanth. Going by their enthusiastic uptake of office spaces, they seem to be intent on hiring in large numbers. As per a Colliers report, office space uptake of around 30 mn square feet with large deals (of over 100,000 sq ft) have shown an impressive 24% annual growth in 2023. Almost 40% of the large deals in the top six cities have come from GCCs, particularly from technology and BFSI sectors. “More than half of the large GCC deals achieved closure in the last quarter of 2023, indicating renewed momentum in GCC activity in the country. Large pool of talent, cost-effective rentals, adequate Grade A developments and favorable office market ecosystem will continue to uphold India’s vantage positioning from a capability centre perspective,” said <keyword id="20454099" type="General" weightage="20" keywordseo="vimal-nadar" source="keywords">Vimal Nadar</keyword>, senior director and head of research, Colliers India. Tech hiring to remain sluggish With only one of its sub-sectors keen on hiring, the IT sector’s recruitment outlook as a whole has come down. As per a report by Taggd, the IT sector’s hiring intent for 2024 increased by 3%. The overall hiring intent across all the sectors however increased 19% for the current calendar year. Job demand in the last 2 years <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 2024 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2-year change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,29,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Software Product </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,00,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-61% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Startups </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">44,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-73% </td></tr></tbody></table>Source: Xpheno The slowdown in IT hiring is pronounced in the earnings reports of recruitment firms as well. Info Edge which houses many internet-related businesses like <keyword id="20577913" type="General" weightage="20" keywordseo="naukri" source="keywords">Naukri</keyword>, 99acres.com etc saw its revenues from the recruitment grow only by 3.1% year-on-year in Q3 FY24 due to sluggishness in IT sector hiring. “While the non-IT hiring sector remained robust, the continued slowdown in IT hiring impacted Naukri's growth,” Hitesh Oberoi, managing director and CEO of Info Edge said in the press release. Most large IT sector companies are only expected to do replacement hiring for the next few quarters, with a dull outlook for most. The sector’s sluggish hiring will impact engineering graduates the most as fresher hiring will be impacted. “As many as 9 lakh engineering graduates pass out every year. They will see a major impact and see the biggest hit,” Karanth adds.

IT bellwethers slash headcount in FY24 but Indian techies find a home with GCCs

Naukri.com’s latest report reveals that 6 in 10 companies will be hiring in the next three months

The hiring activity in India's white-collar professional segment, remained steady in May and witnessed multi-sectoral growth across sectors such as real estate, banking, oil and gas and pharma, a report said on Thursday. According to the <keyword id="4078822" type="General" weightage="20" keywordseo="naukri-jobspeak-index" source="Orion">Naukri JobSpeak Index</keyword>, the job postings for <keyword id="15460574" type="General" weightage="20" keywordseo="white-collar-hiring" source="Orion">white collar hiring</keyword> in May 2023 was at 2,849, as against 2,863 in May 2022. The relatively flat growth in index masks strong divergence in hiring trends across different sectors and geographies, said the report. The Naukri JobSpeak Index is a monthly Index representing the state of the Indian job market and hiring activity based on new job listings and job-related searches by recruiters on the resume database of <keyword id="218117" type="General" weightage="20" keywordseo="Naukri-com" source="Orion">Naukri.com</keyword>. It said that while the oil and gas sector clearly emerged as a hiring hotspot with a remarkable 31 per cent increase in the new jobs compared to last year, the hiring activity in the IT sector stayed at 23 per cent below its level in May 2022. "The multi-sectoral growth in white-collar hiring across sectors such as real estate, banking, oil and gas and pharma reflect the evolving and diversified nature of the <keyword id="6356076" type="General" weightage="20" keywordseo="Indian-economy" source="Orion">Indian economy</keyword>." Naukri.com Chief Business Officer <keyword id="2554121" type="General" weightage="20" keywordseo="Pawan-Goyal" source="Orion">Pawan Goyal</keyword> said. The report further said that the IT industry hiring remained an area of concern. "The decline in hiring was witnessed across all types of IT companies including global tech giants, large IT services companies, tech-focused startups, and unicorns," said the report. Cities with heavy presence of IT-focused companies, such as Bengaluru, Hyderabad, Chennai and Pune, were the hardest hit. Notwithstanding these challenges, niche roles such as Machine Learning Engineers and Big Data Engineers showed positive hiring trends, bucking the negative trend across most other tech roles. Besides IT, sectors such as retail, education, insurance, and BPO also showed cautious hiring sentiments with a dip of 21 per cent, 16 per cent, 15 per cent and 14 per cent, respectively, in hiring trends during May compared to the corresponding month in 2022. In contrast, the real estate and banking sectors continued to show positive hiring sentiments, registering 22 per cent and 14 per cent growth in hiring activities, respectively, compared to May last year. The Pharma sector emerged as another bright spot, recording a respectable 11% growth in hiring activity compared to May last year, the report said adding that automobiles and hospitality were some of the other sectors witnessing positive hiring sentiments with 10 per cent and 8 per cent growth in the new jobs created compared to a year-ago. Non-metro cities emerged as new hiring trendsetters, led by Ahmedabad, Vadodara, and Jaipur primarily driven by banking and auto sectors. On the other hand, hiring activity stayed flat or declined marginally in large metros, except Mumbai and Delhi. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/louis-vuittons-fall-is-elon-musks-gain-tesla-owner-reclaims-top-spot-in-richest-list/articleshow/100673138.cms">Louis Vuitton's fall is Elon Musk's gain — Tesla owner reclaims top spot in richest list</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/toyota-reports-highest-ever-monthly-sales-in-may-at-20410-units/articleshow/100672447.cms">Toyota reports highest-ever monthly sales in May at 20,410 units</a>

White collar hiring activity flat in May, IT sector's woes continue: Report

<keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> (India) Ltd on Monday said it will invest about Rs 37.10 crore in <keyword id="8760722" type="UNKNOWN" weightage="20" keywordseo="sunrise-mentors">Sunrise Mentors</keyword> Pvt Ltd that operates e-learning platform Coding Ninjas. "The company has agreed to acquire shares for an aggregate amount of about Rs 37.10 crore (for a cash consideration) via a mix of primary and secondary purchase of shares," Info Edge said in a regulatory filing. The firm's aggregate shareholding, post this investment, in Sunrise would be 25 per cent on a fully converted and diluted basis, it added. Set up in May 2016, Sunrise primarily sells short-term to mid-term courses in programming and data sciences created by the in-house team. These courses are primarily availed by job seekers looking to upskill and reskill themselves. Recently, Sunrise also launched a new programme called Coding Ninjas Career Camp, which instead of charging students upfront for the courses, charges them after successfully placing them. Sunrise had a turnover of Rs 5.57 crore as on March 31, 2019. SR HRS

Info Edge to invest ₹37 crore in e-learning platform Sunrise Mentors

<ul><li>Shares of <keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> (India) Limited reached ₹6,692 at 11:56 a.m. on September 8.</li><li>The development coincides with ICICI Securities issuing a buy call on Info Edge (India) with a target price of ₹8,040.</li><li>The analyst expects increase in hiring, real estate rentals and wedding trends to fill Info Edge’s pockets in the near term.</li></ul>Sanjeev Bikhchandani-led Info Edge’s shares reached ₹6,692 at 11:56 a.m. This represents an increase of ₹509 in value compared to the previous close of ₹6,183 on September 7. Over the last one month, Info Edge’s share price has increased by 23%. Each share was valued at ₹5,368 on August 9 compared to ₹6,692 at 11:56 a.m. The development comes as ICICI Securities has issued a buy call on Info Edge (India) with a target price of ₹8,040 today. The analyst expects the share to reach the target price in a span of one year. The analyst had issued a similar buy call in June with a target price of ₹6,300. ICICI Securities have now revised the target as <keyword id="6740899" type="General" weightage="20" keywordseo="info-edge-shares" source="Orion">Info Edge shares</keyword> have crossed the said target. In its latest report on Info Edge, ICICI Securities has elaborated on the strong points that would lead the company’s stock price to increase. The broking house has also revised the estimated valuations of Info Edge and its subsidiaries. “We value Naukri at 75x [times] financial year 2023 estimates earnings per share. We value 99 Acres and Jeevansathi [Info Edge’s subsidiaries] each at 20x FY 2023 estimated sales. As elaborated in our report, our 1-year forward valuation of Zomato [a portfolio company of Info Edge] stands at $22 billion.” <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032580" hostid="261"></div> Meanwhile, Info Edge’s portfolio companies — Zomato and Info Edge — are also moving away from the ‘startup’ tag to a maturity stage. Zomato has already hit the public market and bought over <a href="https://www.businessinsider.in/stock-market/news/info-edges-remaining-stake-in-zomato-is-worth-15000-crore/articleshow/84668883.cms">₹15,000 crore</a> in return for Info Edge, PolicyBazaar has filed <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">preliminary papers</a> to go public soon. Further Info Edge invested in another <a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms">initial public offering (IPO)</a>-bound company ixigo in July. Key points working in favour of Info Edge <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032598" hostid="261"></div> Strong hiring could benefit Naukri.com Trends in other markets like the US, which publish job market data periodically, hint towards a significant demand-supply mismatch when it comes to hiring. In India, entrepreneurship, preference to work in startups and flexibility of workplace are going to be biggest drivers of this demand-supply mismatch in hiring, as per ICICI Securities. This is likely to benefit job search platforms like Naukri.com for the next 12-18 months. Vibrant job market will push more people to move out ICICI Securities in its latest report noted that several new trends have emerged in the proptech segment — low interest rate, strong pipeline, print to online shift in advertising, recent direct-to-customer (D2C) approach taken by builders to drive traction in online real estate classifieds. The brokerage firm predicted the spike in paid listing going ahead, which will enable Info Edge-owned 99acre.com’s EBITDA [earnings before interest, taxes, depreciation, and amortisation] profitability to exceed the street estimates. ICICI Securities, however, also noted that competitive intensity is one of the key reasons for the suboptimal profitability in this segment for Info Edge. Besides this, the decline of funding in the real estate segment is also pushing Info Edge’s competition to reduce cash burn. “Nevertheless, the full stack aspirations of competitors like Square Yards is a key risk to watch out for,” the report added. Matchmaking is back on the table Easing of lockdown restrictions and best-in-a-decade job security will encourage more people to look for their partners on matchmaking platforms. ICICI Securities is anticipating a sharp increase in paid listings in the near term to also drive EBITDA profitability, in FY23. This will be a surprise to the current street expectation, the ICICI Securities added. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-policybazaar-investor-info-edge-invested-in-nearly-2-startups-every-month-in-2021/articleshow/86028438.cms">Zomato, PolicyBazaar investor Info Edge invested in nearly 2 startups every month in 2021</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-bags-another-150-million-to-fund-its-acquisition-spree/articleshow/86027937.cms">Byju’s bags another $150 million to fund its acquisition spree</a> <a href="https://www.businessinsider.in/business/startups/news/zoho-corp-invests-5-million-in-medical-devices-startup-voxelgrids/articleshow/86000656.cms">Zoho Corp invests $5 million in medical devices startup Voxelgrids</a>

Here is why Naukri parent Info Edge’s stock went up 23% in the last one month

New Delhi, Jan 25 () Sanjeev Bikhchandani, founder and vice-chairman of Naukri.com, India's leading job site, was on Saturday conferred with Padma Shri, one of the highest civilian awards.
According to a home ministry statement, Bikhchandani has been given Padma Shri in the category of trade and industry.
His company also runs Jeevansathi.com, 99acres.com, and Shiksha.com. In addition, it has made strategic investments in promising web start-ups such as Zomato, Policybazaar, Shopkirana and Ustraa.
He graduated from IIM Ahmedabad in 1989.
Starting off from a servant quarter above a garage and seed capital of two thousand rupees, the entrepreneur's company grew and attracted investments from leading global venture capitalists.
It was the first Internet company to list on Indian stock exchanges. Today, the company employs over 4,000 people and has a market capitalisation of over USD 4.5 billion.
Bikhchandani is also the founding trustee of Ashoka University. ACB RHL

Naukri.com founder gets Padma Shri

<ul><li><keyword id="3401632" type="PERSON" weightage="20" keywordseo="InfoEdge">InfoEdge</keyword> has acquired Highorbit Careers Pvt. Ltd which runs <keyword id="2597894" type="PERSON" weightage="20" keywordseo="IIMJobs">iimjobs</keyword> and hirist.com in a deal worth ₹808.1 million. </li><li><keyword id="79563" type="COMPANY" weightage="20" keywordseo="Naukri">Naukri</keyword> has more than 475,000 jobs on its platform at any given point and has more than 60 million registered job seekers on its platform.</li><li>InfoEdge runs Naukri.com, jeevansathi.com, 99acres.com and shiksha.com was one of India’s early startups to head for an IPO. </li></ul>One of India’s earliest internet companies InfoEdge, which runs the country’s oldest and biggest recruitment portals like Naukri.com, has acquired Highorbit Careers Pvt. Ltd which runs iimjobs and hirist.com. “In India, internet businesses are just starting. We continue to look for good opportunities outside to invest for our internal businesses to grow,” Hitesh Oberoi, Co-Promoter, MD and CEO, InfoEdge had told Business Insider. InfoEdge will be acquiring 100% of Highorbit Careers Pvt. Ltd in a deal worth ₹808.1 million. Naukri has more than 475,000 jobs on its platform, along with more than 60 million registered jobseekers. With products such as Resume Database Access, Job Postings and Response Management Tool for over 76,000 corporate clients, the portal has a traffic share of over 70%. iimjobs, which was founded in 2010, has 23,000 job postings with 1.8 million job seekers every month. In 2016, iimjobs had raised funding worth $2 million from India Quotient, an early stage investment firm. According to <a href="https://inc42.com/features/the-128-startups-that-raised-funding-from-the-dipps-fund-of-funds/">reports,</a> iimjobs had also raised funding from Department for Promotion of Industry and Internal Trade. “iimjobs has managed to carve a niche for itself and has built a great brand in the premium jobseeker community. Its value proposition strongly complements Naukri’s proposition to its customers,” said Oberoi. InfoEdge, which runs Naukri.com, jeevansathi.com, 99acres.com and shiksha.com, was one of India’s early startups to head for an IPO. See Also: <a href="https://www.businessinsider.in/ibm-watson-to-mentor-indian-women-in-emerging-tech/articleshow/68385820.cms">IBM’s AI platform Watson to mentor over a million Indian women for ‘new collar’ jobs</a>

Naukri.com parent InfoEdge acquires rival portal iimjobs for ₹808.1 million

<ul><li>Chartered Accountant (CA) is one of the most sought after job role in India, thanks to its attractive salaries. </li><li>There are some 2.82 lakh CAs in India — and only 1.25 lakh are actively on the job. </li><li>As on September 2019, there have been as many as 1,09,980 <keyword id="8379980" type="UNKNOWN" weightage="20" keywordseo="chartered-accountant-jobs">chartered accountant jobs</keyword> roles listed on job search platforms — Naukri, Indeed, Monster and LinkedIn.</li></ul>Chartered Accountants (CA) are one of the most sought after professionals in India, thanks to its attractive salaries. A chartered accountant looks after the accounts, taxes, auditing and budgeting of a company. Accountancy firms, consultancies and institutions employ CAs. As more startups and businesses are establishing across industries, the demand for CAs has been rising. There are 2.82 lakh CAs in India — and only 1.25 lakh (44%) of them actively pursue this profession, according to a TOI report. As on September 2019, there have been as many as 1,09,980 chartered accountant jobs listed on job search platforms — Naukri, Indeed, Monster and LinkedIn. The jobs pan across auditing, tax management, cost and financial <keyword id="6359983" type="UNKNOWN" weightage="20" keywordseo="Accounting">accounting</keyword>. According to<a href="https://www.naukri.com/blog/what-is-chartered-accountancy-and-how-to-become-a-chartered-accountant/"> job search platform </a><keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, the average salary of a chartered accountant in India is over ₹7 lakh per annum. But experienced CAs tend to make as much as ₹25 lakh per annum. Here are the skills that can help CAs land a high-paying job. Financial Accounting A CA’s job includes budgeting, preparing income statements and maintaining cash flows. For this, it is important to study how investments are recorded. Online courses in accounting incorporate case studies and tools that allow learners to prepare financial statements and factsheets. They also need to know how to gather information and maintain records, as a part of their fiduciary duties. <keyword id="492700" type="ORGANIZATION" weightage="20" keywordseo="Microsoft-Excel">Microsoft Excel</keyword> Mastering Excel is extremely important for CA’s. Apart from the basic usage, CAs will also have to use it for analytics. Calculating taxes and formulas can be sorted with other Microsoft tools as well. Some institutions have also mandated training on Excel and Information Technology. Analytics Chartered Accountants are required to study analytics and investments for business. This includes quantitative analysis, statistics and data processing. Calculations and analysis of a wide array of data points is core to budgeting. Strong Communication Communication skills form the basis of any career. In case of chartered accountants, communication with clients and conducting board meetings requires soft skills. They need to present data in a way that is easily understandable and make a point clearly. Given that, Institute of Chartered Accountants of India (ICAI) has also been conducting training on communication and analytical skills including skills around general management. Commercial Awareness Understanding the business and keeping up with trends in the industry is a much required skill in this sector. Commercial awareness is important to measure business trends and map their budgeting and forecast financial markets as per changing environment.

Master these skills to become a successful CA and earn over ₹7 lakh per annum

<ul><li>InfoEdge’s net revenue grew to ₹316.6 crore from ₹265 crore in the same quarter previous year. </li><li>The revenue push came in from its <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> aggregator platform <keyword id="1336736" type="PERSON" weightage="20" keywordseo="99acres">99acres</keyword>.com.</li></ul>One of India’s first internet companies InfoEdge reported a 19.5% jump in net revenues in the second quarter to ₹316.6 crore from ₹265 crore in the same quarter previous year, thanks to its real estate aggregator platform 99acres.com. “We continue to witness strong quarterly operational performance in terms of billing, revenue, total income and operating EBITDA growth, which are in high teens on year-on-year basis, supported by 99acres which grew over 20% in terms of billing and revenue during the quarter on a year-on-year basis,” said Chintan Thakkar, chief financial officer of InfoEdge. Thakkar spoke to Business Insider to share how the revenues on 99acres, in spite of an economic slowdown. “99acres has been consistently growing in the last six quarters. The last quarter we grew by 19%,” he said. The real estate aggregator business is divided into two parts – the first being the developers and businesses about new projects and the second one being resale retail. The second aspect has been the one to turn the story around for 99acres. “The growth could be because of the velocity of transactions – if there are more and more transactions in the market the business goes up. There are more green shoots around resale rental business and that is helping brokers with a good return on investment, which in turn helps our business,” said Thakkar. The company’s net profits also fell by 88% due to an exceptional item – impairment in a company called Meritnations due to gap in valuation. However, Thakkar informs us that there actually has been a 31.4% jump in profit margin. Along with 99acres.com, <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> is the parent company for popular sites like <keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, JeevanSathi.com, and Shiksha.com. On the Naukri portal, they have over 60 million resumes, half a million recruiters and over 13-14 lakh applicants for jobs. The company also invests in startups and was also an early investor in the foodtech unicorn Zomato. Info Edge also recently invested ₹21 crore in edutech platform Adda247 and ₹5 crores in real estate startup Terralytics Analysis. See Also: <a href="https://www.businessinsider.in/naukri-jobs-is-using-artificial-intelligence-to-take-on-linkedin/articleshow/69751271.cms">An Indian internet company older than Google is using Artificial Intelligence to reinvent itself</a>

Info Edge’s revenues jump 19.5% on the back of increased transactions on 99acres

<ul><li>In an interview with Business Insider, <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> CEO Hitesh Oberoi talks about how they are innovating at <keyword id="79563" type="COMPANY" weightage="20" keywordseo="Naukri">Naukri</keyword> with Artificial Intelligence and Machine Learning.</li><li>Info Edge runs Naukri.com, JeevanSathi.com, 99acres.com, and Shiksha.com. </li><li>On the Naukri portal, they have over 60 million resumes, half a million recruiters and any given day, over 13-14 lakh applicants for <keyword id="11018" type="COMPANY" weightage="20" keywordseo="Jobs">jobs</keyword>.</li></ul>In 1997, before <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword> came into being, an Indian internet company called Info Edge launched Naukri.com, which remained a hugely popular jobs portal for over a decade. However, the time has come now to upgrade itself for the next internet era and to take on the likes of LinkedIn, which have become successful in their own right. In an interview with Business Insider, Info Edge CEO Hitesh Oberoi spoke about how Naukri.com will evolve from being just a jobs portal to a careers platform and how they are working on the current big trend with Artificial Intelligence, Machine Learning and Big Data. Building on the new trend Today, it’s the new trend that’s taking over the world by storm – technologies like Artificial Intelligence, Machine Learning, Big Data. And this one Naukri doesn’t want to pass out on. “The truth is every time you figure out these trends, they take your business to the new level. We are trying to invest substantially into these areas,” said Oberoi. Naukri’s clients – the recruiters have long had the problem of spam. For one job listing, there are thousands of applicants. And here’s where AI, ML and data science will take over. “We are sitting on tons of data. So much can be done, from matching applicants to jobs, user experience, giving them advice/suggestions, identifying hot skills – everything can be determined with AI and ML. We can transform Naukri from being a jobs portal to a careers platform,” said Oberoi. The Naukri portal has over 60 million resumes, half a million recruiters. On any given day, they have over 1.3-1.4 million jobs applicants use the site, according to the company. #Throwback The company that went public within 9 years of its formation, has survived all the big waves the internet industry has seen – Search, social networking and mobile. The internet as we know today has exploded over the past 20 years and has given birth to several different giant entities like the social media. But Info Edge came about when nobody understood what the internet was but the founders knew – jobs were the key. Over the years, Oberoi says there have been multiple waves that have hit the industry and each one brings with it a challenge as well as an opportunity. Discovering Search “When we there was no Google. In 2002, we launched a database product (which today is over 65% of our revenue) but didn’t exist when we got funded. We were trailing our competitors with respect to the number of CVs on our platform. Advertising in the newspaper wasn’t working for us,” said Oberoi. It was then that Google became big and suddenly a lot of traffic was out there. “We started search engine marketing in 2003. We were advertising on millions of keywords on Google, there was nobody else back then and it was a bidding model. We put all our resources on Google,” he said. And within two months, they were getting an extra 400 CVs a day. “That’s how we capitalized on the search wave,” he said. The networking era The next wave that hit them was the social media wave. LinkedIn, which was founded in 2002, jumped on the networking train and became a social media giant of its own. However, Naukri failed to work around it. “We were unable to figure out how to use it to our benefit. LinkedIn got there first. What you need to understand is that the trick lies in figuring it out before the others do,” said Oberoi. Going mobile Oberoi lists the next wave of internet revolution to be the mobile generation and this one he said they figured out fast and right. “We realised what works on the desktop doesn’t work on the mobile. Today, 80% of Naukri traffic comes from mobile and when it comes to Jeevan Saathi, it’s 90%,” he said. Other investments Info Edge also has other successful portals JeevanSathi.com (a matrimonials site), a real estate listings platform called 99acres.com, and education platform Shiksha.com. Over the years, they have been investing money into companies that can add on to their in-house businesses. Naukri had acquired consultancy firm Toostep in 2012, <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword> startup Ambition Box two years ago, and in May 2019, it acquired rival iimjobs.com. And they have a plan through all of it. They want to use data to give insights to job seekers on how they can improve their prospects, to produce new products – an insight platforms for recruiters, to going beyond sourcing and building a holistic platform which includes shortlisting of candidates, scheduling interviews and more. They already have a product – Naukri Recruitment Management System. “Increasingly, all our investments are in the AI, ML space,” said Oberoi. See Also: <a href="https://www.businessinsider.in/automation-will-affect-women-the-most-in-the-indian-job-market-report/articleshow/69674101.cms">Automation will affect women the most in the Indian job market: Report</a>

An Indian internet company older than Google is using Artificial Intelligence to reinvent itself

New Delhi, Jan 24 () Sanjeev Bikhchandani-led Info Edge, which owns and operates India's largest online job portal Naukri.com, has created a Rs 750 crore war chest for its maiden venture capital fund to invest in tech start-ups.
 Noida-based Info Edge on Thursday informed stock exchanges that it has set up Info Edge Venture Fund (IEVF) to invest in "tech and tech-enabled entities that provide technology to create, market and distribute innovative products and services that benefit consumers at large."
 While the filing put the contribution in the new fund at Rs 100 crore, sources in the company said what is being mentioned is just the initial amount and the planned fund size is Rs 750 crore.
 Further contributions will be made into the Fund as investment opportunities are identified, they said, adding that the company management expects internal accruals from operations will be more than adequate for this purpose.
 Info Edge, by setting up its own investment vehicle, joins the likes of home-grown technology titans Infosys and Wipro. Most other large Indian corporates have primarily preferred to invest from their respective balance sheets.
 While Wipro through its strategic investment arm Wipro Ventures has closed its second investment fund - the USD 150 million Fund-II, Infosys - that launched its Innovation Fund in 2015, has invested in multiple startups.
 On Thursday, Info Edge announced an investment of Rs 100 crore into a Category II AIF Info Edge Venture Fund sponsored by its wholly-owned subsidiary Smartweb Internet Services Ltd. This had led to some speculation that Info Edge has set up a 100 crore VC fund for investment in tech start-ups.
 Sources said Rs 100 crore was only the initial capital and the corpus was as large as Rs 750 crore.
 In the last three years, Info Edge has invested around Rs 800 crore in external start-ups, either directly or through its wholly-owned subsidiaries, and the investing activity is likely to continue at the same rate.
 The Info Edge external investing programme is widely regarded as a success by both shareholders and the start-up community.
 It has been a prolific investor in India's startup ecosystem, having backed companies, which have since then, emerged as some of the country's most richly-valued ventures, such as food delivery and restaurant recommendation company Zomato, and online insurance aggregator PolicyBazaar, both of which are in the fabled unicorn club.
 Being the first investor in unicorns like Zomato and Policybazaar, it continues to be a meaningful shareholder in them. 
 Sources said as the investing activity has grown, the company felt the need to create an AIF through which investments would be made. This investment vehicle is a preferred route for a number of reasons, they said.
 First, it would be more entrepreneur-friendly from a compliance, regulatory and angel tax perspective. Second, it would bring increased rigour and discipline into the Company's investment strategy. Third, it would bring more focus on the exit strategy. Fourth it would provide a structure where the company can attract and retain the best talent for VC investing through alignment of interests.
 Sources also clarified that Info Edge Ventures will focus on making financial investments into start-ups. Strategic investments into start-ups in the jobs, real estate, matrimony, and education classified space will continue to be made directly through the parent Info Edge and its subsidiaries, as will acquisitions and any follow-up investments in existing portfolio companies.
 The team managing new Investments at Info Edge Ventures will continue to manage the existing financial investment portfolio as well. And the team managing strategic investments (non-financial investments) shall remain the same as earlier. ANZ ANZ MR
MR

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