Both companies were equal partners in the portal; Redmatch will continue to provide services to Walla Jobs for a fee.
One year after the launch of Walla Jobs, the online employment site owed by Walla and Redmatch, Walla is acquiring the shares of Redmatch for 3.5 million shekels.
Redmatch and Walla were equal partners and each owned 50% of the portal. After purchasing Redmatch’s shares, Walla Jobs portal is now valued at 7 million shekels. Redmatch will continue to provide management services to Walla Jobs for a monthly fee.
Redmatch was founded in 2000 by Daniel Avidor, which is also the CEO of the company. The company develops technologies in the employment & placement field, and among its Israeli clients are: Manpower-IT (MIT) and the Israeli Defense Force (IDF). The company has also clients in many countries including India, Malaysia and Singapore. Redmatch operates in different business models including partnerships and revenue share. The company tends to join dominant job portals in different markets and creates a partnership with companies in the employment area.
In 2005, Redmatch joined MSN Israel, and this cooperation existed even after the acquisition of MSN Jobs by Walla, a year ago.
The business model of Walla Jobs portal connects between job seekers who pay a monthly fee, and companies who purchase advertising packages to post jobs and find candidates. The job seeker can view the posted jobs for free, but in order to apply for a specific job, a monthly fee of 24-39 shekels is requires.