1/10/2018 – Ringier AG, a media company based in Switzerland has recently made an acquisition of Pyramid Solutions, the parent company behind Myanmar’s classified online job portal MyJobs.com.mm.
The acquisition is part of Ringier AG’s strategy in cooperation with its local partner information Matrix Co., to strengthen its foothold in publishing, directories, and classified businesses in the region.
Its present 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-digitized media company,” said Robin Lingg, the Head of International Marketplaces of Ringier AG.
With a presence across sixteen countries, Ringier AG specializes both in print and digital publications, as well as in digital businesses consisting of mobile and ecommerce services.
MyJobs.com.mm, on the other hand, has been the pioneer of online job classified listing in Myanmar. It started in 2012 when internet penetration in Myanmar was less than 1 percent and when most curriculum vitae were still collected manually in paper format.
Since then, MyJobs.com.mm has grown into one of the leading online destinations to find a job in Myanmar with close to 1.9 million people following the page on social media as of August 2018.
The platform also organizes the biggest job fairs in Yangon and Mandalay four times a year. Hundreds of large, small, international, and local companies, as well as non-governmental organizations, have found some of their finest employees through MyJobs.com.mm
“The people who work with MyJobs.com.mm serve the purpose of helping people and businesses in Myanmar to grow. We are helping hundreds of thousands of people every month to search for and find new jobs,” said Hans van Beek, the CEO of MyJobs.com.mm.
Today, MyJobs is facing an increasingly competitive market where it has to learn to differentiate itself from other job searching platforms such as JobNet, MyJobVilla, JobSeeker and more. Then again, having the backing of a Swiss media giant should give MyJobs significant leverage.
“Together with Ringier, we will form an ideal constellation of know-how and potential in Myanmar,” Hans said, hinting that the company is eager to build something big, innovative and of high-quality for Myanmar.
Commenting on the deal, Florent De Rocca-Serra, the General Manager of Ringier Asia said, “I am excited to welcome the entire MyJobs.com.mm team as part of our activities and to further shape the digital landscape in Myanmar.”
“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,” he added.
This news is published on Reuters.