Jobstore Group Limited (ASX:JOB) CEO and founder, Anson Wang and Chairman, Alan Beasley talk about the recruitment company’s platform, business model, use of AI, and its IPO and listing on the ASX.
Jessica Amir: Welcome to the Finance News Network. I'm Jessica Amir. With me today is soon-to-list company, Jobstore (ASX:JOB) founder and CEO Anson Wang, and chairman, Alan Beasley. Gentlemen, welcome to FNN.
Alan Beasley: Thank you, Jessica.
Anson Wang: Thank you, Jessica.
Jessica Amir: First up to you, Anson, just give us an introduction to Jobstore, and tell us why you're so unique.
Anson Wang: Jobstore (ASX:JOB) is artificial intelligence company focused on human resource industry. Currently we have operations in Malaysia, Singapore and Australia. We have partnered with a number of big names in the market, including LinkedIn, Indeed, Glassdoor and some other names in different countries. We have clients across more than ten different countries including Australia, Singapore and Malaysia, US, UK, Hong Kong, China and a few other countries. We founded in 2015 and we hope that we have a big growth in Australia.
Jessica Amir: Thanks Anson. Now to more detail on your key product streams, starting with a talent-sourcing platform.
Anson Wang: When we started Jobstore, we noticed that clients posting jobs on multiple platforms is difficult, so when we started the talent-sourcing platform we helped clients to post jobs on up to 50 job sites. When client posts a job with Jobstore, the system will distribute to 50 job sites and we work together with a number of clients across ten different countries, for example Singapore Airlines, Malaysia Airlines and Australian High Commissions. We help clients to save up to 75 per cent of the cost and time on hiring.
Jessica Amir: Thanks Anson. Now to the human capital management platform.
Anson Wang: The human capital management software is fully developed using artificial intelligence technology. Modules including resource planning, recruitment, compensation and payroll, training, and corporations. The software helps the companies to manage their internal resource for hiring. It also helps companies to do projection on the payroll and compensation payment. The software gives the companies the best tools to manage their internal resource on the employee expenditures, and give the best in maximum returns.
Jessica Amir: Anson, now to financials. Since you started the company 3 years ago you've already had success, but what are the highlights?
Anson Wang: Business is doing fantastic. We have grown more than 200 per cent every single year, and we have served more than 6,000 clients across ten different countries, and we have established our business in Malaysia, Singapore, and Australia. We're looking forward, we can grow much bigger in Australia.
Jessica Amir: Alan, over to you now, to the IPO and strategy. First up, how much are you planning to raise, and how will the funds be used?
Alan Beasley: We're planning to raise around $6.6 million as a minimum, and possibly up to $8 million, and most of those funds will be invested in R&D and growth in Australia. We've had significant interest expressed for the offer. It's at 20 cents a share. We're seeking to raise up to $8 million. Most of that money will be reinvested in R&D and in growth in Australia. The offer is open until November 13, or until we've achieved the $8 million raised, and investors can download the prospectus from our website, CAGC, the lead manager, or speak with their own stockbroker.
Jessica Amir: And lastly to you both, gentlemen, what's your focus for the next 12 months, and longer term?
Alan Beasley: Well, post IPO, we will direct those funds to growth, particularly in Australia, and to R&D. That will see us, we believe, become one of the leading providers of software to the HR industry in the region.
Anson Wang: We have a fantastic team. We have a fantastic product. We believe we will have a fantastic growth.
Jessica Amir: Wonderful. Anson Wang, Alan Beasley, thanks for your time, and good luck with the IPO.
Alan Beasley: Thanks, Jessica.
Anson Wang: Thanks, Jessica.