LaowaiCareer is raising $900,000 with a minimum reservation of $10,000. Numbers displayed include non-binding reservations before investors are verified, signed, or closed.
We build easy-to-use and affordable platform for companies in China to hire international talent. With over 300 paying customers and $100K after 6 months in revenue, we're ready to scale up.
Successfully raise seed investment of $100,000 from IEWIE.February, 2016
Launch of the LaowaiCareer Job PlatformMay, 2016
100 Companies and 10000 job seekers registeredJuly, 2016
700 niche related articles posted and 1 edition of LaowaiCareer magazine releasedAugust, 2016
$100,000 revenue reachedJanuary, 2017
Our market segments are divided into the following: 1) Education 32% 2) IT 28% 3) Marketing/Business 16% 4) Other industries 24% Currently, the most urgent need to hire foreigners is among education providers and online-based educational platforms. Some are looking to hire just a few teachers while others are hiring thousands. According to our research, this is a 520 million dollar industry. During the early stages of our research, 99% of the schools contacted (more than 100 schools) let us know that the current online platforms they are using can't deliver enough results. That is why on our side we made a strategic decision to prioritize business development in that area. We estimate that among all 260,000 educational units in China, each one is spending $2,000 annually on recruitment ads. Our next market segment we would like to highlight is the IT industry. According to our research, there are 230,000 IT companies in China which make IT the fastest growing industry in China.
There are very few tools available to companies and institutions in China seeking to hire international talent. None of the existing competitors in this market (both local and international) can provide a solution that can bring high-quality traffic, pre-filter, and be scalable all at the same time. Yes, those existing solutions are quite cheap, but for the majority of companies in China, the cost is not the main problem. Speed and efficiency are the most important, as well as getting qualified applicants in the amount of time that none of the existing solutions can currently provide. This results in companies paying for too many different platforms and third party recruiters, which in most cases requires significant budgets, and are unable to deliver enough applicants. Currently, there is no one-stop solution to fit all of the paid costumers, and the majority of the most famous international job boards prefer not to work with the companies and institutions based in China.
We are located in the heart of Beijing Silicon Valley - Haidian District, China.