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Japanese staffing giant Recruit Holdings Co. has made a significant investment in Snapdeal, India’s largest online shopping site. Along with eBay, Recruit is now one of the main investors in Snapdeal with the funding estimated to range between USD 30 million and USD 50 million, according to the Economic Times.
Tokyo-headquartered Recruit Holdings is among the largest staffing firms in the world and a market leader in its native Japan. The multi-billion dollar company is one of the biggest privately-listed firms in the country.
Earlier this year, the company announced plans to accelerate its overseas business. In 2012, the staffing company acquired US recruiter Advantage Resourcing America (ARA) in the United States and Advantage Resourcing Europe, giving it a stronger foothold in the region. In September 2012, Recruit also bought well-known job site, Indeed.
The firm operates across major global markets. In Asia, Recruit has operations in India, Hong Kong, South Korea, Singapore, Vietnam and China. The firm is not a pure staffing business. It owns a number of online businesses in Japan and other parts of Asia and recently entered into a partnership with a Japanese bank to issue credit cards.