Meridian Capital-Backed Zhipin.com Lands on Nasdaq
BEIJING, June 12, 2021
BEIJING, June 12, 2021 /PRNewswire/ -- On June 11, China's largest online recruitment platform, Zhipin.com, successfully listed on the Nasdaq Stock Exchange, with the stock code BZ. In this IPO, 48 million American Depositary Shares (ADS) were issued, and the total funds raised exceeded USD1 billion. The company's overall valuation exceeds USD8 billion.
Meridian Capital is an important institutional investor of Zhipin.com. After Zhipin.com's founding in 2014, an in-depth communication between Meridian Capital and Zhipin.com's founders started at the beginning of 2015, and by September of that year Meridian Capital had developed the investment framework and term sheet to become the company's lead investor in the first round of Series C funding.
Subsequently, Meridian Capital increased its investment in Series C2 financing, and has been helping and accompanying the growth of Zhipin.com for more than 6 years.
Ji Wei, the founding Managing Partner of Meridian Capital, said, Zhipin.com has subverted the traditional resume-centric recruitment mode, promoting the efficient connection between recruiters and job seekers, and greatly improving the efficiency of talent matching.
In this case, initially, Meridian Capital was also a user of Zhipin.com, and later became its investor.
Meridian Capital is a leading venture capital firm in China. Up to now, Meridian Capital has managed over RMB8.5 billion of capital and invested in more than 190 companies. Meridian Capital has continually been active in the digital economy space, especially with regard to technology empowerment enterprises.
In addition to Zhipin.com, Meridian Capital has also invested in industry leading companies including Weimob, Biren Technology, DeepBlue Technology, Joyou.com, Beagledata. Meridian Capital has acted as the lead investor for 91% of all of its investment projects.
From the statistical data it can be seen that Meridian has successfully exited from more than 40 portfolios either through an IPO or through M&A, and nearly two-thirds of the companies it has invested in have completed multiple subsequent rounds of financing.
In the future, there is still considerable room for growth for Zhipin.com. CIC research data shows that the scale of China's online recruitment market is expected to increase from RMB55.1 billion in 2020 to RMB223.4 billion in 2025, with a CAGR of 32.3%.
SOURCE Meridian Capital
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