iLab Ventures acquires majority stake in Kariyer.net

iLab Ventures, a Turkish venture capital firm, announced increase of stake in Kariyer.net to 100%. Since April 2000 iLab has been a minority investor in Kariyer.net, Turkeyís by far leading online careers network.

Kariyer.net is the first and leading online recruitment business in Turkey. Since its inception in 1999, the Company has grown to be the market defining player with about 7.500 corporate customers and over 3 million resumes of recruitment candidates. Over 900 jobs are being posted daily on Kariyer.net and more than 100.000 job seekers have been recruited with the help of Kariyer.net services.

Kariyer.net is closely serving clients and candidates all around Turkey with 120 employees and regional offices in 15 locations including Istanbul/Anatolia, Istanbul/Europe, Izmir, Bursa, Ankara, Adana, Antalya, Gaziantep, Samsun, orlu, Kocaeli, Konya, Eskiehir and Manisa.

iLab Ventures Chairman Mr. Mustafa Say said: ìAs part of our long-term online business vision and strategy to grow in online recruitment business, iLab decided to increase stake in Kariyer.net to 100%. We believe in the leadership of Kariyer.net in online recruitment business. Strong synergies exist between Kariyer.net and existing online businesses of iLab.î

Mustafa Say added: îKariyer.net has contributed to the recruitment process in Turkey by gathering job candidates and employers on the same platform. Kariyer.net will continue its leadership and will meet much more candidates and employers with iLabís diverse experience in online business.î

iLab Chairman Mustafa Say said: ì iLab will continue investing in new online businesses and brands and envision to be a driving force of development of online business in Turkey.î