Wantedly, Japan’s social recruiting startup, files for IPO

At the press conference introducing Wantedly’s new contact management service Wantedly People in July.
L to R: Akito Sakasegawa (New Business Development, Wantedly), Akiko Naka (CEO, Wantedly), Naoyoshi Aikawa (Lead Engineer, Wantedly)

See the original story in Japanese.

Tokyo-based Wantedly, Japan’s social recruiting startup, announced today that its IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on 14 September with plans to offer 50,000 shares for public subscription and to sell 19,500 shares in over-allotment options, for a total of 80,000 shares. Daiwa Securities will lead the underwriting.

Its share price range will be released on 28 August with bookbuilding scheduled to start on 7 September and pricing on 6 September. According to the consolidated statement as of August 2016, they posted revenue of 840 million yen (about $7.6 million) with an ordinary profit of 120 million yen ($1.1 million) and a net profit of 77 million yen ($700,000). Wantedly, the company’s flagship service offering business-centric social networking opportunities, has about 800,000 individual users and 23,000 corporate users. About 1.5 million unique users visit the platform a month while 27% of these users visit it at least once a month.

Led by the company’s CEO Akiko Naka (69.98%), its major shareholders include CyberAgent (TSE:4751, 11.1%), Shogo Kawada (co-founder and advisor of DeNA, 6.38%), Shinji Kumura (Founder of AnyPay / Das Capital, 4.13%), Yoshinori Kawasaki (CTO of Wantedly, 3.26%), Archetype (2.02%), Nihon Keizai Shimbun or simply The Nikkei (1.17%), Naoyoshi Aikawa (Lead engineer of Wantedly, 0.59%), Masanori Sugiyama (Chairman and President of Zappalas, 0.42%) and Kosuke Matsumoto (Managing Director of Enish, 0.42%).

Wantedly was founded back in 2010 under its previous name of Fuel by Naka who previously participated in launching Japanese operations of Facebook. Focusing on the potential of referral recruitment business, she launched the Wantedly social recruiting platform.

Wantedly Visit
Image credit: Wantedly Singapore

By stepping into beyond just a recruiting platform, Wantedly has been a taking the position of a LinkedIn-like business-centric social network platform. In order to expand its business by increasing touch-points for businesspersons, the company has launched additional services such as Wantedly Visit (interview scheduling assistant between hiring companies and employee candidates), Wantedly People (business card management) and Wantedly Chat (group chat app).

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Translated by Masaru Ikeda
Edited by “Tex” Pomeroy