LiveHire Ltd (ASX:LVH) is Australia's newest public company after it commenced trading today at 10:30AM Sydney time.
The company was founded in 2011 and aims to change the recruitment model, where an employer or recruiter puts out a job ad and waits for responses.
A total of 50 million new shares were issued at $0.20 per share to raise $10 million. there is circa 117 million quoted securities in total.
The IPO will enable LiveHire to accelerate its growth strategy in its existing and new markets in Australia and in time, internationally.
LiveHire’s cloud-based platform enables clients to leverage their information networks to invite and curate talent from multiple sources into a private ‘talent community’.
As a result, the LiveHire platform reduces time to hire and cost to hire.
McKinsey & Co have stated that by 2025, online talent platforms could boost global GDP by $2.7 trillion annually. Effective recruitment is still an issue in Australia with the average hire taking 68 days.
LiveHire charges the company owning the talent community a monthly hosting fee of $0.50 per talent community member. Capped fee structures are sometimes used during initial growth phases to support on-boarding new clients.
LiveHire’s key performance metric is its number of talent community connections (TCCs).
TCCs have grown to be 130,000 at the end of May from 50,000 at the end of December, 2015, a month-on-month growth of 16% in May alone.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.