KUALA LUMPUR: Australia's SEEK Ltd raised its stake in JobStreet.com to 21.35% or 66.889 million shares after recently acquiring 20.29 million shares in March.

JobStreet CEO Mark Chang said on Wednesday, March 10 that SEEK is one of the leading companies in the online employment industry.

He added SEEK has great experience in building a significant and highly profitable online business and has also developed expertise in investing and contributing to growing businesses in other emerging markets such as China and Brazil.

SEEK is the market leader among employment websites in Australia and New Zealand. Aside from JobStreet.com, SEEK has also invested in leading employment websites in the emerging markets of China and Brazil.

“Given this, we are looking forward to working closely with SEEK management to continue to grow our business. We are confident SEEK can add significant value, particularly across strategy, marketing and product development,” Chang added.

SEEK’s joint CEO, Andrew Bassat, said the company was impressed by JobStreet's strong results since acquiring its initial stake, especially given the effects of the global financial crisis on employment markets.

“In a rapidly growing regional economy still in the early stages of online migration, we are confident of JobStreet’s prospects and ability to increase market share. We also believe we can make a significant contribution to JobStreet by providing strategic support and sharing expertise across the operations,” Bassat said.