Kanzhun Weathers Covid Storm, Silent on Data Security Review

China’s leading online recruitment company reported its revenue rose 43% in the first quarter, but forecast a decline in the second quarter due to Covid disruptions Key Takeaways: Kanzhun reported strong first-quarter revenue growth, but predicted it would record its first-ever revenue contraction in the second quarter due to Covid disruptions No updates were provided on a government data security review that is reportedly nearing completion and has prevented the company from registering new users for nearly a year By Doug Young The latest earnings report from Kanzhun Ltd. (BZ.US)…

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FAST NEWS: 51job Shares Plunge on Privatization Doubts

The latest: Online recruitment site operator 51job Inc. (JOBS.US) said a group bidding to privatize the company is “in consultation with Chinese regulators on recent regulatory changes in China that may be applicable to the company and the proposed transaction.” It did not comment further on the nature of the regulatory changes, and added a timeline for completion of the consultations “cannot be provided at this time.” Looking Up: 51job first received the privatization offer a year ago, and had previously said the deal was expected to close by the…

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Employment Specialist Kanzhun Shows It’s Down, But Not Out, With First-Ever Profit

Company posts 174% revenue jump in second quarter, but warns an ongoing cybersecurity review is likely to continue through at least the end of September Key takeaways: Kanzhun has posted its first-ever quarterly profit, fueled by a 174% jump in revenue Company warns that a cybersecurity review and concurrent freeze on new user signups is affecting its business, and could last through at least the end of September By Doug Young The maiden quarterly earnings report from leading online jobs specialist Kanzhun Ltd. (BZ.US), best known in China for its…

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