QUOTE
In only three years of operation, the value of Jonah Levey’s job recruitment website, www.vietnamworks.com, had increased by more than 50 times, and recently, it was included on a list of the top 100 Asian companies.
In June 2002, when Jonah Levey, 28, opened a job search website in Vietnam, many people figured it was for charity.
At the time, there were many job service centres in Vietnam that collected fees from job seekers. Levey did the opposite. He started an online job service centre that collects fees from employers.
Mr. Levy gave up the directorship of a leading New York employment company to come to HCM City and open www.vietnamworks.com with only four employees out of a small office in Binh Thanh District. They invited local companies to post notices for job openings for the paltry fee of one US dollar.
At first, Levey, had to borrow a page out of Google’s book and offer his employees shares of the company – at that time worth $2 USD, each – in lieu of salary. After two years operating at a loss, it was looking as though Levey would have to close his company.
Then, things began to change. Vietnamese youth began to use the site in greater numbers, and Levey and company began to gain the trust of clients.
Now, employers pay between $40 and $120 to post job listings on vietnamworks.com.
As of December 2005, Levey counted more than 3,000 companies operating in Vietnam as regular posters on vietnamworks.com. Hundreds of US dollars flow into the company every month, and its value has increased by more than 50 times.
At present, the company has been operating mainly in HCM City, Hanoi and a small number of other provinces. However, there are plans to expand into many more parts of the country in the near future.
In October 2005, vietnamworks.com entered American business magazine Red Herring’s list of 100 outstanding companies in Asia, making it the only Vietnamese firm on the list and joining past honourees, such as Google and eBay.
Levey is proud to be part of the list, which rewards companies with pioneering business models over those that simply show the largest revenues
In June 2002, when Jonah Levey, 28, opened a job search website in Vietnam, many people figured it was for charity.
At the time, there were many job service centres in Vietnam that collected fees from job seekers. Levey did the opposite. He started an online job service centre that collects fees from employers.
Mr. Levy gave up the directorship of a leading New York employment company to come to HCM City and open www.vietnamworks.com with only four employees out of a small office in Binh Thanh District. They invited local companies to post notices for job openings for the paltry fee of one US dollar.
At first, Levey, had to borrow a page out of Google’s book and offer his employees shares of the company – at that time worth $2 USD, each – in lieu of salary. After two years operating at a loss, it was looking as though Levey would have to close his company.
Then, things began to change. Vietnamese youth began to use the site in greater numbers, and Levey and company began to gain the trust of clients.
Now, employers pay between $40 and $120 to post job listings on vietnamworks.com.
As of December 2005, Levey counted more than 3,000 companies operating in Vietnam as regular posters on vietnamworks.com. Hundreds of US dollars flow into the company every month, and its value has increased by more than 50 times.
At present, the company has been operating mainly in HCM City, Hanoi and a small number of other provinces. However, there are plans to expand into many more parts of the country in the near future.
In October 2005, vietnamworks.com entered American business magazine Red Herring’s list of 100 outstanding companies in Asia, making it the only Vietnamese firm on the list and joining past honourees, such as Google and eBay.
Levey is proud to be part of the list, which rewards companies with pioneering business models over those that simply show the largest revenues
http://english.vietnamnet.vn/biz/2006/02/538800/
At any rate, Jonah Levey is a shining example of the expats who move to Vietnam, make Vietnam their home, and contribute their skills, capital and network of connections to Vietnamese society. It definitely pays to be an open society.
