Wednesday, July 25, 2007

Paying for leads in India

The Venturewoods blog is based in India and covers VC issues there. Today's post talks of an investment they've made in a business called Techtribe. The post describes the site thus:

...a professional community website, [which] aims to monetize the same through a referral based recruiting model. Whats more, it has an incentive model, where referrers can make Rs 10,000 for each successful referral they make
Rs10,000 is about $250 in what Americans used to call "real money" and what it now seems we should now refer to as the ever-diminishing-dollar. The blogger and several commenters on the post (no mention of sharks fins, I note) feel this is one of the few real innovations seen in Indian e-recruiting for some while.

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