Grupa Ringier Axel Springer Polska AG invests in international growth of a leading IT job board – No Fluff Jobs – by taking majority stake

Grupa Ringier Axel Springer Polska AG (GRASPAG) is further investing in the international IT recruitment market and agreed to take over the majority of shares in No Fluff Jobs to boost the international growth of the company. Another investment of GRASPAG that supports start-ups in growing and becoming scale-ups.

In 2018, GRASPAG´s predecessor Ringier Axel Springer Media AG acquired 44 percent of the shares in No Fluff Jobs Sp. z o.o., the operator of nofluffjobs.com.  No Fluff Jobs is an IT job portal unique in the way it offers standardized and comparable job advertisements. The company is driven by the belief that simplicity, transparency and a clear candidate focus are key success factors which set new standards in the world of IT recruitment. No Fluff Jobs features detailed and comparable IT job ads with mandatory pay-scales, as well as information about the technology stack and company perks. During the course of the last four years, No Fluff Jobs became one of the fastest growing digital services in the portfolio of the company, growing its revenue by 13x since the investment in 2018. Now, GRASPAG has signed an agreement to take over the majority of No Fluff Jobs with a 70 percent stake.  

Mark Dekan, CEO GRASPAG: “I am glad that after four successful years of cooperation, we have now made the next step. Together with the founders, Magdalena Gawłowska-Bujok and Tomasz Bujok, we plan to take the company to the next level of international growth. To build a strong IT job board on a dynamic and growing global market of IT professionals.” 

Tomasz Bujok, Co-Founder and CEO No Fluff Jobs: “Every day 130 No Fluff Jobs employees work hard to implement the highest IT recruitment standards in five European countries. Now the time has come to make No Fluff Jobs an international leader in IT recruitment. We are excited to continue a successful partnership with GRASPAGwhich will allow us to spread No Fluff Jobs values internationally.”

About No Fluff Jobs

No Fluff Jobs is the biggest European IT job board with mandatory pay scales in every ad. Besides Poland, No Fluff Jobs has taken transparent recruiting to Hungary, Czech Republic, Slovakia and Ukraine. Since its beginning in 2014, No Fluff Jobs`s mission is to implement the highest standards of IT recruitment by providing standardized and comparable job offers, with obligatory salary ranges in every ad. No Fluff Jobs believes that honesty, transparency and respect are values that can revolutionize the world of IT recruitment. More information about No Fluff Jobs here: https://nofluffjobs.com/

About Grupa Ringier Axel Springer Polska AG (GRASPAG)

GRASPAG the successful joint venture between Ringier and Axel Springer in Poland, is the leading media company in the country, whose portfolio includes over 20 established media brands, such as Przegląd Sportowy, Onet – the biggest news portal in Poland, Fakt – the biggest Polish daily, Business Insider – the biggest business portal, Newsweek, Forbes, Ofeminin and Noizz. GRASPAG`soffering also includes the e-commerce segment: Skąpiec and Opineo, as well as a portfolio of popular digital services, such as Grupa Morizon-Gratka, Lendi and No Fluff Jobs. GRASPAG`s has been certified with the Great Place to Work Certificate with 74 percent of employees recommending to work for this company. 

Digital Services of Grupa Ringier Axel Springer Polska

In addition to No Fluff Jobs, the digital services portfolio of Ringier Axel Springer also includes the real estate focused digital classifieds services of morizon.pl and gratka.pl, online mortgage intermediary Lendi.pl and the transportation guide app JakDojadę. The digital services porfolio with its high growth assets represents the second pillar of the company’s activity, next to the media segment. For the whole of 2021, the total revenues from digital services doubled. MZN Property group building on synergies in the real estate market, with portfolio companies: Grupa Morizon-Gratka (digital real estate classifieds) and Lendi (mortgage intermediary) grew in 2021 total revenue by 140% year on year. While Lendi’s revenues itself increased almost fourfold in 2021 (vs. 2020), and the company itself moved up to 3rd place in the mortgage intermediation market within a year. In the fourth quarter alone, the Lendi.pl platform handled almost PLN 1.9 billion loans (i.e. three times more than in 2020) cooperating with 1350 financial experts.  JakDojade in 2021 recorded an 50% increase in revenue compared to 2020.