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Google Rolls Out Kormo Jobs App to Expand Footprint in India

Alphabet’s GOOGL division Google is leaving no stone unturned to bolster presence in India on the back of its technology solutions and focus toward delivering social benefits.

The recent launch of its job-listing app namely Kormo Jobs in India is a testament to the same. Notably, the app aids job seekers find relevant work based on their profiles and skills.

The app, which focuses on entry-level jobs, is available for Android users through Play Store. Reportedly, the companies like Dunzo and Zomato have posted two million jobs on this app since its launch.

COVID-19 in Focus, Rising Competition

The latest step remains noteworthy on part of Google during the ongoing pandemic situation, which led to economic disruption resulting in job losses.

Moreover, by helping job seekers in India in finding work during this unprecedented time, the company is likely to help in boosting the employment rate of the country.

Additionally, this is expected to bolster the adoption rate of the Kormo app, which in turn, will strengthen the company’s presence in the promising job application market of India.

The growing proliferation of Internet usage and significantly expanding app market in India has made it alluring enough to attract companies to make advances in a bid to capitalize on these prospects.

The launch of Kormo Jobs app by Google is evidence of the fact. In fact, following the launch of this app, competition in job app market of India is expected to intensify.

Google’s entry is anticipated to provide strong competition to incumbents including Microsoft’s MSFT LinkedIn, International Business Machine’s IBM IBM Talent Management Solutions, Naukri.com, Shine.com and Monster, which have strong user base.

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Google in India

The launch of Kormo app bodes well for the aggressive efforts of Google toward expanding presence in India.

Apart from job market, Google announced plans to invest $10 billion in India over the next five-seven years with an aim of focusing on areas related to India’s digitization.

Further, the company recently revealed its plans to invest $4 billion in Jio Platforms Limited, the digital arm of a massive India-based conglomerate, Reliance Industries (RIL).

Moreover, it was reported that Google was in early stages of talks with the British telecom company, Vodafone, to acquire a 5% stake in the latter’s India business unit —Vodafone Idea.

We believe these endeavors make Google well-poised to reap benefits from the second largest Internet market, India.

Zacks Rank & a Stock to Consider

Currently, Alphabet carries a Zacks Rank #3 (Hold).

A better-ranked stock in the broader technology sector is Shopify SHOP which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The long-term expected earnings growth rate for Shopify is currently pegged at 32.5%.

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