The Capital Cycle Podcast · Marathon Asset Management

Job Lot on Sale

·17 min·1 clip
Kai Chen reveals Boss Zhipin monetizes only 30% of its postings at 1/15th the price of its mature Australian counterpart, with potential for 8x revenue growth.
Edward Chancellor interviews Kai Chen, an analyst at Marathon Asset Management, who makes a detailed investment case for KanZhen, the company behind the Chinese online recruitment platform Boss Zhipin. The discussion centers on how Boss Zhipin exhibits emerging network effects, creating a large gap between the value it provides and the revenue it captures, similar to the mature Australian platform Seek, suggesting significant long-term growth and monetization potential.

As heard by us

A disciplined look at network effects, platform friction, and self-funded growth.

The discussion tracks a clear market story: a Chinese online recruitment business becomes more valuable as more people use it. Kai Chen is at his best when he moves from definition to mechanism, showing how direct chat and fee-based recommendations make the service more useful…

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Why you'd press play

If you like network effects with a balance sheet, this is your calm look at a Chinese online recruitment platform.

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