Buying and Selling in the Recruitment Industry: Movers & Shakers You Might Have Missed

Some interesting developments over the past month, including a new round of financials from the publicly-held job boards and some VC money going into the market.

Let’s take a look:

  • Work4 nabs some serious cash:Work4, the Facebook-oriented recruiting platform, has picked up $7 million in Series B funding. It is also now integrated with Twitter and looking at other social platforms. Is Work4Instagram coming next?
  • TheGoodJobs snags $300KTheGoodJobs, a tool that spotlights employer culture, nabbed $300K in funding and loans. The company plans to use the cash to increase customer acquisition.
  • DMGT giving up on online recruiting?: DMGT, the UK-based conglomerate, has sold 3 of its 4 online recruiting properties, including Broadbean, JobRapido, and OilCareers. Inadequate revenue growth appears to be the cause for the exit from the industry, although DMGT still operates Jobsite.co.uk. Too much too soon? Hard to tell.
  • Doximity raises $54 millionDoximity, the semi-closed social network for doctors, has closed $54 million in Series C funding. It now counts 1/3 of the doctors in the U.S. as its members. They obviously don’t need aspirin at this point.
  • LinkedIn goes after SellHack, HiringSolved: LinkedIn has taken legal action against two products that either search or aggregate data from LinkedIn (and other sources). The outcome of these cases may have a chilling effect on certain categories of startups in the online recruiting biz. In other news, LinkedIn fell short of analysts’ expectations for projected revenue later this year.
  • Indeed tops SilkRoad’s source of hire survey: The 2014 version of SilkRoad’s source of hire survey once again points to Indeed as the top online recruiting source (38%), with CareerBuilder following at 18%. Employee referrals trump both of these, however, at 59%. In other news, Indeed announced that it had reached 140 million unique monthly visitors.
  • Monster revenue downMonster’s year over year revenue for Q1 were down $14 million; not surprisingly, stock price dropped accordingly.
  • OpenWeb now generating sales for Dice: As part of Dice’s Q1 financials (which revealed that the company generated $60.7 million), CEO Mike Durney also commented that OpenWeb has now garnered $1 million in sales since December. A sign of things to come for ‘people aggregators’?
  • CareerBuilder acquires BroadbeanAs mentioned above, DMGT sold the job distribution company Broadbean – to CareerBuilder. This follows previous acquisitions like EMSI, designed to enhance CareerBuilder’s SaaS capabilities for HR. Interesting move. In other news, the job board grew its revenue by 4% in Q1. Monster was jealous.

Man! Lots of activity during the past 30 days. I’ll be curious to see what’s next!

 

Views: 153

Comment by Keith Halperin on May 5, 2014 at 12:40pm

Thank you, Jeff.This is very intersting to me. Do you have some sort of feed where I can receive the latest updates on recruiting product and service companies?

Cheers,

Keith keithsrj@sbcglobal.net

Comment by Steve Levy on May 5, 2014 at 3:46pm

@Jeff, I've learned through the years that what the APIs giveth, the APIs can then taketh away...

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