In all the hoopla last week surrounding the Indeed.com acquisition, most pundits overlooked how bad it was for Monster and its job board brethren.
According to a source who wanted to remain anonymous, Recruit Co., Indeed’s buyer, had a deal with Monster on the table as well. Indeed’s pricetag was rumored to be $1.2 billion while Monster wanted $1.4 billion.
So, a measly $200 million apparently separated the two options. And although Indeed’s revenues are private, one can make an educated guess that it currently doesn’t touch Monster’s.
But since most companies buy other companies for where the puck is going and not where it is, the choice to go with Indeed proved the growth story was with Indeed. The growth story for Monster, in contrast, is likely over, and choosing Indeed highlights that fact.