Wednesday, February 3, 2010

Monster buys HotJobs for $225 million

A definite plus for MWW (16.42). Now your players are Monster and owned by GCI.

Yahoo wouldn't sell the firm to MSFT at the top of Internet ads, when they bid over $30, but now Yahoo will sell at the bottom of the cycle in unemployment!

Since MWW is doing the buying, here is the benefits, they think they'll get:

Anticipated increase in job matches and search efficiencies – By bringing more diverse job and career opportunities, tools and resources together in one place, employers and job seekers will enjoy greater convenience and more precise search results and better matches with Monster’s patented 6Sense™ search technology and other innovative products.

Expected expansion of job seeker pool for employers – Monster will be able to offer its employers a significantly larger pool of candidates across diverse geographies and industries. Based on Media Metrix comScore reporting, last year HotJobs averaged 12.6 million unique visitors per month.

Expected expansion of the number of job postings across industries for job seekers –Through the combination of Monster and HotJobs job postings, job seekers will have access to more job opportunities in one place in those industries currently leading job creation, including healthcare, finance and insurance, retail, manufacturing, information and wholesale trade.

Broader reach anticipated for recruitment advertising through additional media alliances and reseller agreement – With the addition of HotJobs’s network of more than 600 daily and weekly newspapers, Monster’s alliances with local papers will grow to a total of approximately 1,000, giving Monster reach in all 50 states. The additional newspaper alliances, through their online and print classified ads, will further Monster’s current strategy of connecting job seekers with smaller, local businesses, particularly in healthcare, education, and skilled and hourly job categories.

Maybe the jobs business isn't a dinosaur after-all!


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