Leading Japanese HR services business Recruit Co. will acquire top job search site Indeed.com, the companies announced today.
Stamford, Conn.-based Indeed was launched in 2004 and claims to attract 80 million unique visitors per month. It has localized versions in more than 50 counties, and it is the number one job site by traffic in the U.S., Canada, the U.K., and France.
“We became the world’s leading job site by putting job seekers’ interests first and providing the best possible job search experience in every market,” Indeed co-founder Rony Kahan said in a statement.
Indeed will remain an independent operating unit that is led by its current management team. Its software will help Recruit fill out its list of services that help people with recruitment needs.
“Recruit aspires to be the leader in HR and recruitment services worldwide,” said Masumi Minegishi, CEO of Recruit, in a statement. “Our acquisition of Indeed is a critical step in achieving that goal and we are excited to help build on Indeed’s #1 position in job search.”
Indeed raised a $5 million first round from Allen & Company, The New York Times, and Union Square Ventures back in 2005 and has coasted on those funds ever since.
The terms of the deal were not disclosed, but some reports said the price was around $1 billion. The New York Times said it expects to net $100 million from its initial investment.
Job hunting photo via ra2 studio/Shutterstock