Microsoft Buys 4% Equity In CareerBuilder.com
Microsoft Corporation announced today that they have bought an equity stake in CareerBuilder Inc.Â CareerBuilder is Monster’s biggest competitor.Â Other owners in CareerBuilder include Gannett Co. Inc. (40.8%), Tribune Company (40.8%), and The McClatchy Company (14.4%).
This deal makes CareerBuilder.com serve as MSN Career’s exclusive content supplier until at least 2013.Â Also, CareerBuilder will pay MSN $443 milllion over seven years depending on quality & quantity of MSN traffic delivery (Information Source: Chicago Tribune).
“Our strategic business relationship with MSN played a major part in CareerBuilder taking over as the industry leader in 2006, helping to drive critical levels of job-search traffic,” stated Matt Ferguson, CareerBuilder’s CEO. “Microsoft’s equity stake builds on this successful relationship and establishes a global alliance with one of the world’s most ubiquitous technology powerhouses.”
Earlier this month, Google was rumored to acquire SimplyHired.Â Microsoft’s deal may advance talks and may also lead to an acquisition of SimplyHired.
CareerBuilder Inc. is based in Chicago, IL and has affiliations with CollegeClub.com, Experience.com, and iVillage.com.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry