Recruit Co. Acquires Job Search Company Indeed.com For Around $1 Billion
Recruit Co. Ltd is an HR and information services company that is based in Japan. Recruit Co. has acquired Indeed.com, a jobs website based in the United States. The terms of the deal are undisclosed, but there were signs that Indeed was planning to go the IPO route. This is why the acquisition price is rumored to be at around $1 billion.
Indeed launched in 2004 as a job search engine and is available across 50+ countries, 26 languages, and receives around 80 million unique visitors per month. There are around 25,000 employer clients. Indeed does not have much of a presence in Asia, which is why this acquisition makes perfect sense from a synergy perspective.
The New York Times
The New York Times did very well in this transaction. The New York Times is netting $100 million on their seven year old investment in Indeed.com. The New York Times also just sold About.com for $300 million so that means the company had about a $400 million month. The New York Times participated in Indeed’s $5 million Series A round along with Allen & Co. and Union Square Ventures. Indeed has not raised any additional funding since then.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry