Monster Deal Inked for $225M for Yahoo HotJobs

February 3, 2010

6:19 pm

Monster.com which has been connecting employers with  job seekers for the past decade announced today that it is in an:

“indefinitive agreement to acquire the assets of Yahoo! HotJobs, a leading online recruitment website, from Yahoo! (NASDAQ:YHOO) for $225 million in cash. Monster and Yahoo! have also entered into a three year commercial traffic agreement, to take effect upon the closing of the acquisition, in which Monster will become Yahoo!’s provider of career and job content on the Yahoo! homepage in the United States and Canada.”

With the changing landscape of web 2.0 competition both Monster and Yahoo!HotJobs have to work hard to change from just being a job board to more of a community focus.  In a recent post the CLAIRE CAIN MILLER wrote in the New York Times “Twitter Could Become the Unemployed’s Best Friend” that 340,000 jobs have been listed on Twitter and featured tools TwitjobSearch and JobDeck. You can even apply for jobs from your iPhone with their free app.

The  Monster’s official announcement says:

“HotJobs with its significant customer base plus the traffic agreement are an ideal complement to Monster’s innovative recruitment solutions and global reach,” said Sal Iannuzzi, chairman, chief executive officer and president of Monster Worldwide.”

Additionally:

“The agreements, combines with Monster’s career Communities and our recently introduced 6Sense(TM) semantic search technology, will bring substantial new benefits for employers seeking more qualified candidates and job seekers searching for more relevant opportunities across a wider range of industries – globally.”

The use of semantic search may be a huge advantage for both recruiters and job applicants and keyword stuffing of resumes may be a thing of the past.

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Shashi Bellamkonda is the Chief Marketing Officer at Surefire Social. He is also an adjunct professor at Georgetown University. Shashi is passionate about helping startups and small business and has been recognized twice as one of the Top 100 Tech Titans by the Washingtonian and Top 100 Small Business Influencer Champion 2011 by Small Business Trends. Follow him on Twitter @shashib.

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