Glassdoor to be acquired for $1.2 billion by Japan-based HR giant Recruit Holdingsby Netive Team May 15, 2018
The Mill Valley, Calif.-based company operates a recruiting and jobs platform with 59 million active monthly users and data on more than 770,000 companies across 190 countries.
Glassdoor, founded in 2008, will remain a “distinct and separate part” of Recruit Holdings’ HR technology business segment. The Tokyo-based company has more than 45,000 employees; its last big acquisition was swooping up jobs site Indeed in 2012.
The all-cash deal is subject to regulatory approval, expected this summer.
“Glassdoor has transformed how people search for jobs and how companies recruit,” said Glassdoor CEO Robert Hohman, who will continue to lead the company. “Joining with Recruit allows Glassdoor to accelerate its innovation and growth to help job seekers find a job and company they love while also helping employers hire quality candidates.”
Hohman, an early Expedia employee and Microsoft veteran who spoke at the GeekWire Summit in 2015, co-founded Glassdoor with Expedia and Zillow co-founder Rich Barton, and former Expedia executive Tim Besse.
Originally built as a platform for employees to share information and post reviews about their jobs, salaries, and workplace environment. The company became known for its numerical ranking of CEOs and has also grown into one of the largest career sites in the world.
The company website has job listings that, when paired with the wealth of data on companies — pay data; interview reviews; office photos; etc. — and individual leaders, makes for a valuable combination. It earns revenue from employers who pay to leverage premium features of the platform to connect with job candidates. Around 40 percent of companies in the Fortune 500 are Glassdoor customers.
Glassdoor had raised more than $200 million from investors like Benchmark, T. Rowe Price, Battery Ventures, Capital G, DAG Ventures, Dragoneer, Sutter Hill Ventures and Tiger Global. It had reportedly been an IPO candidate. Bloomberg reported that it was growing revenue by 30 percent year-over-year.