U.S. job looking service Glassdoor, which is finest recognized for offering perception into firm working cultures, has been acquired for $1.2 billion in money by Recruit, a $39 billion Japanese company that focuses on HR and recruitment companies.
The all-cash acquisition will see Glassdoor proceed to keep up its model, CEO Robert Hohman defined in a weblog publish.
“Our mission has been the identical since day one: to assist folks in all places discover a job and firm they love. That mission is not going to change as a part of Recruit. Glassdoor will proceed to function as a definite model to meet this mission — and might be ready to take action with better velocity and affect than we might obtain alone,” Hohman wrote.
Glassdoor raised a complete of simply over $200 million from buyers, with its most up-to-date spherical a $40 million Collection H in March 2016. That final funding gave Glassdoor a valuation of round $1 billion. That’s not an enormous quantity greater than what Recruit is paying, which means that the final couple of years haven’t been so spectacular for Glassdoor by way of development.
Nonetheless, this deal seems to be like a win for these backers, notably the sooner stage buyers resembling Benchmark and Battery Ventures .
Ten-year-old Glassdoor says it’s utilized by 59 million folks every month, lots of whom come to the service to examine how firms are rated by the individuals who work, or labored there. Whereas it’s headquartered within the U.S., Glassdoor says it has data on greater than 770,000 firms throughout 190 nations worldwide, together with 40 million critiques masking firm tradition, CEO rankings, wage data and extra.
Glassdoor’s income comes from recruitment companies, and it claims to work with some 7,000 staff and 40 % of the Fortune 500.
Recruit will not be a well known title within the U.S. however the Japanese agency is large, and it’s historical past as a purchaser of abroad companies.
The agency — which was based in 1960 — is listed on the Toyko Inventory Trade and it has 45,000 staff throughout 60 nations.
Past recruitment and HR companies, it additionally operates in actual estates, journey, eating and different segments. That’s mirrored in its previous acquisitions, which have included U.S. job websites Certainly.com (2012), Merely Employed (2016) and, in Europe, restaurant website Quandoo (2015), hair and sweetness service Wahanda (2015) and training expertise firm Quipper (2015).