Acquisitions · Online job sites
Recruit buys job review site Glassdoor for $1.2 billion
- Buyer
- Recruit Holdings (Tokyo)
- Target
- Glassdoor, Mill Valley, California
- Value
- $1.2B cash (about ¥128.5B including advisory fees)
- Status
- Agreed on May 9, 2018; completed on June 21, 2018.
- Date
- 2018-05-09
Recruit Holdings, the owner of the job search site Indeed, bought Glassdoor, a Mill Valley, California-based job site known for employee reviews of companies, for $1.2 billion in cash. Sellers included Battery Ventures and Tiger Global. Glassdoor was run as a sister company of Indeed with its own brand.
Why it matters
Glassdoor's company reviews and salary data complemented Indeed's job listings, strengthening Recruit's position in US online recruiting.
About Glassdoor
Glassdoor had about 750 employees and more than 59 million unique monthly users as of January 2018, with reviews and insights on more than 770,000 companies in over 190 countries. Its sales grew from $79.2 million to $170.8 million over two years, though it was still loss-making. Job seekers use the content for free, and employers pay for job ads and employer branding.
Early closing
Recruit had expected to close between July and September 2018, but the conditions were met early and it completed the deal on June 21. Co-founder Robert Hohman stayed on as chief executive, reporting to Recruit's head of HR technology, and Recruit said it would take a hands-off approach.
Sources
Kakehashi M&A News home
