Job listing portal Glassdoor sold to Japan’s Recruit HR for $1.2 billion in all-cash deal

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Published: May 9, 2018 11:38:44 AM

The acquisition is expected to close this summer with Qatalyst Partners acting as a financial advisor to Glassdoor and Goldman Sachs for Recruit.

Job listing portal Glassdoor sold to Japan’s Recruit HR for $1.2 billion in all-cash deal

Job employment portal, Glassdoor, better known for providing insights into company culture has been acquired by Japan’s Recruit Holdings for $1.2 billion all-cash deal. The company is one of the most popular job search engines better known for its workplace transparency. Recruit Holdings, Japan-based HR company, plans to use the acquisition as a seperate part of its HR technology business segment.

The acquisition is expected to close this summer with Qatalyst Partners acting as a financial advisor to Glassdoor and Goldman Sachs for Recruit.

“Glassdoor has transformed how people search for jobs and how companies recruit. 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,” said Robert Hohman, Glassdoor CEO and co-founder, who will continue to lead the company.  

The company has raised over $200 million from investors with its most recent investment falling in at $40 million in series H. With the last investment, apparently, Glassdoor got a $1 billion post valuation. Glassdoor has been lagging in terms of growth and this is not a huge amount for this acquisition.

The deal looks like a win situation for investors who backed the company early – Benchmark and Battery Venture.

“I am delighted to welcome Glassdoor to the Recruit Group. Glassdoor presents a powerful platform that is changing how people find jobs everywhere,” said Hisayuki Idekoba (Deko), COO of Recruit and Head of Recruit’s HR Technology Segment. “Glassdoor is an impressive company with strong leadership, mission, products, clients and employees. We are excited to help them continue to grow and deliver value to the job seekers and employers they serve.”

The company was launched a decade back and is one of the biggest job portals in the US and claims to have over 59 million people join the service every month. Further the company holds a data of more than 770,000 companies located in over 190 countries globally. The company also provides recruitment to over 40 percent of the Fortune 500 companies.

Headquartered in Tokyo, the Recruit group was founded back in 1960, the company operates a wide range of services, including HR technology, recruitment advertisement, employment placement, staffing, housing and real estate, bridal, travel, dining, beauty and others. The Group claims to have more than 45,000 employees.The company has been quite active in the US market with its acquisitions speaking for itself. Its acquisitions include Indeed.com in 2012, Simply Hired in 2016, Quandoo in 2015, Wahanda in 2015 and Quipper in 2015.

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