Recruit Holdings Buys Glassdoor for $1.2 Billion

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Recruit Holdings Buys Glassdoor for $1.2 Billion

Glassdoor, the website that gives users information on companies, the work culture and salaries, has been bought by Recruit Holdings, a Japanese human resources company. With the deal going through for a staggering $1.2 Billion, this is one of the largest technology acquisitions of 2018.

The popular job portal hadn’t been able to get new funding for the past two years, which might have been the trigger for this decision. The choices that Glassdoor had were to try and raise more money, go public or sell – they seem to have gone with the third choice. The company was recently valued by investors at around $850 Million.

There were reports in early 2018 that the company was considering an IPO in the second half of the year.

Glassdoor Chicago Office Tom Harris - Urban Papyrus

Glassdoor offices in Chicago | Courtesy: Tom Harris

It’s interesting to note that Recruit Holdings, also owns the job site Indeed.

Other than just job listings, Glassdoor allows employees to anonymously review the companies they work for and even rate the CEO which makes it quite a useful site for people evaluating companies during a job hunt.

Post this deal, Recruit Holdings’ stock prices rose by as much as 3% on the Tokyo Stock Exchange.

Glassdoor’s co-founder Robert Hohman and Hisayuki Idekoba, the COO of Recruit Holdings have had a professional relationship for years and have reportedly discussed in the past that the two companies would do better if combined.

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AER loves gummy bears and dogs. And also occasionally writes on this platform. (Go Figure!)
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