Recruitment platform Monster has been acquired by the Netherlands based human resources (HR) consulting network Randstad for $429 million reports VentureBeat. The deal represents a per-share price of $3.40, down significantly from the company’s peak share value of $91 in the year 2000.
Post acquisition, Monster will continue to operate as a ‘separate and independent entity under the Monster name’. For Randstad, the deal represents an extension of its offline services to the online market. As of now the company claims to place around 2 million people in jobs each year. In a statement, Randstad said it would, “bridge two different but complementary parts of the extended recruiting industry to build the world’s most comprehensive portfolio of HR services.”
Monster’s Jobr acquisition: In June, Monster Worldwide acquired Jobr, a mobile job discovery app. At the time, the company said that it intends to utilise the Jobr team and core assets to expand Monster’s mobile capabilities and accelerate the development of its recruiting platform on mobile.
Monster India financials: Monster India reported total revenues of Rs 171.73 crore for FY-2015, up 6.9% from 160.67 crore in the previous year. The company also reported a net profit of Rs 12.87 crore for the year, up 146.5% from Rs 5.22 crore in the previous year.
Sale of companies from the dot-com era: Monster went public in 1996, with its stock peaking at $91 during the dot-com bubble in 2000. Its sale at stock value of $3.40 is in the lines of other dot-com era giants AOL and Yahoo selling at significantly lower value than their peak value. In May last year, AOL sold to Verizon for $4.4 billion, a far cry from the $1 billion offered for 5% of its shares by Google in 2005. Similarly, Yahoo also sold to Verizon for $4.8 billion in July this year, whereas it was valued at over $125 billion at its peak in 2000.
Past Developments at Monster:
– In February, Monster had announced that it is extending its social job ads platform to include Facebook, which will increase the reach of the product to over 60% of the UK internet population who regularly use the platform.
– In November 2014, Monster tied up with CSC eGovernance Services India, a governance portal by the Department of Information and Technology, to launch a new e-KYC based job portal for rural India. Earlier in 2009, it had also partnered with ITC to create RozgarDuniya using the e-chaupals kiosk network.
– In February 2014, it had acquired TalentBin, a social profile talent search engine, and Gozaik, a developer of social jobs aggregation and distribution technology.
– In February 2010, the company had acquired Yahoo!’s Hotjobs sub site for $225 million to power job classifieds for Yahoo!’s homepage in the United States and Canada for three years.