Yahoo! and Monster – Dismantling the Yahoo! Empire
I got this interesting email from Monster today – another pillar being carved off and outsourced by Yahoo! First search goes to Bing, now Jobs to Monster. Check it out:
Monster To Acquire Yahoo!’s HotJobs
Today, we are excited to announce that Monster has entered into an agreement to acquire HotJobs that will provide you with unprecedented access to job seekers and make Monster the leading site for job seekers in the U.S.
Upon the close of the acquisition, Monster will also enter into a multi-year strategic agreement with Yahoo!, becoming the jobs and recruitment engine on Yahoo!’s homepage for both the U.S. and Canada.
HOW DOES THIS ACQUISITION AND MULTI-YEAR TRAFFIC AGREEMENT IMPACT YOU?
• Increased traffic to your jobs: Monster will become Yahoo!’s provider of career and job content on the Yahoo! homepage in the United States and Canada. This is not just a generic portal deal – people with a demonstrated interest in jobs and careers will be sent to Monster from Yahoo!. In fact, with an increase in qualified candidates, we expect that job response, our metric for apply per post, will increase significantly.
• Broader industry seeker mix: HotJobs brings new strengths to Monster in the form of healthcare, retail, finance and insurance seekers that complement Monster’s traditional strengths. As a Monster customer, you will be able to put your message in front of Monster’s and Yahoo!’s vast combined reach of career-minded candidates.
• Additional market presence: We will be able to leverage HotJobs’s strong reach in markets such as Atlanta, Houston, Los Angeles, and Phoenix.
• Increased local presence: This acquisition expands our newspaper partnership network to approximately 1,000 weekly and daily newspapers, giving you local reach in all 50 states.
THE RIGHT RESUMES.
With Monster’s larger and growing job seeker population, you will receive increased exposure for your jobs. Couple this with Monster’s innovative patented 6Sense™ search technology and our Power Resume Search product and you’ll receive precise, relevant resume results that match people with your opportunities faster and better than ever before.
In the immediate term and while we work to develop plans and programs that will deliver the value inherent in our new relationship, you can expect Monster and HotJobs to operate independently. Your Monster Account Manager will continue to provide world class support assisting you with all your recruitment needs. We will have much more to announce with respect to specifics after we conclude the regulatory process and close the transaction, which we currently expect to occur sometime in the third quarter of 2010. Until that time, if you have any questions, please reach out to your Monster Account Manager or call 1-800-MONSTER. In addition, you may read our press release or our frequently asked questions.
At Monster, you are one of our most valued customers and we wanted to share this exciting news with you. We are confident that today’s agreements will bring together the complementary strengths of Monster and HotJobs, thereby offering far greater opportunities, convenience and results for both employers and job seekers than ever before.
Senior Vice President, U.S. Sales