Jobs Site Glassdoor Is Sold to Recruit Holdings for $1.2 Billion
Jobs site Glassdoor is getting sold to Japanese human resources giant Recruit Holdings in an all-cash deal worth $1.2 billion.
Glassdoor, the popular job aggregation site in which people can leave anonymous reviews, will continue operating as an independent member of Recruit Holdings’ HR tech business unit, Glassdoor said this week.
Glassdoor CEO and co-founder Robert Hohman will continue leading the company after the deal is expected to close in the summer, pending regulatory reviews.
The job review company was founded in 2007 and has raised about $204.5 million in funding from investors like T. Rowe Price, Battery Ventures, and Sutter Hill Ventures, according to deal-tracking service Crunchbase.
In 2016, when Glassdoor raised $40 million in funding, the company said it had a private valuation of “around $1 billion.”
“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,” Hohman said in a statement. “I look forward to leading Glassdoor through this exciting new chapter, and to exploring ways to use our combined resources and assets to benefit job seekers, employees and employers once the deal closes.”
Since its debut, Glassdoor said it has accumulated data on more than 770,000 companies in more than 190 countries.
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The Mill Valley, Calif., based Glassdoor will now join the popular job recruitment service Indeed and Simply Hired as a new unit of Recruit Holdings.
“Glassdoor is an impressive company with strong leadership, mission, products, clients and employees,” Recruit COO Hisayuki Idekoba said in a statement. “We are excited to help them continue to grow and deliver value to the job seekers and employers they serve.”