Breaking News

Glassdoor Purchased by Japanese Firm for $1.2 Billion
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

law firm office

Summary: The job site Glassdoor has been purchased by a Japanese firm for $1.2 billion. 

In an amazing cash deal, Japanese firm Recruit has purchased job site, Glassdoor, for $1.2 billion, according to the Wall Street Journal. 

  
What
Where


Recruit is a Tokyo-based human resources company worth $39 billion, and they plan on operating their latest purchase, Glassdoor, which was founded in 2008 and is one of the most popular websites for employees to find out insights about various companies.

Glassdoor CEO Robert Hohman said that the sale will not change the Glassdoor brand.

“Our mission has been the same since day one: to help people everywhere find a job and company they love. That mission will not change as part of Recruit. Glassdoor will continue to operate as a distinct brand to fulfill this mission — and will be able to do so with greater speed and impact than we could achieve alone,” Hohman said.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




In 2016, Glassdoor had been evaluated to have a worth of $1 billion, after raising $40 million in a series H, according to Tech Crunch. The website had raised $200 million since its creation in 2008, and it was backed by firms such as Benchmark and Battery Ventures.

“[Glassdoor’s evaluation is] not a huge amount more than what Recruit is paying, which suggests that the last couple of years haven’t been so spectacular for Glassdoor in terms of growth,” Tech Crunch said.



Glassdoor has stated that it has 59 million visitors a month, and these visitors check out company reviews and insights left by former and current employees. These insights include salary amounts and insider information about work environments.

Glassdoor’s revenues come from its recruitment services, according to Tech Crunch, and it is a popular website in the United States. Recruit, on the other hand, is not well known in the US but is very popular in Japan.

Recruit was founded in 1960 and has 45,000 employees spread across 60 countries. In 2012, it purchased Indeed, another popular American HR website. In addition to recruitment services, it has expanded its reach into other avenues such as travel by buying other websites.

The deal cannot go through until there is regulatory approval, and this is not expected to happen until this summer. According to Bloomberg, this deal would benefit Glassdoor because it would allow them to move into non-US markets, and it would help Recruit because it would gain access to Glassdoor’s library of user-submitted reviews and insights.

“Looking for jobs through employer reviews is becoming more popular, so buying Glassdoor not only grabs more users but also strengthens Recruit’s existing HR platform,” Yushi Kawamoto, an analyst at Haitong International Japaninvest KK, told Bloomberg. “Recruit is paying about seven times sales, which isn’t high. This will boost their competitiveness. So overall this is positive for Recruit.”

What do you think about Recruit’s pending purchase of Glassdoor? Let us know in the comments below.



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Litigation Associate Attorney

USA-MD-Baltimore

Baltimore office of our client seeks mid-level litigation associate attorney with 3+ years of experi...

Apply Now

Litigation Associate Attorney

USA-SC-Columbia

Columbia office is seeking a commercial litigation attorney with 2-4 years of experience.

Apply Now

Junior Employment Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking an attorney with 2-3 years of employment litigation, class action or...

Apply Now

Research and Writing Associate Attorney

USA-TX-Dallas

Dallas office of our client seeks research and writing associate attorney with 5+ years of experienc...

Apply Now

RELEVANT JOBS

Staff Attorney

USA-CA-Burlingame

We are seeking 2 part time Staff Attorneys to become a part of our team. The attorneys of the Law Of...

Apply now

Attorney

USA-KS-Great Bend

The law firm of Watkins Calcara Chartered in Great Bend has an opening for an additional attorney. T...

Apply now

Head of Human Resources and Business Development

USA-WI-Madison

SUMMARY OF POSITION:  Under the general supervision of the Director of Administration, the H...

Apply now

Paralegal/Legal Assistant

USA-WA-Spokane

Must be able to assist the attorneys at the office with a wide variety of tasks, including but not l...

Apply now

SEARCH IN ARCHIVE

To Top