Acquisition will help Monster compete with Careerbuilder
Monster has bought Yahoo's online job board, HotJobs, for US$225 million.
Monster and Yahoo have also entered into a three-year commercial traffic agreement under which Monster will become Yahoo's exclusive provider of career and job content on the Yahoo homepage in the United States and Canada.
The acquisition of HotJobs will strengthen Monster's position as a provider of online job opportunities and global recruitment resources with an expanded customer base having access to even more talent, said Monster.
Monster predicts the acquisition will also allow the company to reach about 62 per cent of the U.S. Internet population. Monster will also expand its newspaper partnerships from 400 to 1,000 with the addition of 600 HotJobs daily and weekly newspaper partnerships.
The acquisition will help Monster better compete with Careerbuilder. According to Compete.com, for the past three months, Careerbuilder has had about 13 to 14 million unique visitors, while Monster has had about 10 million.
With HotJobs, Monster could have another five million unique views, however, Careebuilder has more partnerships with media outlets (1,600 partners compared to 1,000 for Monster/HotJobs).
