Glassdoor sold to Japan-based Recruit Holdings for $1.2 billion
US-based job and recruitment company Glassdoor has been acquired by Japanese human resources giant Recruit Holdings for $1.2 billion in an all-cash deal. Glassdoor, where people can leave anonymous reviews, is well known for providing greater workplace transparency and insights into work cultures. The deal is expected to close in the summer, subject to regulatory approvals.
Glassdoor will continue to maintain its brand post acquisition
Glassdoor CEO and co-founder Robert Hohman will continue to lead the company after the acquisition as Recruit Holdings plans to operate Glassdoor as a distinct part of its HR Technology business segment. So far, Glassdoor has raised a total of $204.5 million, with its last funding round (series H) of $40 million taking place in March 2016. The company is valued at $1 billion.
Company statements
"Our mission is to help people everywhere find a job they love. Glassdoor will continue to operate as a distinct brand to fulfill this mission—and do so with greater speed and impact," Hohman said. "Glassdoor presents a powerful platform that is changing how people find jobs. We're excited to help them continue to grow and deliver value," said Hisayuki Idekoba, COO of Recruit.
Glassdoor features over 40 million reviews and insights.
Launched in 2008, Glassdoor sees 59 million people on its platform every month who come to read company reviews, CEO approval ratings, salary information, and interview questions. Glassdoor currently has data on 770,000 companies in 190 countries and over 40 million reviews and insights. Glassdoor's revenue comes from providing recruitment solutions to 7,000 employers, including 40% of Fortune 500 companies.
Recruit has also acquired US-based Indeed.com and Simply Hired
Founded in 1960, the Recruit Group is a $39-billion Japanese corporate that specializes in HR and recruitment services. The company operates a wide range of services, including HR technology, recruitment advertisement, employment placement, and staffing. It has more than 45,000 employees and operates in over 60 countries. Previously, the company has acquired US-based job websites Indeed.com (2012) and Simply Hired (2016) as well.
