CareerBuilder

Last updated
CareerBuilder
CareerBuilder logo horizontal-desktop BLACK R.svg
Type of site
 Job search engine
Available inMulti-lingual
HeadquartersChicago, Illinois, United States
Owner Apollo Global Management and Ontario Teachers' Pension Plan
Key peopleSue Arthur (CEO)
Revenue Increase2.svg US$714 million (2016) [1]
Employees3,000 (2012)
URL www.careerbuilder.com
CommercialYes
RegistrationOptional
Launched1995
Current statusActive

CareerBuilder is an employment website founded in 1995 that operates in the United States, Canada, Europe, and Asia. In 2008, it had the largest market share among online employment websites in the United States, where it was founded. [2] CareerBuilder provides labour market information, talent management software, and other recruitment related services. The company is majority-owned by Apollo Global Management. [3]

Contents

International scope

CareerBuilder operates sites in 23 countries outside the U.S., and has a presence in over 60 markets. In 2011, CareerBuilder acquired JobsCentral [4] in Singapore and JobScout24 [5] in Germany. In 2014, CareerBuilder acquired the recruiting technology company Broadbean in the U.K. [6]

CareerBuilder operates in various countries including Canada, France, Germany, India, Sweden and the United Kingdom with the same name. The company has a number of subsidiaries such as Kariera.gr in Greece, Cao-emplois.com, Erecrut.com, Ingenieur-emplois.com, LesJeudis.com, PhonEmploi.com and Recrulex.com in France, economicmodeling.com, oilandgasjobsearch.com, Jobmedic.co.uk and Toplanguagejobs.com in the United Kingdom, and Textkernel in the Netherlands. It also operates niche job search sites including Sologig.com, Headhunter.com, CareerRookie.com, MiracleWorkers.com, WorkinRetail.com, and JobsInMotion.com.[ citation needed ]

Company information

CareerBuilder is majority-owned by Apollo Global Management. [7] Previously, It was jointly owned by Tegna Digital, The McClatchy Company, and Tribune Media. [8] [9]

CareerBuilder is headquartered in Chicago, Illinois, with its IT headquarters in Peachtree Corners, Georgia, and its international headquarters in London, England. In 2012, the company had about 3,000 employees globally. [10]

History

CareerBuilder was founded by Robert J. McGovern [11] in 1995 under the name NetStart Inc. [10] They originally sold software allowing companies to list job openings on their Web sites and to manage the incoming e-mails those listings created.

In 1996, Netstart raised $2 million in investment. [12] [13]

In 1998, NetStart Inc. changed its name to CareerBuilder and raised another $7 million in investment. [14] [15]

In 1999, the company's IPO raised $8 million more than initially forecasted, but was less successful than other Net offerings of the time. In its first day of trading, the stock opened at $17.50 and rose as high as $20 before closing at $16. [16] Microsoft acquired a minority stake in the company in exchange for using the company's database on their own web portal. [17] [18]

In July 2000, the company was purchased in a joint venture by Knight Ridder and Tribune Company [19] for $8 a share [20] . CareerBuilder acquired competitors CareerPath.com and later Headhunter.net which had already acquired CareerMosaic. Even after the acquisitions, CareerBuilder still trailed behind top employment sites likeMonster.com and Hotjobs.com. [21]

In 2001, major newspapers owned by Knight Ridder and the Tribune Company merged their help wanted sections with the online component. [22]

In March 2002, Robert McGovern was replaced as CEO of the company by Robert Montgomery. [23] Gannett purchased a one-third interest in the company for $98.3 million in 2002, adding the CareerBuilder brand to its 90 newspapers nationwide. [24] The company suffered major difficulty because of the dot com crash and nearly went bankrupt.

The McClatchy Company purchased Knight Ridder for $4.5 billion in stock and cash in March 2006. [25]

In December 2008, the company announced layoffs affecting approximately 300 employees.

In September 2012, the company acquired Economic Modeling Specialists Intl. (EMSI), an economic modeling software firm based in Moscow, Idaho. [26] EMSI was sold to Strada Education Network in April 2018. [27]

In 2016, CareerBuilder and Capella University launched the RightSkill program. [28] The company also expanded into background screening with the acquisition of Aurico and post-hire software with the acquisition of WORKTERRA. [29] [30]

In June 2017, CareerBuilder was purchased by the private-equity firm Apollo Global Management and the Ontario Teachers’ Pension Plan Board. [31] In September of that year, CareerBuilder laid off 120 employees. [31] Irina Novoselsky was appointed as CEO in October 2017, and in July 2021, was replaced as CEO by Sue Arthur from Optum. [32]

Awards

In April 2006 CareerBuilder.com's site was nominated for a Webby Award in the employment category. In May 2019, CareerBuilder received a Bronze Stevie Award for the AI Resume Builder. [33]

Consumer complaints

According to two consumer complaints received by the office of Illinois Attorney General, Lisa Madigan, and reports from other states, scam artists have been contacting job hunters through CareerBuilder.com regarding a "Donations Handler" position with an international charity. The agreement is a classic pigeon drop. The "handler" accepts checks sent in the mail from Peachtree Corners, Georgia and is required to wire transfer the amount to an international account within 24 hours, but the checks are later discovered to be fraudulent. Victims reported losing between $500 and $2,000 in this scheme. [34]

See also

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References

  1. ↑ "CareerBuilder Underscores Lead in Traffic and Revenue". CareerBuilder. Retrieved 21 May 2014.
  2. ↑ Wilkerson, David B. "CareerBuilder to launch $250 million ad campaign", MarketWatch, January 22, 2008. Accessed February 6, 2008.
  3. ↑ "Apollo Global Management-affiliated Funds and Ontario Teachers' Agree to Acquire a Controlling Interest in CareerBuilder". www.businesswire.com. 2017-06-19. Retrieved 2023-06-08.
  4. ↑ Wauters, Robin (5 May 2011). "CareerBuilder Expands To Southeast Asia With Purchase Of Singapore's Jobscentral". TechCrunch. Retrieved 1 October 2012.
  5. ↑ Rahn, Cornelius (14 September 2011). "Deutsche Telekom Sticks to Internet Plan After JobScout24 Sale". Bloomberg. Retrieved 1 October 2012.
  6. ↑ Raphael, Todd (1 April 2014). "CareerBuilder Buying Broadbean". ERE. Retrieved 14 July 2014.
  7. ↑ "Apollo Global-led investor group to buy CareerBuilder". Reuters. 19 June 2017. Retrieved 2018-01-05.
  8. ↑ de la Merced, Michael J. "Times Company Forms Alliance With Job-Listing Web Site", The New York Times , February 15, 2007. Retrieved February 6, 2008. "Three of the largest newspaper chains — the Tribune Company, the Gannett Company and The McClatchy Company — own CareerBuilder, among the largest help-wanted sites."
  9. ↑ "CareerBuilder: About Us" . Retrieved 20 January 2012.
  10. 1 2 "CareerBuilder Timeline" . Retrieved 20 January 2012.
  11. ↑ Rajiv Chandrasekaran, "Tapping Into a Web of Aspirations; NetStart Helps Firms With Online Job Hunts", The Washington Post, Dec. 30, 1996, p. F13
  12. ↑ "High-Tech Turks Lure Big-Buck Backers; Outside Investment Grows but Trails Other U.S. Centers", The Washington Post
  13. ↑ Rajiv Chandrasekaran, "Tapping into a Web of Aspirations; NetStart Helps Firms With Online Job Hunts", The Washington Post, Dec. 30, 1996, p. F13. Retrieved December 11, 2008
  14. ↑ "Building a Career Path", The Washington Post, Jan. 19, 1998, p. F05. Retrieved December 12, 2008
  15. ↑ Michael Selz, "Financing Small Business: Computerized Employee-Search Firms Attract Investors", The Wall Street Journal, Jan. 13, 1998, p. 1. Retrieved December 12, 2008
  16. ↑ Jerry Knight, "TECH INVESTOR; Reston Firm Holds IPO", The Washington Post, May 13, 1999, p. E04. Retrieved December 12, 2008
  17. ↑ Job Search. Archived from the original on 21 May 2014. Retrieved 21 May 2014.
  18. ↑ John Schwartz, "Microsoft Buys Into Reston Firm; Stake in CareerBuilder Adds Job Database to Web Portal", The Washington Post, May 25, 1999, p. E02
  19. ↑ "Business Brief -- CAREER BUILDER INC.: Knight Ridder and Tribune Agree to Buy Firm Jointly", The Wall Street Journal, Jul. 18, 2000, pg. 1. Retrieved December 12, 2008
  20. ↑ Amy Joyce, Peter Behr,"CareerBuilder of Reston Sells for $200 Million", The Washington Post, Jul 18, 2000, pg. E01. Retrieved December 12, 2008
  21. ↑ James Peter Rubin, "Breakaway (A Special Report) --- Web Workers: More small businesses are filling vacancies from an ever-growing pool of Internet candidates", The Wall Street Journal, Oct. 23, 2000, pg. 8. Retrieved December 12, 2008
  22. ↑ Christopher Stern, "CareerBuilder to Buy Competing Web Site", The Washington Post, Aug, 27, 2001, pg. E05. Retrieved December 12, 2008
  23. ↑ Cynthia L. Webb, "CareerBuilder Under New Management :[FINAL Edition]", The Washington Post,Mar 5, 2002, pg. E05. Retrieved December 12, 2008
  24. ↑ Stuart Elliott, "Gannett Buys Interest In CareerBuilder", The New York Times (Late Edition (east Coast)), Oct. 4, 2002, p. 6. Retrieved December 12, 2008
  25. ↑ KATHARINE Q. SEELYE and ANDREW ROSS SORKIN, Jennifer 8. Lee and Carla Baranauckas contributed reporting for this article., "Newspaper Chain Agrees to a Sale for $4.5 Billion." The New York Times (Late Edition (east Coast)), p. A.1, Mar. 13, 2006. Retrieved December 12, 2008
  26. ↑ "CareerBuilder Acquires Economic Modeling Firm". Talent Management. 11 September 2012. Retrieved 1 March 2013.
  27. ↑ "CareerBuilder Sells Labor Market Analytics Firm Emsi to Strada". 25 April 2018.[ permanent dead link ]
  28. ↑ "About - RightSkill". RightSkill. Retrieved 2017-01-13.
  29. ↑ "CareerBuilder expands into background screening and drug-testing with Aurico acquisition". www.aurico.com. 2 March 2016. Retrieved 2017-01-13.
  30. ↑ "CareerBuilder expands into employee benefits and talent management with Workterra acquisition". VentureBeat. 6 September 2016. Retrieved 2017-01-20.
  31. 1 2 "CareerBuilder lays off 120 after being acquired". Crain's Chicago Business. 2017-09-27. Retrieved 2019-09-20.
  32. ↑ "CareerBuilder names Sue Arthur CEO". Chicago Business Journal. 2021-07-22. Retrieved 2021-08-14.
  33. ↑ "CareerBuilder's AI Resume Builder Honored as Stevie® Award Winner in the Artificial Intelligence/Machine Learning Solutions Category".
  34. ↑ "Scam Targets Job Hunters on Careerbuilder.com". Consumer Affairs. Retrieved 21 May 2014.
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