Indeed

Last updated

Indeed, Inc.
Indeed logo.svg
Type of business Subsidiary (independent)
Type of site
 Job search engine
FoundedNovember 2004;19 years ago (2004-11)
Headquarters Austin, Texas, U.S.
Stamford, Connecticut, U.S.
Founder(s)
  • Paul Forster
  • Rony Kahan
CEOChris Hyams
Employees14,600+
Parent Recruit
URL indeed.com
CommercialYes
Registrationrequired
Current statusActive
[1] [2]

Indeed, Inc. is an American worldwide employment website for job listings launched in November 2004. It is an independent subsidiary of multinational company Recruit Holdings. It is headquartered in Austin, Texas, and Stamford, Connecticut, with additional offices around the world. [3] As a single topic search engine, its central functionality is also an example of vertical search. Indeed is currently available in over 60 countries and 28 languages. In October 2010, Indeed.com surpassed Monster.com to become the highest-traffic job website in the United States. [4]

Contents

The site aggregates job listings from thousands of websites, including job boards, staffing firms, associations, and company career pages. It generates revenue by selling premium job posting and resume features to employers and companies hiring. [5] In 2011, Indeed began allowing job seekers to apply directly to jobs on Indeed's site [6] and offering resume posting and storage. [7]

History

Indeed was cofounded by Paul Forster and Rony Kahan in 2004 in both Austin, Texas, and Stamford, Connecticut. [8] The Stamford offices house the company's sales, client services, finance, and human resources teams, while the product development staff is based in Austin. [3]

In 2005, Indeed launched the beta version of their "pay-per-click job advertising network". [9] In addition to searching job postings, it allows the frequency of specific words within these postings to be tracked over time, serving as a potential indicator of trends in the job markets. The company took an investment round of $5 million in funding from Union Square Ventures, The New York Times and Allen & Company. [10]

Indeed operates in the UK via Indeed UK Operations Ltd, which is a subsidiary of Indeed Operations Ireland Ltd, whose ultimate holding company is Recruit Holding Co Ltd. Turnover in the UK for the year to 31 December 2019 was £41.2m.[ citation needed ]

On October 1, 2012, Indeed became an independent operating unit of Japan-based Recruit Co. Ltd. [11]

On July 1, 2016, Recruit Holdings Co., Ltd. announced that it had acquired the assets of Indeed's competitor Simply Hired, which would become a publishing partner of Indeed. [12]

On June 21, 2018, Recruit Holdings Co., Ltd. announced that it had acquired the assets of Glassdoor, which will operate as a distinct and separate part of its growing HR Technology business segment, aligning Glassdoor and Indeed as sister companies. [13]

On May 30, 2019, Indeed announced that it had signed an agreement to acquire Syft, a leading recruiting platform for the hospitality, event, and light industrial sectors in the UK. [14]

On July 12, 2019, Indeed announced that it had signed an agreement to acquire ClickIQ, an automated job advertising technology platform based in the UK. [15]

On March 22, 2023, Indeed announced that they would be laying off 2,200 employees, stated to be 15% of their workforce. [16]

On May 13, 2024, Indeed laid off approximately 1,000 employees Monday, or about 8% of the company. Indeed CEO Chris Hyams announced on May 13 in a letter to employees, a move driven in part by "a global slow-down in hiring," the message said. The vast majority of the layoffs were in the U.S., Hyams said, largely within R&D and the go-to-market teams. "While the global economy has improved in several areas over the past year, we are not yet set up for sustainable growth," Hyams said. “Despite our efforts so far, our organization is still too complex,” he continued, indicating that the company is aiming to "simplify" areas of the business to make decision-making faster. [17]

Sponsorship

Indeed is currently the main sponsor of German soccer club Eintracht Frankfurt. [18]

See also

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References

  1. ↑ "Leadership". Indeed.com. Archived from the original on June 11, 2022. Retrieved May 2, 2022.
  2. ↑ "About Indeed". Indeed.com. Archived from the original on May 3, 2022. Retrieved May 2, 2022.
  3. 1 2 "Indeed announces plans for several hundred new Stamford jobs". Stamford Advocate . Stamford, CT. Archived from the original on January 31, 2020. Retrieved January 20, 2018.
  4. ↑ Schonfeld, Erick (November 17, 2010). "Indeed Slips Past Monster, Now Largest Job Site by Unique Visitors". TechCrunch. Archived from the original on December 24, 2019. Retrieved December 9, 2010.
  5. ↑ "8 Alternatives to Indeed | Job Search". Bagsy. October 5, 2019. Archived from the original on May 31, 2020. Retrieved October 5, 2019.
  6. ↑ "New Feature: Indeed Apply". Resfly Blog. Resfly. Archived from the original on February 23, 2012. Retrieved February 21, 2012.
  7. ↑ Zappe, John (September 14, 2011). "Indeed Makes It Official and Launches Resume Search". ere.net. Archived from the original on September 23, 2011. Retrieved January 12, 2014.
  8. ↑ "Founders". InternetInc.com. Archived from the original on August 10, 2014. Retrieved August 23, 2014.
  9. ↑ Baker, Loren (May 16, 2006). "Indeed.com Launches Job Search PPC Advertising Network". Search Engine Journal. Archived from the original on January 31, 2020. Retrieved April 9, 2008.
  10. ↑ Shontell, Alyson (September 25, 2012). "Indeed, An Almost Entirely Bootstrapped Job Search Giant, Gets A Monster Exit". Business Insider. Archived from the original on February 28, 2018. Retrieved February 28, 2018.
  11. ↑ "Indeed Announces Acquisition by Recruit Co. Ltd" (Press release). Indeed. Archived from the original on January 13, 2014. Retrieved October 1, 2012.
  12. ↑ Lunden, Ingrid. "Indeed owner Recruit Holdings confirms acquisition of Simply Hired". TechCrunch. Archived from the original on November 26, 2019. Retrieved July 1, 2016.
  13. ↑ "Recruit Holdings Announces Completion Of Glassdoor Acquisition" (Press release). Glassdoor. Archived from the original on September 21, 2021. Retrieved June 21, 2018– via PR Newswire.
  14. ↑ "Indeed confirms acquisition of Syft" (Press release). Indeed. Archived from the original on December 24, 2019. Retrieved May 30, 2019.
  15. ↑ "Indeed announces acquisition of automated recruitment technology platform ClickIQ" (Press release). Indeed. Archived from the original on June 30, 2021. Retrieved July 12, 2019.
  16. ↑ Jones, Abigail; Al-Shaikh, Sarah (March 22, 2023). "Indeed laying off 15% of staff, around 2,200 people". KXAN. Nexstar. Archived from the original on March 22, 2023. Retrieved March 22, 2023.
  17. ↑ Novak, Shonda. "Austin-based Indeed.com cutting about 1,000 jobs, or roughly 8% of its global workforce". Austin American-Statesman.
  18. ↑ Bassam, Tom (August 16, 2019). "Eintracht Frankfurt extend Indeed shirt deal through 2023 – SportsPro Media". www.sportspromedia.com. Archived from the original on May 25, 2021. Retrieved May 25, 2021.


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