 | |
| Company type | Subsidiary |
|---|---|
| Industry | Employment agency |
| Founded | 1967 |
| Headquarters | 133 Boston Post Road Building 15 Weston, Massachusetts [1] |
Area served | Worldwide |
| Parent | Randstad Holding |
| Website | corporate |
| Footnotes /references [2] [3] | |
Monster Worldwide, Inc., formerly TMP Worldwide, [4] is an American provider of employment services, most notably Monster.com. [5] Through online media sites and services, the company delivers targeted audiences to advertisers.[ citation needed ]
In 1967, [1] Andrew McKelvey founded Telephone Marketing Programs (TMP), a directional marketing company, focused on Yellow Pages advertising. [6] In 1993, McKelvey partnered with recruitment advertising innovator Don Tendler, formerly of Davis & Dorand, to launch and grow a recruitment division for TMP.[ citation needed ]
In 1995, TMP's recruitment division acquired The Monster Board and Online Career Center (OCC). TMP Worldwide went public in 1996 and its career websites grew and eventually merged as Monster.com in 1999.[ citation needed ]
Also in 1999, TMP Worldwide acquired LAI Worldwide, [7] [8] formerly Lamalie Associates, to create an executive search division.[ citation needed ]
TMP Worldwide was officially renamed Monster Worldwide in May 2003, [9] [5] with its divisions Monster, TMP Worldwide Advertising & Communications and TMP Worldwide Directional Marketing all keeping their names. [5] The former eResourcing and Executive Search divisions of TMP were also spun off to create Hudson Highland Group. The Yellow Pages directional marketing division was sold in 2005.[ citation needed ]
On August 31, 2006, Monster Worldwide's advertising and recruitment operations split to form TMP Worldwide Advertising & Communications, LLC in a US$45 million management buyout. [10] [11]
James J. Treacy (1959-2020), who served as president and CEO of Monster, was charged of conspiring with other officers of the company to systematically backdate option grants over a period from 1997 to 2003. He was found guilty by a jury in May 2009 in the United States District Court for the Southern District of New York, and was ultimately sentenced to serve two years in prison. [12]
In August 2016, Monster Worldwide was acquired by Dutch resource services provider Randstad for US$429 million. [13] [14]
On 1 July 2024, Randstad agreed to transfer a controlling interest in Monster Worldwide to CareerBuilder, LLC, represented by the latter's investors, including Apollo Funds. Randstad was to continue to hold a minority stake. The new company structure was to include senior executives from both companies. [15]
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