Monster Worldwide

Last updated
Monster Worldwide, Inc.
Industry Employment agency
Founded1967;58 years ago (1967)
Area served
Worldwide
Website corporate.monster.com
Footnotes /references
[1] [2]

Monster Worldwide, Inc., formerly TMP Worldwide, [3] was an American company provider of employment services owned by Zen, JV, LLC. Just recently, Zen, JV, LLC entered into a Chapter 11 bankruptcy procedure where it sold some of its assets, including its job board technology operated by Monster Worldwide, to MCB Bermuda, Ltd, a subsidiary of Bold Holdings LLC.

Contents

History

In 1967, [4] Andrew McKelvey founded Telephone Marketing Programs (TMP), a directional marketing company, focused on Yellow Pages advertising. [5] 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, [6] [7] formerly Lamalie Associates, to create an executive search division.[ citation needed ]

Monster Worldwide

TMP Worldwide was officially renamed Monster Worldwide in May 2003, [8] [9] with its divisions Monster, TMP Worldwide Advertising & Communications and TMP Worldwide Directional Marketing all keeping their names. [9] 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 ]

Radancy

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]

Option backdating

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]

Randstad

In August 2016, Monster Worldwide was acquired by Dutch resource services provider Randstad for US$429 million. [13] [14]

CareerBuilder

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]

See also

References

  1. ↑ "FORM 10-K".
  2. ↑ "FORM 10-K".
  3. ↑ "Monster name change for TMP Worldwide". CNET. Retrieved 2023-12-21.
  4. ↑ "Monster Worldwide - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2023-12-21.
  5. ↑ "TMP Worldwide official website".
  6. ↑ "Yellow Pages Giant TMP to Acquire Executive-Search Firm LAI Worldwide". wsj.com. 17 March 1999.
  7. ↑ "COMPANY NEWS; TMP WORLDWIDE IS BUYING LAI IN $84 MILLION STOCK DEAL". The New York Times . Bloomberg News. 1999-03-12. ISSN   0362-4331 . Retrieved 2023-12-21.
  8. ↑ "Monster name change for TMP Worldwide". CNET. April 30, 2003. Retrieved 2023-12-21.
  9. 1 2 Brown, Rodney (2003-04-28). "Monster brand eats up TMP Worldwide; company to become Monster Worldwide". Boston Business Journal .
  10. ↑ "TMP opts for $45M management buyout from Monster". Boston Business Journal . 2006-09-01.
  11. ↑ "TMP Worldwide | LinkedIn". www.linkedin.com. Retrieved 2023-12-21.
  12. ↑ "Monster Ex-Chief Is Found Guilty". The New York Times . Reuters. 2009-05-12. Retrieved 2009-05-13.
  13. ↑ "Randstad Acquires Monster Worldwide for $429 Million". www.linkedin.com. Retrieved 2023-12-21.
  14. ↑ "Randstad to buy US rival Monster for $429 million". CNBC. 2016-08-09. Retrieved 2023-12-21.
  15. ↑ MarketScreener (2024-07-01). "CareerBuilder, LLC has reached an agreement to acquire Monster Worldwide, Inc. from Randstad N.V." MarketScreener. Retrieved 2024-08-02.


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