U.S. job search site, Glassdoor announced on Tuesday that it has been acquired by Japan-based Recruit Holdings for $1.2 billion. Recruit plans to operate Glassdoor as a part of its HR Technology business.
"Glassdoor has transformed how people search for jobs and how companies recruit. Joining with Recruit allows Glassdoor to accelerate its innovation and growth to help job seekers find a job and company they love while also helping employers hire quality candidates," said Robert Hohman, Glassdoor CEO and co-founder, who will continue to lead the company.
“Our mission has been the same since day one: to help people everywhere find a job and company they love. That mission will not change as part of Recruit. ” Hohman continued.
Glassdoor launched back in 2008 and has now become one of the largest job sites in U.S., reporting nearly 59 million users on its platform per month. The company has raised just over $200 million from investors, with the most recent one back in 2016 for $40 million, putting its valuation at over $1 billion, according to TechCrunch.
Recruit was founded in 1960 and specialized in a wide range of services from HR technology, recruitment advertisement, employment placement to real estate, bridal and beauty.
Both the companies operate across many countries around the world, with a combined employee base of about 52,000.
The combined company share similar aspects in their advertisement and employment placement segments. The two together will be able to dominate the industry of job recruitment at a global scale, reaching over 190 countries.