Glassdoor Sold for $1.2 billion- Could an IPO be in the works? – CWEB.com
Japanese HR Company Recruit has agreed to buy Glassdoor for $1.2 billion. With 59 million monthly members, Glassdoor will accelerate growth into international markets. The deal with HR Company “Recruit” is expected to close in September 2018. Recruit also own the jobs employment website “Indeed.”
Glassdoor runs the second-largest job website in the U.S. Haitong International Japaninvest KK analyst Yushi Kawamoto mentions that Recruit has paid 7 times earnings, which was a sweet spot in the deal.
Two years ago, the company was valued at $860 million. Decisions will be made if the company will go public to raise more money. Could an IPO on the horizon for Glassdoor? Sutter Hill Ventures, Battery Ventures, and Benchmark were early investors in Glassdoor.
Job seekers look to reviews about the companies they are applying to gain feedback and insight on a company’s culture, salary and interview styles. Glassdoor allows people to stay anonymous when posting a review about their job experience at a company they work for or previously worked for. People can give reviews as to what management can do to improve from an employee’s point of view when they have worked at a company.
Are the figures correct in the salary data that is listed on a company’s profile? The wage speculation can be quite wide for what employees are paid in particular departments. Of course, data reflecting CEO’s compensation is more accurate as that is public data if the company is publically traded.
The company Comparably takes things a step further allowing you visualize deep data about salaries and the work culture environment. The site has many tools to use for salary data and other tools to help you comprise data for your next salary negotiation. Comparably offers visitors to their site an Infographic user survey tool with a drop-down menu in a question and answer format. The breakdowns are divided into demographics of the participants who took the survey.
For example, the survey question, Q: How long did you have to wait before you heard a response to your last interview? The answer comes up with an easy to use Infographic that allows you to see the data for each gender. You can see the disparity between the Caucasian group, which received a reply from an interview of “Within a week at the most among all other ethnicities,” compared to African Americans who answered “4+ Weeks after an interview,” which were the least among all other ethnicities.
Comparably has a quick salary tool where you can punch in the job title, salaries, and zip code to see data for a specific job title in a specific industry. When you are in your salary negation phase of a job opportunity, the data is quite useful for seeking out salary data categorized by department.
Job seekers can anonymously rate their workplaces, discover company cultures that better fit their needs, and compare salaries and equity compensation. Employers can embrace the website comparing their own company culture, and industry benchmarks to other companies to help recruit top talent.
Jason Nazar, CEO & co-founder of Comparably, a new HR focused startup, and an active entrepreneur who started Docstoc which had over 50 million members. The company was sold to Intuit in 2013. Jason is currently serving as one of two Entrepreneurs in Residence for the City of Los Angeles, appointed by Mayor Garcetti. Jason was named one of the “Most Admired CEOs in Los Angeles” by the LA Business Journal
Chief executive and co-founder, Robert Hohman, will remain at the helm of Glassdoor.