Indeed Is Becoming The Google Of Job Search

Indeed Is Becoming The Google Of Job Search

Vickie ElmerQuartz | Mar. 5, 2013, 9:13 AM | 3,991 | 1

Indeed is turning into the Google of job search.

The web site announced today that it has reached 100 million unique visitors worldwide in January, a 20% gain since late September. By some measures, the company is now bigger than Monster.

In a blog post and media announcement, Indeed said it accounts for more than half of online job searches in the United States and placed more people in jobs last year than CareerBuilderLinkedIn and Monster combined.  Its fastest growth occurred in Russia, India, South Africa, Australia and Japan.

Launched in 2004, Indeed operates as an aggregator of job listings, pulling them in from across the internet. ”We provide the best experience possible for job seekers. We do that by having the most jobs,” says Chris Hyams, a vice president of Indeed. The company has a team of people “dedicated to finding jobs online where we haven’t found them before.”

It also has focused on international growth, adding offices in Dublin, London, Toronto and Tokyo, among others, in the last two years.

Monster Worldwide, meanwhile, has sold or exited operations in China, Mexico, Brazil and Turkey, and has said weakness in Europe is hurting global operations. The company has gone through two rounds of layoffs in the last year, and is restructuring to a “leaner, more focused company.”

While most other large US job sites’ audiences shrank, Indeed was No. 1 in that category, with a 26% increase in unique visitors in the year ended in January, according to comScore Media Metrix. Six of the 10 leading job sites saw declines in traffic, compared to January 2012.

Indeed’s site has the same clean look as Google’s and it earns revenues the same way too. Companies that want its job listings to show up more prominently pay for placements and clicks, and those listings are at the top and bottom of job seekers’ searches, said Hyams.

But in a broader career services category, which includes career resources and training, Monster has the lead, and Indeed and CareerBuilder are tied for second. Also, Monster’s US audience numbers are climbing compared to a year ago, rising double digits in both comScore’s job search and careers categories. In a statement, Monster called itself the “premier global online employment company with a presence in more than 40 countries… We have the widest range of job opportunities across the employment spectrum as well as the most diverse talent to fill those positions.”

But Monster, which is publicly traded, has lost money in several recent quarters, and reported on Feb. 7 that bookings—the value of all orders received in the quarter—dropped 30% in Europe, while total bookings were down 13%.

LinkedIn had no comment.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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