Acquisitions, TheMuse, and CareerBeacon: news of the job board industry

News roundupAmid reports of mar­ket soft­en­ing but also lots of acqui­si­tions, I have also seen what I would call ’employ­er swap­ping’ – work­ers who are laid off by one com­pa­ny being imme­di­ate­ly recruit­ed to work at anoth­er com­pa­ny. Why? Well, folks, it’s still the case that there are more jobs open than peo­ple avail­able to fill them. That’s why some of us have trou­ble call­ing this a reces­sion despite oth­er eco­nom­ic news to the con­trary. What’s a Doc­tor to do? I guess it’s time to get to the news:

  • B2B tal­ent plat­forms reach new heights: Glob­al­ly, B2B tal­ent plat­forms in 2021 reached $13.8 bil­lion in gross spend vol­ume (fees paid to work­ers plus fees for facil­i­tat­ing trans­ac­tions), accord­ing to Staffing Indus­try Ana­lysts’ recent report, “The Tal­ent Plat­form Land­scape.” Gross spend vol­ume in the US alone totaled $6.2 bil­lion last . Plat­form-relat­ed work is part of the gig econ­o­my as defined by SIA. This def­i­n­i­tion of gig econ­o­my also includes tem­po­rary agency work, oth­er tem­po­rary work, inde­pen­dent con­tract­ing and state­ment-of-work con­sult­ing. Wow!
  • The­Muse acquires Fairy­god­boss: The­Muse announced that it acquired Fairy­god­boss, a recruit­ment plat­form aimed at women and work­ing moth­ers. The pur­chase price was undis­closed, and par­ties declined to com­ment on it, but a source famil­iar with the trans­ac­tions said it was a mix of cash and stock. Fairy­god­boss is pro­duc­ing about $10 mil­lion in year­ly rev­enue, which infers the pur­chase price was pre­sum­ably favor­able. CEO Kathryn Min­shew said this will like­ly be the first trans­ac­tion of many because the recruit­ment tech space is in dire need of con­sol­i­da­tion. Very inter­est­ing.
  • Fin­d­em finds some fund­ing: Recruit­ment intel­li­gence com­pa­ny Fin­d­em has raised $30 mil­lion in a B fund­ing round .  It now has invest­ment of $37.3 mil­lion and claims its are ben­e­fit­ting its cus­tomers by help­ing them to over­come tal­ent short­ages by find­ing high qual­i­ty can­di­dates and reduc­ing their time to hire by 80%. Its plat­form index­es and analy­ses data on can­di­dates from around 100,000 sources and trans­forms it into search­able can­di­date attrib­ut­es. Inter­est­ing.
  • MyS­tar­tUpGig launch­es in Aus­tralia: The chief oper­at­ing offi­cer of Syd­ney-based start­up Can­cerAid has launched what he says the Aus­trali­a’s biggest start­up job board, My Start­up Gig. Cre­ator Tim Atkins said “We had 550 star­tups on launch, which makes it already the largest source of Aus­tralian start­up jobs. Soon we should have every sin­gle start­up job.” Good luck.
  • Career­Bea­con acquires Ruut­ly: Cana­di­an job board Career­Bea­con announced its acqui­si­tion of Ruut­ly, the employ­er brand­ing plat­form.  Ruut­ly auto­mat­i­cal­ly trans­forms sta­t­ic text job post­ings into inter­ac­tive can­di­date expe­ri­ences when­ev­er a new job is added to a com­pa­ny’s ATS. “Ruut­ly was built to give employ­ers a scal­able way to visu­al­ly tell their employ­er brand sto­ry in their job post­ings,” said Ryan Porter, CEO and Founder of Ruut­ly. Inter­est­ing.
  • JobTeas­er acquires Grad­u­ate­land: JobTeas­er, a recruit­ment plat­form for stu­dents and young grad­u­ates, has acquired its Scan­di­na­vian com­peti­tor Grad­u­ate­land. JobTeas­er paid between 10 and 25 mil­lion Euros for the site. In this new con­fig­u­ra­tion, the Scan­di­na­vian zone becomes one of JobTeaser’s main mar­kets along with Ger­many and Benelux. 60% of JobTeaser’s income comes from France as it stands. Con­grats!
  • CV-Library acquires Bril­liant Jobs: CV-Library has acquired Bril­liant Jobs, a plat­form that uses the lat­est AI and pro­gram­mat­ic tech­nol­o­gy to effi­cient­ly con­nect can­di­dates with employ­ers. The move is part of the CV-Library Group’s wider plans to deliv­er a glob­al pro­gram­mat­ic job adver­tis­ing across its exist­ing and new ter­ri­to­ries. CV-Library have ear­marked over $9m for acqui­si­tions and plat­form trans­for­ma­tions over the next 2 years and the first stage, inte­grat­ing Bril­liant Jobs, is due to be com­plete and avail­able to the mar­ket in late Octo­ber 2022. Smart move.
  • XpressJobs acquires MyJobs.lk: Sri Lan­ka-based recruit­ment mar­ket­place XpressJobs has acquired rival MyJobs.lk from Emerg­ing Media. Found­ed in 2014, MyJobs.lk spe­cial­izes in retail and indus­tri­al vacan­cies. XpressJobs is a full-stack recruit­ment mar­ket­place that focus­es on the white-col­lar seg­ment. Con­grats!
  • SIA esti­mates gig econ­o­my at $5.4 tril­lion: Staffing Indus­try Ana­lysts released a new esti­mate of the val­ue of the glob­al gig econ­o­my in the wake of last mon­th’s Col­lab­o­ra­tion in the Gig Econ­o­my con­fer­ence: an esti­mat­ed $5.4 tril­lion in rev­enue in US dol­lars dur­ing 2021.  Yes, that’s tril­lion with a ‘T’! The lion’s share of rev­enue was gen­er­at­ed by inde­pen­dent con­trac­tors, who earned an esti­mat­ed $3.0 tril­lion in 2021. It rep­re­sent­ed 56% of the total amount. Impres­sive.
  • Brick­Mate acquires Freemoa: IT out­sourc­ing com­pa­ny Brick­Mate has acquired a 70% stake in mar­ket­place Freemoa for an undis­closed sum. Both com­pa­nies are based in South Korea. project and sched­ule man­age­ment, pay­ment facil­i­ta­tion and real-time chat, Freemoa is a full-stack free­lance mar­ket­place with at least 20,000 reg­is­tered free­lancers. Brick­Mate is a sub­sidiary of an ener­gy com­pa­ny Kumho Elec­tric Inc. Intrigu­ing.
  • Pay­cor acquires Tal­enya: Pay­cor, a provider of HR , has acquired Tal­enya, a recruit­ing plat­form that uses AI to speed up and econ­o­mize tal­ent sourc­ing. Read­ers may remem­ber Tal­enya’s founder, Gal Amog, who also found­ed what is now known as Pan­do­Log­ic. Israel-based Tal­enya offers tech­nol­o­gy that will help Pay­cor cus­tomers fill open­ings more quick­ly by sourc­ing both active job seek­ers and pas­sive can­di­dates. Con­grats!

Did you hap­pen to notice a bunch of acqui­si­tions? Yeah, so did I. Remem­ber – acqui­si­tion is just anoth­er word for expan­sion. With that, enough news for now!

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