Broadbean, LinkedIn, and JobGet: news of the job board industry

BroadbeanAs of the con­tin­u­ing decon­struc­tion of Career­Builder, Broad­bean makes the this time around. But don’t wor­ry, there are also plen­ty of AI- items, acqui­si­tions (includ­ing a befud­dling one by Twit­ter), and even some job board launch­es. In oth­er words, anoth­er month in the life of the job board indus­try! Let’s check it out:

  • LinkedIn offers job post­ing ver­i­fi­ca­tion tools: After launch­ing its ver­i­fi­ca­tion fea­tures last month, LinkedIn is now bring­ing ver­i­fi­ca­tion to job posts. When you see ver­i­fi­ca­tions on job posts, that means there is infor­ma­tion that has been ver­i­fied as authen­tic by the job poster, LinkedIn or one of its part­ners. The ver­i­fied infor­ma­tion will show whether the poster is affil­i­at­ed with an offi­cial com­pa­ny page, has ver­i­fied their work email or work­place or their gov­ern­ment ID was ver­i­fied through CLEAR, which is a secure iden­ti­ty plat­form. Won­der how Indeed will respond…
  • Indeed launch­es skills-based resume fea­ture: Indeed intro­duced a new prod­uct, Skill Con­nect, that helps job seek­ers pro­mote them­selves with skills gained from affil­i­ate train­ing pro­grams. At launch, four voca­tion­al train­ing orga­ni­za­tions in the U.S., the U.K. and Ire­land were involved in the ini­tia­tive. Indeed says it launched the prod­uct to help job seek­ers with­out a col­lege degree bet­ter com­pete for jobs. Job seek­ers who have com­plet­ed a course from a par­tic­i­pat­ing orga­ni­za­tion are guid­ed through a spe­cial resume process that pre-pop­u­lates sug­gest­ed skills and cer­ti­fi­ca­tions. Inter­est­ing response, Indeed!
  • Jobindex delists after rev­enue drops: Rev­enue at JobIndex, the lead­ing job board in Den­mark, fell by 18% year on year (y‑o-y) to DKK112 mil­lion ($16.2 mil­lion) in Q1 2023. EBITDA fell by 31% y‑o-y to DKK40 mil­lion ($5.8 mil­lion). Then Kaare Danielsen, the founder, CEO and major­i­ty own­er of Den­mark-based job board JobIndex, decid­ed to delist the com­pa­ny from Nas­daq North Growth Mar­ket Den­mark.  Danielsen explained the tim­ing of the offer: “We just dis­trib­uted employ­ee shares. And we are cer­tain­ly hap­py to have both employ­ees and oth­er share­hold­ers as co-own­ers. We are just tired of it becom­ing more and more expen­sive and more and more dif­fi­cult to be list­ed on the stock exchange.” Intrigu­ing.
  • Twit­ter acquires Lask­ie: Con­fus­ing every­one in the job board world, Twit­ter bought IT recruit­ment plat­form Lask­ie. The site, which was found­ed in 2021 by Chris Bakke, Lask­ie offered job-seek­ers in the tech domain “free tools… designed to make your job search faster, more effi­cient, and less stress­ful.” The site no longer appears to be oper­a­tional, how­ev­er. Axios said that the acqui­si­tion price could be in the “tens of mil­lions.” Curi­ous are the ways of Elon.
  • Arc launch­es HireAI:  Arc, a remote jobs mar­ket­place for soft­ware devel­op­ers, launched HireAI, an AI-pow­ered recruiter. By match­ing com­pa­nies with the right can­di­dates from its glob­al devel­op­er net­work, Arc’s HireAI elim­i­nates tasks that hir­ing man­agers face, such as can­di­date search, resume screen­ing, and man­u­al out­reach. Pow­ered by Ope­nAI’s Chat GPT‑4, HireAI uses a com­pa­ny’s job to find the best match can­di­dates from Arc’s pool of over 250,000 remote devel­op­ers world­wide. Very inter­est­ing.
  • iCMS launch­es HR job board: iCIMS launched a new web­site intend­ed to con­nect HR and tal­ent acqui­si­tion job seek­ers with open roles. HRjobs.icims.com aggre­gates open posi­tions across indus­tries from the iCIMS cus­tomer base. The site is designed to let HR and tal­ent pro­fes­sion­als browse and explore job oppor­tu­ni­ties and apply on the hir­ing com­pa­ny’s career site. The launch comes just weeks after iCIMS rolled out a new ver­sion of its can­di­date rela­tion­ship man­age­ment soft­ware. I’ll be curi­ous to see how this devel­ops.
  • Career­Builder sells Broad­bean: Veri­tone, a pub­licly trad­ed Cal­i­for­nia enter­prise com­pa­ny focused on arti­fi­cial intel­li­gence, announced plans to pay $52 mil­lion for Broad­bean, the Lon­don-based soft­ware-as-a-ser­vice provider of job dis­tri­b­u­tion and tal­ent acqui­si­tion ser­vices. Veri­tone said Broad­bean, which employs about 300, has annu­al rev­enue of more than $35 mil­lion, includ­ing “over $30 mil­lion … sub­scrip­tion-based [rev­enue] with attrac­tive mar­gins.” The com­pa­ny said the acqui­si­tion of Broad­bean be imme­di­ate­ly accre­tive to earn­ings. Wait­ing for the final shoe to drop…
  • Pro­fes­sion­al Diver­si­ty Net­work rev­enue drops:  Net­work­ing and jobs web­site oper­a­tor Pro­fes­sion­al Diver­si­ty Net­work report­ed first-quar­ter rev­enue fell 4.8% to approx­i­mate­ly $2.0 mil­lion, though it not­ed rev­enue increased in its Remote­More seg­ment. Rev­enue in the Chica­go-based com­pa­ny’s PDN Net­work fell 18% in the first quar­ter to approx­i­mate­ly $1.13 mil­lion. In addi­tion, rev­enue in the com­pa­ny’s Nation­al Asso­ci­a­tion of Pro­fes­sion­al Women net­work seg­ment fell 34% to $129,000. PDN had also acquired Expo Experts Events LLC in Jan­u­ary 2023. Expo Experts pro­duces face-to-face and vir­tu­al recruit­ing events for engi­neer­ing, tech­nol­o­gy and secu­ri­ty clear­ance posi­tions. Curi­ous.
  • Qual­i­fi rais­es funds: On-demand phone inter­view plat­form Qual­i­fi raised $4.5 mil­lion in an over­sub­scribed fund­ing round led by MXV Cap­i­tal and Ral­ly Ven­tures. The plat­form is used by com­pa­nies of all sizes to hire for a vari­ety of roles, includ­ing cus­tomer ser­vice, sales and tech­ni­cal posi­tions. The com­pa­ny is based in Indi­ana and was found­ed in 2019 by Dar­ri­an Mikell, Devyn Mikell, DeSean Pren­tice, and Keenan Jaenicke. Inter­est­ing.
  • JobGet acquires Heroes Jobs: JobGet, a -based plat­form to con­nect hourly work­ers with employ­ers, acquired Heroes Jobs, a Los Ange­les-based social net­work­ing plat­form tar­get­ed toward mem­bers of Gen Z seek­ing retail and hos­pi­tal­i­ty roles. JobGet’s mar­ket­place cur­rent­ly serves more than 100,000 employ­ers and pro­vides access to a com­mu­ni­ty of job seek­ers with a reach of 65 mil­lion. Heroes Jobs pro­vides a social app that helps GenZ job seek­ers build a pro­fes­sion­al foot­print and engage with future employ­ers. Con­grats!
  • 58.com lay­ing off staff:  Chi­na-based clas­si­fieds giant 58.Com is plan­ning to cut up to 14,000 jobs. Cit­ing com­pa­ny employ­ees dis­cussing the lay­offs on work-focused social net­work Maimai, DoNews said that between 30% and 50% of the group’s 28,000 employ­ees would be let go. Found­ed in 2005, 58.Com also oper­ates hor­i­zon­tal clas­si­fieds site Ganji.com, gen­er­al goods mar­ket­place Zhuan Zhuan and prop­er­ty site Anjuke, in addi­tion to a num­ber of rectech ser­vices. Sor­ry to hear this.
  • Recruitics acquires Jamyr: Recruitics, a -dri­ven recruit­ment agency, acquired Jamyr – a video recruit­ment plat­form. Jamyr deliv­ers employ­ee-gen­er­at­ed video con­tent at scale, enabling orga­ni­za­tions of all sizes to engage job seek­ers with rel­e­vant video con­tent. Jamyr is an end-to-end recruit­ment video con­tent cap­ture, cura­tion, and host­ing plat­form that also inte­grates with employ­er ATSs. Inter­est­ing move.
  • Big changes at Recruiter.com: Out­sourced recruit­ment com­pa­ny Recruiter.com will get a new CEO, a new name and a new direc­tion as an AI-focused hir­ing con­sul­tan­cy. The deal involves pub­licly trad­ed the NAS­DAQ-trad­ed Recruiter.com acquir­ing fin­tech assets of soft­ware com­pa­ny GoLogiq, with plans to split the result­ing com­pa­ny in two: the big­ger part being a fin­tech con­cern that also trades on the NASDAQ but under a new, not-yet-deter­mined name. Recruiter.com’s exist­ing recruit­ment would be spun off as a new enter­prise called the AI Com­pa­ny. Wow.

Are you tired yet? That was a lot of news – and it was­n’t the half of it! I guess we’ll just have to wait and see till next month where Career­Builder NA ends up, eh? Until then…

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