Indeed Explained

Indeed, Inc.
Commercial:Yes
Registration:required
Company Type:Subsidiary (independent)
Type:Job search engine
Footnotes:[1] [2]
Headquarters:Austin, Texas, U.S.
Stamford, Connecticut, U.S.
Current Status:Active
Num Employees:14,600+
Parent:Recruit
Ceo:Chris Hyams

Indeed, Inc. is an American worldwide employment website for job listings launched in November 2004. It is an independent subsidiary of multinational company Recruit Holdings. It is headquartered in Austin, Texas, and Stamford, Connecticut, with additional offices around the world.[3] As a single topic search engine, its central functionality is also an example of vertical search. Indeed is currently available in over 60 countries and 28 languages. In October 2010, Indeed.com surpassed Monster.com to become the highest-traffic job website in the United States.[4]

The site aggregates job listings from thousands of websites, including job boards, staffing firms, associations, and company career pages. It generates revenue by selling premium job posting and resume features to employers and companies hiring.[5] In 2011, Indeed began allowing job seekers to apply directly to jobs on Indeed's site[6] and offering resume posting and storage.[7]

History

Indeed was cofounded by Paul Forster and Rony Kahan in 2004 in both Austin, Texas, and Stamford, Connecticut.[8] The Stamford offices house the company's sales, client services, finance, and human resources teams, while the product development staff is based in Austin.

In 2005, Indeed launched the beta version of their "pay-per-click job advertising network".[9] In addition to searching job postings, it allows the frequency of specific words within these postings to be tracked over time, serving as a potential indicator of trends in the job markets. The company took an investment round of $5 million in funding from Union Square Ventures, The New York Times and Allen & Company.[10]

Indeed operates in the UK via Indeed UK Operations Ltd, which is a subsidiary of Indeed Operations Ireland Ltd, whose ultimate holding company is Recruit Holding Co Ltd. Turnover in the UK for the year to 31 December 2019 was £41.2m.

On October 1, 2012, Indeed became an independent operating unit of Japan-based Recruit Co. Ltd.[11]

On July 1, 2016, Recruit Holdings Co., Ltd. announced that it had acquired the assets of Indeed's competitor Simply Hired, which would become a publishing partner of Indeed.[12]

On June 21, 2018, Recruit Holdings Co., Ltd. announced that it had acquired the assets of Glassdoor, which will operate as a distinct and separate part of its growing HR Technology business segment, aligning Glassdoor and Indeed as sister companies.[13]

On May 30, 2019, Indeed announced that it had signed an agreement to acquire Syft, a leading recruiting platform for the hospitality, event, and light industrial sectors in the UK.[14]

On July 12, 2019, Indeed announced that it had signed an agreement to acquire ClickIQ, an automated job advertising technology platform based in the UK.[15]

On March 22, 2023, Indeed announced that they would be laying off 2,200 employees, stated to be 15% of their workforce.[16]

On May 13, 2024, Indeed laid off approximately 1,000 employees Monday, or about 8% of the company. Indeed CEO Chris Hyams announced on May 13 in a letter to employees, a move driven in part by "a global slow-down in hiring," the message said. The vast majority of the layoffs were in the U.S., Hyams said, largely within R&D and the go-to-market teams. "While the global economy has improved in several areas over the past year, we are not yet set up for sustainable growth," Hyams said. “Despite our efforts so far, our organization is still too complex,” he continued, indicating that the company is aiming to "simplify" areas of the business to make decision-making faster.[17]

Sponsorship

Indeed is currently the main sponsor of German soccer club Eintracht Frankfurt.[18]

See also

Notes and References

  1. Web site: Leadership. Indeed.com. May 2, 2022. June 11, 2022. https://web.archive.org/web/20220611104647/https://www.indeed.com/about/leadership. live.
  2. Web site: About Indeed. Indeed.com. May 2, 2022. May 3, 2022. https://web.archive.org/web/20220503230207/https://www.indeed.com/about. live.
  3. News: Indeed announces plans for several hundred new Stamford jobs. . Stamford, CT . 2018-01-20. January 31, 2020. https://web.archive.org/web/20200131134548/https://www.stamfordadvocate.com/business/article/Indeed-announces-plans-for-several-hundred-new-11283124.php. live.
  4. Web site: Schonfeld. Erick. November 17, 2010. Indeed Slips Past Monster, Now Largest Job Site by Unique Visitors. December 9, 2010. TechCrunch. December 24, 2019. https://web.archive.org/web/20191224152346/http://techcrunch.com/2010/11/17/indeed-monster-largest-job-site/. live.
  5. Web site: 8 Alternatives to Indeed Job Search. Bagsy. 2019-10-05. en-US. 2019-10-05. May 31, 2020. https://web.archive.org/web/20200531184904/https://www.bagsy.org/8-alternatives-to-indeed/. dead.
  6. Web site: New Feature: Indeed Apply . Resfly Blog . Resfly . February 21, 2012 . dead . https://web.archive.org/web/20120223135856/http://www.resfly.com/2012/02/new-feature-indeed-apply/ . February 23, 2012 . mdy-all .
  7. Web site: Zappe . John . Indeed Makes It Official and Launches Resume Search . ere.net . September 14, 2011 . January 12, 2014 . September 23, 2011 . https://web.archive.org/web/20110923163122/http://www.ere.net/2011/09/14/indeed-makes-it-official-and-launches-resume-search . live .
  8. Web site: Founders . InternetInc.com . 2014-08-23 . August 10, 2014 . https://web.archive.org/web/20140810210205/http://www.indeed.com/founders.jsp . live .
  9. Web site: Indeed.com Launches Job Search PPC Advertising Network . Baker, Loren . Search Engine Journal . 2006-05-16 . 2008-04-09 . January 31, 2020 . https://web.archive.org/web/20200131135113/https://www.searchenginejournal.com/indeedcom-launches-job-search-ppc-advertising-network/3420/ . live .
  10. News: Shontell. Alyson. Indeed, An Almost Entirely Bootstrapped Job Search Giant, Gets A Monster Exit. 28 February 2018. Business Insider. 25 September 2012. February 28, 2018. https://web.archive.org/web/20180228215601/http://www.businessinsider.com/indeed-an-almost-entirely-bootstrapped-job-search-giant-gets-a-monster-exit-2012-9. live.
  11. Indeed Announces Acquisition by Recruit Co. Ltd . Indeed . 2012-10-01 . January 13, 2014 . https://web.archive.org/web/20140113040658/http://www.indeed.com/pressrel/indeed-announces-acquisition-by-recruit-co-ltd.jsp . live .
  12. News: Ingrid . Lunden . Indeed owner Recruit Holdings confirms acquisition of Simply Hired . . 1 July 2016 . November 26, 2019 . https://web.archive.org/web/20191126123000/https://techcrunch.com/2016/07/01/indeed-owner-recruit-holdings-confirms-acquisition-of-simply-hired/ . live .
  13. Recruit Holdings Announces Completion Of Glassdoor Acquisition . Glassdoor . 2018-06-21 . September 21, 2021 . https://web.archive.org/web/20210921074830/https://www.prnewswire.com/news-releases/recruit-holdings-announces-completion-of-glassdoor-acquisition-300669980.html . live . PR Newswire.
  14. Indeed confirms acquisition of Syft . Indeed . 30 May 2019 . December 24, 2019 . https://web.archive.org/web/20191224101045/http://press.indeed.com/press/indeed-announces-acquisition-of-recruiting-platform-syft/ . live .
  15. Indeed announces acquisition of automated recruitment technology platform ClickIQ . Indeed . 12 July 2019 . June 30, 2021 . https://web.archive.org/web/20210630004835/https://press.indeed.com/press/indeed-announces-acquisition-of-automated-recruitment-technology-platform-clickiq/ . live .
  16. Web site: Indeed laying off 15% of staff, around 2,200 people . Jones . Abigail . Al-Shaikh . Sarah . March 22, 2023 . KXAN . Nexstar . March 22, 2023 . March 22, 2023 . https://web.archive.org/web/20230322223925/https://www.kxan.com/news/business/indeed-laying-off-15-of-staff-around-2200-people/ . live .
  17. Web site: Austin-based Indeed.com cutting about 1,000 jobs, or roughly 8% of its global workforce. Shonda. Novak. Austin American-Statesman.
  18. Web site: Bassam. Tom. 2019-08-16. Eintracht Frankfurt extend Indeed shirt deal through 2023 – SportsPro Media. live. 2021-05-25. www.sportspromedia.com. May 25, 2021. https://web.archive.org/web/20210525224621/https://www.sportspromedia.com/news/eintracht-frankfurt-indeed-shirt-sponsorship-2023.

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