In the latest of this year’s big waves in recruiting technology, the Japanese HR conglomerate Recruit Holdings has finalized a deal to acquire the recruiting, job review, and salary transparency site Glassdoor for $1.2 billion, GeekWire’s Taylor Soper reported on Tuesday night:
Glassdoor, founded in 2008, will remain a “distinct and separate part” of Recruit Holdings’ HR technology business segment. The Tokyo-based company has more than 45,000 employees; its last big acquisition was swooping up jobs site Indeed in 2012. The all-cash deal is subject to regulatory approval, expected this summer.
CEO Robert Hohman will continue to lead the company. The acquisition is in line with Glassdoor’s longstanding vision of becoming a world-leading recruiting platform, Soper notes, pointing to remarks co-founder Rich Barton made at a Zillow event in 2014:
“Our BHAG (Big Hairy Audacious Goal) for Glassdoor is to become the largest recruiting company in the world, to help everyone find a job and company they love, to become ‘TripAdvisor for employment,’” he said in 2014. ” … This is a revolution in the jobs industry. One day we will become the most important company, the most important marketplace, in recruiting.”
Recruit being the owner of Indeed (as well as SimplyHired, another major job search site), it is natural to speculate that it might combine these massive properties into an even larger online recruiting behemoth. Hisayuki Idekoba, Recruit’s chief operating officer, says there are no plans to integrate Glassdoor and Indeed, but they may partner on “specific challenges,” Bloomberg’s Alex Barinka adds.