Monster has just acquired the job search app, Jobr for an undisclosed amount. The news comes from the Jobr blog.
UPDATE 10/22/16: Monster paid $12.5 million to acquire Jobr according to a press release from one of its shareholders. They say it was “wasted” on an app they could have built on their own for much less. Here’s the quote…
Wasted $12.5 million to acquire Jobr, a start-up mobile app with little revenue or specialized technology — MNG priced out what it would cost to develop virtually the same app as Jobr and believes it would cost less than $250k to develop, or 2% of the price paid to acquire it
According to co-founder, Hari Ananth, “Today, we’re pleased to announce that Jobr has been acquired by Monster Worldwide ($MWW). Jobr has been working with Monster for over a year now, and there is a strong alignment between us — from how we approach recruiting, to the reasons why we do what we do. With Monster, Jobr will have a much greater impact on the job search market by expanding our team and resources, growing our userbase, and launching our mobile apps in new markets. We’re excited to take the next step in Jobr’s growth and are more confident than ever that we’ll be able to accomplish our mission.”
To my knowledge this is the first of the mobile job search startups that has been acquired. This is a clear move by the job search giant to quickly gain market share in the mobile world. Both technology and their team will be headed to Monster.
Venture Beat is reporting that ‘Monster already featured jobs within the Jobr app, but following the acquisition, it will begin to integrate the Jobr app directly with Monster’s own recruitment platform’. Read more on VB.
MONSTER PRESS RELEASE
Monster Acquires Jobr
WESTON, Mass., June 8, 2016 — Monster Worldwide, Inc. (NYSE: MWW), a global leader in connecting jobs and people, today announced that it has acquired Jobr, the leading mobile job discovery app.
“In just a few short years, Jobr has built a simple and consumer-friendly, mobile-first approach to connecting jobs and people. Bringing the Jobr app and team to Monster will enhance our leading global talent platform for job search, people search and related solutions across mobile channels,” saidMark Stoever, President and Chief Operating Officer, Monster. “Our company promise is to bring humanity and opportunity to the job market; adding the impressive Jobr team to the Monster family is another incremental step in delivering on this promise and bringing new opportunities to connect jobs and people to market.”
The Jobr app uses a ‘Tinder-like’ model, allowing job seekers to quickly connect with or dismiss job opportunities by swiping right or left on job postings and then apply to those jobs. Jobr also provides tools for recruiters to manage and interact with applicants.
Monster, whose jobs are already featured on the Jobr app, will immediately begin to integrate the Jobr app with the Monster global talent platform, initially focusing on building out key capabilities including single sign on for users and developing Monster membership workflows. The company will then work to extend the Jobr app to other markets in which it operates through early 2017.
Monster also intends to unleash the Jobr team and core assets in further expanding its mobile capabilities, accelerating the development of the mobile components of the company’s recruiting platform.
“This is an exciting day for the Jobr team; becoming part of a premier recruiting brand like Monster is a vital step in driving the scale of the Jobr platform,” said TJ Nahigian, Chief Executive Officer of Jobr. “We have seen tremendous growth of Jobr –with thousands of recruiters and millions of job seekers already active on the service. We are thrilled to combine efforts and help drive mobile development for Monster.”
