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Report: Indeed.com Sells for $1 Billion

The job search website was acquired by Japan's Recruit Co. Ltd, but will remain an independent operating unit.
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Indeed.com, the job search site, announced on Tuesday it will be acquired by Tokyo-based HR services company Recruit Co. Ltd.

The company, based in Stamford, Connecticut, declined to comment on the size of the acquistion, but the price tag is reportedly between $750 million and $1 billion. Not bad for a company with only $5 million in funding.

"We think that they can provide the resources and they can help leverage our growth in the Asian markets," Indeed co-founded and CEO Paul Forster says. "It was a compelling offer."

Forster says he will continue running the company with co-founder Rony Kahan.

He adds that Indeed has been profitable since 2007, and has undergone 100% year-to-year revenue growth over the past three years. The website has 80 million unique visitors per month and more than 25,000 employer clients. The website is available in 50 countries and 26 languages, and users upload more than a million new resumes each month, according to Indeed.

The company was co-founded by Rony Kahan and Forster in 2004 and received $5 million in venture capital from a variety of investors including Union Square Ventures and Allen & Company, VentureBeat reports.

IMAGE: Shutterstock
Last updated: Sep 26, 2012

JOHN MCDERMOTT | Staff Writer

John McDermott is a business and culture reporter whose work has appeared in the Chicago Tribune and Playboy and on AOL.com. He recently moved from Chicago to Brooklyn, New York, to work for Inc.com.




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