So last week two old job boards finally got hitched;
“Randstad, a staffing company, is merging its job board Monster with CareerBuilder to create a larger job board. This merger will combine their resources and allow them to better serve both employers and job seekers in the evolving job market. The new company will be controlled by CareerBuilder’s investors with Randstad holding a minority stake. The merger is expected to close in the third quarter of 2024.“
A merger of two old job boards is probably a fitting end to both companies which are long past their prime. I would have expected both to be sold off by now (to bigger players) but the move seems like a last ditch attempt at staying relevant. Should help Apollo in the short term. Both sites are just hanging on to their dwindling brand awareness which gets smaller by the day.
It almost sounds as if Randstad just gave away Monster saying in the press release there would be no financial implications. Maybe Apollo said ‘we’ll just send you a check once a month for your share’.
I would expect Apollo to further milk both sites for their brand names. Monster has the better brand so perhaps that could become the main one over time but I’m sure each site will list each others jobs in the meantime. Much like how Indeed bought SimplyHired and just used it for backfill.
Both Monster and CareerBuilder hover around the 6 million users per month mark.
