Curated Intel from the Talent Tech Industry
July 1-7, 2024:
• Hoping to be a phoenix: Monster and CareerBuilder combine in a new joint venture job board;
• Getting back in the game: Industry Ventures raises $900M for early-stage tech investments;
• Broadening the focus of TA: Phenom acquires Tydy to expand its platform into onboarding;
• Investing in free lance marketeers: Toptal makes marketing acquisition with Growth Collective;
• Reactivating the case: Google faces antitrust complaint by Danish job-search rival Jobindex.
PLUS
Worldclass content and business-building connections at TAtech Europe & The EMEA Job Board Forum. Register right now for the only conference in the EMEA market that is specifically designed both for job board and talent technology company CEOs, their direct reports and rising stars and to accelerate the bottom-line growth of their enterprises. Why the rush? Because the conference will be held September 17-19, 2024 in Paris at Cercle National des Armées, and it has a limited seating capacity. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!
Monster and CareerBuilder to combine, creating stronger job board for talent and employers
Randstad NV, the world’s leading talent company, has reached an agreement to form a joint venture combining its job board business, Monster, with CareerBuilder, a portfolio company of funds managed by affiliates of Apollo (the “Apollo Funds”). The combination of Monster and CareerBuilder brings together two strong, trusted and complementary brands to create a job board with greater scale and reach. As the world of work continues to evolve, this combination will allow both businesses to benefit from shared resources and solutions to deliver greater value and opportunities to both talent and employers. Together, both companies can more effectively respond to prevailing trends in the market to deliver enhanced growth.
Industry Ventures Raises $900M For Early-Stage Investment
San Francisco-based Industry Ventures announced Tuesday that it has closed on $900 million for a fund that will invest in early-stage technology’s emerging managers and companies. The firm describes the vehicle as a “hybrid fund” as it will make commitments to venture and seed investors, back rounds for individual startups, and buy stakes in early-stage funds from existing shareholders. Although Industry Ventures is best known as a secondary investor, it’s been pursuing this hybrid strategy since 2009. In that time, managing director Roland Reynolds, has seen his share of market cycles for emerging managers looking to raise new funds. The current climate, he observed, is sharply different than it was a couple years ago. “This is a much more challenging fundraising environment,” Reynolds said. “To get a flat or slightly larger fund size is a big win.”.
Phenom Acquires Tydy, Expanding Platform to Seamlessly Onboard Employees
Phenom today announced its acquisition of Tydy, a human resources technology company focused on delivering phenomenal preboarding and onboarding experiences for employees – from hire to retire. The fifth acquisition and addition to the Intelligent Talent Experience platform portfolio fortifies Phenom’s vision to shorten time to productivity for employees, while creating efficient experiences for HR practitioners, all from one platform. Now with onboarding, the Phenom platform further strengthens the connection between the candidate and employee experience solutions to create an end-to-end talent experience from job discovery until the moment an employee is offboarded from an organization. This streamlined experience solves a crucial need for talent acquisition and talent management teams to complete necessary operational steps, verifications and documentation leading up to an employee’s first day — which traditionally occurs across disparate systems. This shortens time to productivity while creating a fast, transparent and easy experience for new hires that makes a lasting positive impact.
Toptal makes marketing acquisition with Growth Collective
Talent platform Toptal acquired Growth Collective, a talent platform that provides freelancers specializing in digital marketing, SEO, content creation and social medial strategy. The company announced the deal was signed during the Cannes Lions Festival for the advertising and communications industry in Cannes, France. Toptal said the all-cash deal was in the seven figures. Toptal also announced the launch of Toptal Marketing, its marketing freelance business, at the Cannes Lions Festival. Toptal had previously focused on providing freelancers in software development, finance and product management. The launch of Toptal Marketing and the acquisition of Growth Collective mark a pivotal milestone for the company, CEO Taso Du Val said in a press release. “By launching Toptal Marketing and integrating Growth Collective’s talent pool of top freelance marketers, we are well positioned to deliver unparalleled marketing talent and solutions to our global client base,” Du Val said.
Google faces antitrust complaint by Danish job-search rival
Google faces an antitrust complaint on Monday by Danish online job-search rival Jobindex, which told European Union regulators the Alphabet-owned business had allegedly unfairly favoured its own job-search service. The complaint could reinvigorate EU antitrust chief Margrethe Vestager's scrutiny of the service, Google for Jobs. Three years ago, Vestager said she was looking into the issue but she has yet to take any action. The European Commission said it would assess the complaint according to the standard procedures. Jobindex's action comes four years after German media group Axel Springer's jobs portal Stepstone filed a similar complaint against Google.
Do Great Deals & Gather Strategic Intel at TAtech Europe
Worldclass content and business-building connections at TAtech Europe & The EMEA Job Board Forum. Register right now for the only conference in the EMEA market that is specifically designed both for job board and talent technology company CEOs, their direct reports and rising stars and to accelerate the bottom-line growth of their enterprises. Why the rush? Because the conference will be held September 17-19, 2024 in Paris at Cercle National des Armées, and it has a limited seating capacity. Whether your company is a niche or general job board, aggregator, talent marketplace, online classifieds business, programmatic platform, chatbot, conversational AI solution, ATS, recruitment marketing solution, CRM platform, interviewing or assessment system or talent technology consultancy, this event will supercharge your sales and your profits. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!