Microsoft Grabs Stake In CareerBuilder
As Microsoft preaches its advertising solution virtues to the masses, they have put some more money in the collection plate of the three major newspaper publishers who back online classifieds site CareerBuilder.
|Microsoft Grabs Stake In CareerBuilder|
Through its MSN online division, Microsoft has an existing relationship with CareerBuilder. The classifieds site, backed by Gannett, Tribune, and McClatchy, provides listings to MSN’s Careers pages.
Microsoft now has a piece of the action, as they and CareerBuilder announced Microsoft would take a minority stake in the website. Greg Sterling claimed on his blog Microsoft picked up four percent; we have asked Microsoft to confirm this figure.
As noted earlier, CareerBuilder and Microsoft have been partners for some time. In January 2004, CareerBuilder became MSN Careers’ exclusive job search engine. The new agreement takes that deal through 2013, and CareerBuilder will pay Microsoft up to $443 million over seven years for this placement.
“Taking an equity stake in the most prominent job site in the U.S. presents a unique opportunity to enhance our business relationship,” said Joanne Bradford, corporate vice president and chief media officer for MSN at Microsoft.
The deal will also help accelerate CareerBuilder’s international expansion. CareerBuilder CEO Matt Ferguson said they will be able to “quickly enter new markets in Europe and all over the world” with this agreement.
CareerBuilder has begun its expansion, launching websites in the UK, Canada, and India. MSN Careers will be rolling out throughout most of Europe through the end of 2007, and into the middle of 2008.