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Monster Announces HotJobs Acquisition

Yahoo to part with property for $225 million

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Yesterday and this morning, reports indicated that Yahoo wasn’t having much luck selling its small business unit and HotJobs.  HotJobs has, however, found a new home.  This afternoon, Monster announced that it’s agreed to acquire the property for $225 million, and Monster’s reached a traffic agreement with Yahoo, too.

Yahoo LogoThe agreement will see Monster provide career- and job-related content on Yahoo’s homepages in the U.S. and Canada for three years.  Monster’s also getting the opportunity to negotiate similar agreements with other Yahoo properties worldwide.

Then, according to a press release, there may be "performance based annual payments calculated by clicks and expressions of interest, subject to annual floors and ceilings."  (No further details were given on this front.)

Anyway, Hilary Schneider, Yahoo’s Executive Vice President, explained the sale by stating, "The transaction with Monster enables us to continue to provide an important service to our users through the traffic agreement.  Yahoo! remains focused on its core businesses and delivering exceptional experiences to users, partners and advertisers."

Yahoo and Monster expect to complete the acquisition (and subsequently start the three-year traffic agreement) during the third quarter of this year.

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Monster Announces HotJobs Acquisition
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  • HotJobs Hater

    If you actually had to use HotJobs you would agree with the hundreds of users who have posted comments on the HotJobs Suggestion Board: HotJobs SUCKS.

    All any prospective buyer of HotJobs has to do is view the comments on the HotJobs Suggestion Board and that would deter them from buying it. They would be able to tell right away that they would have to do a long and costly repair job on this train wreck in order to rebuild HotJob