TMP Worldwide Merges Monster Board, OCC
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New York City-based TMP Worldwide merged its online recruitment properties, The Monster Board and Online Career Center, creating Monster.com, a global online network for careers and career advertising.
TMP said the merger reflects its ongoing effort "to dominate the online careers market space" and grow its Internet business. TMP's Interactive Division, of which Monster.com is the flagship business, posted revenue of $31.7 million and an operating profit of $0.2 million for the first nine months of 1998.
The new Monster.com blends the best features and services of The Monster Board and Online Career Center sites. In addition, Monster.com features new services for career-minded individuals to better manage their careers and for recruiters to find qualified employees.
For job seekers, Monster.com now offers personalization, enhanced resume- building and privacy options and career content, and for recruiters provides real-time recruiting and resume screening capabilities.
Forrester Research has predicted spending on online recruitment advertising will grow from $105 million in 1998 to $1.7 billion by 2003, TMP said.
"TMP is uniquely positioned to take advantage of the explosive growth in the online careers marketspace," said Bill Warren, president of Monster.com and founder of Online Career Center. "TMP's 'intern to CEO' strategy provides career solutions at all levels of experience to job seekers and employers, and the company continues to find synergies between its online and traditional core businesses, which include recruitment advertising and executive search and selection."