Lest anyone forgot or skimmed over the point from the original announcement,
Monster.com owner TMP Worldwide Inc.
and HotJobs
Tuesday reiterated the
fact that the latter will be run as a separate company.
TMP announced that it would buy HotJobs, the No. 2 career resource site, for $460 million in stock June
29, and affirmed that HotJobs would be run as its own brand rather than be
incorporated into No. 1 career site Monster.com. In the two weeks since,
anonymous speculation from investors has run rampant, causing TMP and
HotJobs to set the record straight.
Technically, HotJobs will operate as a unit within TMP’s interactive
division. Together — yet standing alone — Monster.com and HotJobs boast a
total of 14 million resumes online and more than 650,000 potential jobs.
The move to operate two similar firms separately is hardly a new phenomenon.
In fact, Monster.com and TMP Interactive Chief Executive Officer Jeff Taylor
likened the strategy to what Viacom has done with MTV and VHI, another
No.1/No.2 tandem.
“We will create separate and complementary branding positions and platforms
for both sites, both providing significant value to job seekers and
employers,” Taylor said.
Commenting overall on the deal, TMP Worldwide CEO Andy McKelvey said:
“I think it’s up to the leader to grow the market, and from our perspective,
there is a significant untapped market in online recruitment along with
underserved market segments,” said McKelvey. “We see enormous potential for
growth for both sites. We are committed to differentiating Monster and the
HotJobs brands, further strengthening our ability to provide recruiters and
job seekers with the best recruiting and career solutions, across the
board.”
Repeat After Them: Monster.com and HotJobs Are Two Separate Brands
