Things have been lively in our industry over the past few weeks – news from DHI, StackOverflow, LinkedIn, and more – and not always good news at that. So let’s get to it:
- DHI loses money and Durney: DHI saw year over year revenues for Q3 17 drop by 7%, and also announced the departure of CEO Mike Durney. They also forecasted Q4 to follow a similar downward revenue path. getTalent is also disappearing, and headcount is down 6.5%. Durney mentioned that the Dice mobile app is providing about 20% of traffic for the site. Interesting times for my former employer.
- Global job board revenue up: Global job board revenue rose 9% in constant currency in 2016, reaching $12.4 billion, according to the “Job Board Market Report: 2017 Update,” released by Staffing Industry Analysts. The three largest firms — Recruit, LinkedIn, and SEEK — control more than half of the market. I guess job boards still aren’t dead.
- Facebook adds ‘work histories’: Facebook now allows its users to create resumes — which Facebook calls a “work histories” feature — and share them privately on the site as part of their job hunt. On its surface, Facebook’s resume feature appears to be an expansion of the work and education details that users can already provide around their Facebook profile. No surprises here.
- Comet raises money: Comet, a marketplace for tech freelancers, has raised €2 million from Otium Capital and Kima Ventures to expand in France and Europe. The new funding will be invested in further development of the marketplace in its native France with a view to expanding in Europe.
- CareerBuilder partners with SilkRoad: CareerBuilder is partnering with SilkRoad on their OnBoarding product to provide customized, branded portals and automated workflows to help their client companies capture the information required for compliance and readying new employees. With the new functionality, CareerBuilder customers can send welcome communications to engage new hires; create, store and automate new hire documentation including W4 and I-9 forms; and provide important company information. Another move toward their end-to-end recruiting solution. In other CB news, they have a new President and COO: Irina Novoselsky.
- LinkedIn gets integrated: Microsoft announced that LinkedIn integration within Outlook.com is now going live, allowing email users to view insights, profile pictures, work history and more from within their inbox. With the new Outlook integration, customers can click on an email contact’s name right in their inbox then view a rich contact card that includes a link to their LinkedIn profile. In other LI news, they contributed $1.1bn in revenue and will be accretive to EPS this fiscal year. Impressive.
- Mya gets moolah: Mya Systems, creator of Mya, has raised $18 million in Series B funding. This follows a Series A round of $11.4 million in May 2017, and a seed round of $3 million in 2012 as FirstJob, a hiring solution for millennials. The company says the sourcing automation technology engages with passive candidates from internal sources, like an ATS (sounds a bit like Crowded Refresh). Recruiting automation marches on.
- Randstad revenue grows: The revenue of Amsterdam-based staffing company Randstad Holding, owner of Monster, rose by 9 percent in Q3 of FY2017 to €5.9 billion ($6.9 billion U.S.) from €5.3 billion ($6.2 billion U.S.) in Q3 of FY2016. In Q3, all revenue growth came from outside the North American business (including Canada and the U.S.). In other Monster news, the site has entered into an agreement with Sun Coast Media Group, a publisher of nine local newspapers in southwestern and central Florida. Deja vu?
- StackOverflow layoffs: StackOverflow has conducted a substantial number of layoffs across the company as it looks to steer the business more towards its core Q&A products and away from areas that were seeing less demand. As part of this, the company is also closing its offices in Denver. The number of layoffs is estimated to be 20% of total workforce – or about 60 positions. When Stack Overflow raised $40 million in 2015, the company specifically said the investment would be used to build out the recruitment part of its business, which at the time accounted for two-thirds of the company’s revenues. “The company is not pivoting from Talent (Careers),” a company spokesperson said. “…the existing business around Talent remains strong.” Very interesting.
- Xing booms: Xing, the German networking site, says revenue is up 24 percent in first 9 months of this year. The company, which competes directly with LinkedIn, also claims they have added 1.5 million new members since start of the year. Impressive indeed.
That’s enough for now! More to come next month.[Want to get Job Board Doctor posts via email? Subscribe here.].