CONFIRMED: CareerBuilder + Monster Auction/Sale Updates
Happy Sunday, Job Board Doctor Friends,
Oh my gods, I cannot believe I am posting on a Sunday! I should be at the pool right now alas it’s a busy weekend in our industry.
Yesterday, I shared rumored auction results from the CareerBuilder + Monster bankruptcy proceedings. Today, we can confirm and expand on those details.
Auction Results Confirmed
On Saturday, CEO Jeff Furman sent an email to all employees with an update on the auction outcomes.
Based on the copy of that email, here is what we know now:
Auction Winners
- BOLD – Acquires the CareerBuilder + Monster.com job board properties
- Valnet – Acquires MMP (Monster Media Property)
- PartnerOne – Acquires MGS (Monster Government Solutions)
- No Bidder – International Commercial Business remains unsold
Next Steps
Things will continue to move at breakneck speed. The bankruptcy court must now approve each individual sale. The next hearing is scheduled for July 24, exactly one month after the June 24 bankruptcy filing, to request approval for the proposed transactions.
Impact on Employees
- U.S. Employees – The company is in active conversations regarding the transfer of operations and what this means for current staff.
- International Employees Supporting U.S. Business – Like U.S. employees, their continued employment status will depend on decisions made by the respective buyers.
- International Commercial Employees – More updates are expected next week.
Impact on Creditors
We have no information regarding creditors at this point.
Reality Check
BOLD, Valnet, and PartnerOne — all eyes on you.
We will dig in more next week and keep you all posted with updates as we get them.
Until Next Time,
Julie “The Doc” Sowash
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It will be interesting to see what BOLD does with the CareerBuilder and Monster.com properties.
Will they still combine them or operate them as independent platforms? If independent, what will their differentiation be? More importantly, how do you make these platforms relevant again?
They have been usurped by Indeed.com and ZipRecruiter, both troubled businesses in their own right, and who are struggling to remain relevant in the age of AI and HR and recruiters seeking quality over quantity of applications.
CareerBuilder and Monster as legacy brands still have a lot of affinity with the public; it’s how you go about rekindling that brand loyalty and monetizing it that I’m keen to see.