Job search site Indeed.com is in the money after receiving $5 million in funding from several sources, including The New York Times Company, Union Square Ventures and Allen & Company.
Founded last year by Paul Forster and Rony Kahan, former founders of the financial site JobsInTheMoney.com, Indeed scans millions of listings from job boards, online classifieds, and corporate sites and returns the results in a clean, easy-to-use interface.
Now reading the press release is all well and good, but it’s always better to hear it from the sources themselves. That’s why we were jazzed when Fred Wilson of Union Square Ventures alerted us via email to this blog post which outlines the reasons why this deal came to be.
Here’s a quick snip:
“Job search is one of the first places that sell-side advertising is going to happen…What employers want is the ability to buy traffic to their website, and direct it to the jobs they most want to fill. And they want to buy that traffic on a paid for performance basis, not a fixed price basis.”
Congratulations go out to Indeed.com and all those involved. This is an exciting time for vertical search, particularly in the job arena – potentially one of the most lucrative categories.
Other job search-related coverage on SearchViews is here.
