The job-hunting web site Glassdoor has been purchased for $1.2 billion in what is likely one of the greatest U.S. tech acquisitions of 2018.
Recruit Holdings, a big Eastern human sources corporate that owns different activity websites like Certainly, spent 8 figures in money to obtain the decade-old corporate. Glassdoor hadn’t raised new cash in about two years, when it used to be valued by way of traders at round $860 million, so it most probably had to make a decision whether or not to boost extra money, promote or attempt to pass public.
The corporate reportedly used to be no less than taking into consideration an IPO in the second one part of 2018 and used to be interviewing banks that might take them there.
The deal, at a top class in comparison to that final value, is a long-anticipated win for mission traders who’ve waited so long as 11 years to take house some money. Early traders have incorporated Benchmark, Sutter Hill Ventures and Battery Ventures.
Along with activity listings, Glassdoor additionally offers staff the danger to anonymously describe their enjoy at firms to potential staff.
The deal is set as large as 2018’s different primary U.S. tech acquisition: Amazon’s acquire of the sensible doorbell corporate Ring.