Finding a new job or a new employee can be a monstrous task, but Monster Worldwide aims to help. Its network of online career services is led by Monster.com, a job search website operating in local markets globally across 55 countries. Most of Monster's revenue comes from employers who pay to post job listings and search the site's database of resumes. Job seekers can post resumes and search listings free of charge. Monster also generates revenue by selling advertising on its websites, which include offerings aimed at students and military personnel.
The company made industry news and expanded significantly when it acquired rival HotJobs from Yahoo! in mid-2010. Yahoo! sold HotJobs in for $225 million in an attempt to divest its non-core assets. Besides expanding its pool of job postings and candidates, Monster gained access to HotJobs' network of 600 daily and weekly newspapers.
The expanded newspaper relationship helps connect job hunters with smaller, local employers, especially in the health care, education, skilled, and hourly job segments. Overall the acquisition expanded Monster's newspaper partnerships from 400 to 1,000. Also part of the deal, Monster and Yahoo! signed a three-year agreement in which Monster became the primary career and job content provider for Yahoo!'s homepage in the US and Canada.
A main component of the company's growth strategy involves extending its reach into additional international markets, primarily in Asia, Europe, and Latin America. Additionally, Monster launched a site in Brazil in 2010 which it believes will act as a springboard for future growth inside South America's largest country. – less