The New York Times Company Acquires Interest in Indeed, Inc.
NEW YORK, August 8, 2005 - The New York Times Company announced today an investment in Indeed, Inc. (www.indeed.com), a search engine for jobs that enables job seekers to search millions of job listings from over a thousand Web sites. The Times Company, Union Square Ventures and Allen & Company, LLC are together investing $5 million for a minority interest.
"We are pleased to join Union Square Ventures and Allen & Company in backing Indeed, an innovative new firm that provides compelling job search capabilities to Internet users," said Martin Nisenholtz, senior vice president, digital operations. "The Times Company has strong help-wanted franchises in print and online, and we believe it is important to invest in new technologies and services in this advertising category."
Indeed is the most comprehensive search engine for jobs, adding over 110,000 new jobs per day - more than any other job search engine. Indeed includes jobs from over 1,000 unique sources, encompassing company career pages, major and niche job boards, national and regional newspapers, and hundreds of associations. Indeed indexes all new jobs from each source every day, making it the freshest and most accurate source of jobs on the Web.
"Our relationship with The New York Times Company, Union Square Ventures and Allen & Company will help us extend our lead as the number one search engine for jobs," said Paul Forster, CEO and co-founder of Indeed. "We look forward to working with them in our goal of revolutionizing job search."
The New York Times Company's highly successful Web sites - which include NYTimes.com, About.com, Boston.com and 35 other Web sites - are visited by more than 31 million users each month, and include the leading Internet sites owned by a news organization. The Times Company is the 11th largest corporate online network. NYTimes.com alone generated 472 million page views in June.
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