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Monster.com

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Monster Worldwide, Inc.
Type of site
Employment website
Available inMultilingual
FoundedJanuary 1999; 25 years ago (1999-01)
HeadquartersWeston, Massachusetts, U.S.
OwnerFunds managed by Apollo Global Management
Randstad NV
Founder(s)Jeff Taylor
Key peopleScott Gutz (CEO)
IndustryHuman resources
URLwww.monster.com
CommercialYes
RegistrationRequired
Current statusActive
Monster.com's headquarters in Weston, Massachusetts
Monster.com's headquarters in Weston, Massachusetts

Monster.com is a global employment website headquartered in Weston, Massachusetts. Along with its sister site, CareerBuilder, it is majority owned by funds managed by Apollo Global Management and is minority owned by Randstad NV.

History

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In the early 1990s, Jeff Taylor, the owner of human resources company Adion, contracted Net Daemons Associates to develop a facility whereby job seekers could search a job database with a web browser. The site went live in April 1994 as Monsterboard.com. It was populated with job descriptions from the newspaper segment of Adion's business.

It was one of the first employment websites.[1]

Shortly thereafter, it was acquired by TMP Worldwide, led by Andrew McKelvey, for $930,000. TMP also acquired Online Career Center and, in 1999, merged it with Monster Board to form Monster.com.[2][3]

In October 2000, Monster launched Monstermoving.com to provide resources to assist users with a successful move.[4]

In April 2002, Monster purchased the Jobs.com domain name and trademark for $800,000.[5]

In 2003, TMP completed the corporate spin-off of Monster.[6][7]

In August 2005, founder Jeff Taylor left Monster to create Eons.com.[8]

In 2006, the general counsel of the company was fired in connection with an options backdating scandal, and he was also investigated by the U.S. Securities and Exchange Commission.[9][10][11] Andrew McKelvey refused to be interviewed as part of an internal investigation and resigned from the board of directors.[12][13] James J. Treacy (1959-2020), who served as president and CEO of Monster, was found guilty by a jury in May 2009 and was sentenced to two years in prison.[14] The options backdating scandal also required the company to restate earnings since 2001. In April 2007, Sal Iannuzzi was named chairman and CEO, replacing William M. Pastore, who resigned as part of the scandal.[15][16][17][18][19]

In January 2008, Monster acquired Affinity Labs for $61 million.[20][21]

In July 2008, it acquired Trovix, a semantic job search engine, for $72.5 million.[22]

In February 2010, Monster acquired Yahoo HotJobs for $225 million and then integrated it into the Monster.com website.[23]

In 2011, Monster launched mobile apps.[24]

In the first quarter of 2014, Monster relocated its headquarters from Maynard, Massachusetts to Weston Corporate Center in Weston, Massachusetts.[25]

In February 2014, Monster acquired TalentBin, a talent search engine, and Gozaik, a developer of social jobs aggregation and distribution technology.[26][27]

In November 2014, Iannuzzi resigned under pressure after focusing on profits but failing to produce any.[28][29][30]

In June 2016, Monster.com acquired Jobr, a job search mobile app, for $12.5 million.[31][32]

In August 2016, Monster was acquired by Randstad NV, a multinational human resources and recruitment specialist, for $429 million in cash.[33]

In January 2018, Quess acquired Monster's business in India, SE Asia and the Middle East.[34] In November 2022, the name of this business was changed to Foundit, and that the website became a talent management platform in the Asia-Pacific and the Middle East regions.[35][36]

In September 2024, Monster merged with CareerBuilder, and funds managed by Apollo Global Management became the majority owner of the websites.[37]

Sponsorships

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Monster's first Super Bowl ad, "When I Grow Up", (created by Mullen for the 1999 Super Bowl) asked job seekers, "What did you want to be?" It was the only commercial named to the "Best of Television 1999" list by Time.[38][39]

Monster was the official online career management services sponsor of the 2002 Winter Olympics and the 2002 U.S. Olympic Team.[40][41]

Data breaches

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In less than two weeks in August 2007, Monster had numerous leaks that resulted in the loss of millions of customers' data to identity theft. Monster waited several days to announce this leak, a delay that drew heavy criticism.[42][43][44]

In January 2009, there was another large-scale leak at its UK-based site monster.co.uk, in which demographic information of up to 4.5 million people was obtained by hackers.[45]

In 2019, the company revealed a data breach resulting in resumes from May 2017 being shared online.[46]

See also

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References

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  1. ^ Kelly, Jack (June 14, 2021). "Monster, One Of The First Job Boards, Plans A Roaring Comeback Under A New CEO With A Focus On The Fast-Growing Generation-Z". Forbes.
  2. ^ Hansell, Saul (March 24, 2002). "The Monster That's Feasting on Newspapers". The New York Times.
  3. ^ "Monster". Encyclopædia Britannica.
  4. ^ "Monstermoving.com Leases Corporate Headquarters in White Plains". ALM. October 30, 2000.
  5. ^ Regan, Keith (April 19, 2002). "E-Commerce News: News: Monster Parent Pays $800K for Jobs.com Domain Name". Ecommercetimes.com. Archived from the original on 2010-04-28.
  6. ^ Hansell, Saul (February 18, 2003). "Once an Acquirer, TMP Worldwide Decides to Divide". The New York Times.
  7. ^ Dignan, Larry (October 22, 2002). "TMP makes Monster move". CNET.
  8. ^ "Monster Founder Leaving". The New York Times. Bloomberg News. June 14, 2005.
  9. ^ Gonsalves, Antone (November 22, 2006). "Monster.com Fires General Counsel In Stock-Options Probe". InformationWeek.
  10. ^ Taub, Stephen (February 15, 2007). "Former Monster Exec Pilloried by SEC". Informa.
  11. ^ Day, Ron (November 23, 2006). "Monster counsel fired in option-grants probe". The Seattle Times.
  12. ^ "Founder of Monster.com Resigns". The New York Times. Reuters. October 31, 2006. Archived from the original on 2008-01-30.
  13. ^ "Ex-CEO of Monster exits board amid scandal". The Gainesville Sun. The Associated Press. October 30, 2006.
  14. ^ "Monster Ex-Chief Is Found Guilty". The New York Times. Reuters. May 12, 2009.
  15. ^ Giannone, Joe; Kaufman, Christopher (August 9, 2007). "Monster CEO steps down, hires former Symbol head". Reuters.
  16. ^ Lagorce, Aude (April 12, 2007). "Monster Worldwide appoints Iannuzzi chairman, CEO". MarketWatch.
  17. ^ "Monster CEO Needs A Job". Forbes. April 12, 2007.
  18. ^ "Monster Worldwide CEO Pastore leaving; Iannuzzi named as replacement". The Mercury News. The Associated Press. April 12, 2007.
  19. ^ Vuocolo, Jonathan (April 13, 2007). "Pastore Agrees To Leave Post As Monster CEO". The Wall Street Journal.
  20. ^ "Monster buys S.F. Web operator Affinity for $61 million". The Mercury News. Bloomberg News. January 5, 2008. Archived from the original on September 13, 2022.
  21. ^ Marshall, Matt (January 4, 2008). "Monster buys community site, Affinity Labs, for significant $61M". VentureBeat.
  22. ^ "Monster Acquires Job Search Site Trovix For $72.5 Million; Military Site Armees.com". CBS News. July 31, 2008.
  23. ^ Schonfeld, Erick (February 3, 2010). "Monster Buys HotJobs from Yahoo for $225 Million". TechCrunch.
  24. ^ "Monster.com makes mobile a top priority for 2011". Industry Dive.
  25. ^ Wyner, Michael (October 30, 2013). "Monster moving from Maynard to Weston Corporate Center". The MetroWest Daily News.
  26. ^ Ha, Anthony (February 24, 2014). "Monster Acquires Recruiting Startups TalentBin And Gozaik". TechCrunch.
  27. ^ "Monster Acquires Social Recruiting Technology Players TalentBin and Gozaik" (Press release). Business Wire. February 24, 2014.
  28. ^ McLeod, Lisa Earle (November 12, 2014). "The Real Reason Monster's CEO Lost His Job". HuffPost.
  29. ^ Calia, Michael (November 4, 2014). "Monster Worldwide Names New CEO". The Wall Street Journal.
  30. ^ Calia, Michael (November 4, 2014). "Monster Worldwide names new CEO". MarketWatch. Archived from the original on 2014-11-04.
  31. ^ Perez, Sarah (June 9, 2016). "Monster snaps up 'Tinder for jobs' app, Jobr". TechCrunch. Archived from the original on October 12, 2016.
  32. ^ "Monster Acquires Jobr" (Press release). PR Newswire. June 8, 2016.
  33. ^ Lunden, Ingrid (August 9, 2016). "Randstad buys Monster for $429M as recruitment consolidation continues". TechCrunch. Archived from the original on August 10, 2016.
  34. ^ "Quess acquires job listing portal Monster's business units for $14 million". Business Standard. January 2, 2018. Archived from the original on 2023-04-18.
  35. ^ Kaur, Lavpreet (November 23, 2022). "Monster.com rebrands to foundit". Deccan Herald. Archived from the original on 2023-04-18.
  36. ^ Kannan, Uma. "Job search platform Monster rebrands as foundit; to focus on talent management". The New Indian Express. Archived from the original on 2023-04-18.
  37. ^ Moody, Kathryn (September 17, 2024). "Monster and CareerBuilder complete merger". Industry Dive.
  38. ^ "Monster.com - When I Grow Up". Ad Age. January 31, 1999.
  39. ^ "Video: Monster.com "When I Grow Up ..." Super Bowl, 1999". HuffPost. MSNBC. April 3, 2010.
  40. ^ NIELSEN, KIMBERLY (January 20, 2000). "Monster.com becomes first online sponsor for the 2002 Olympic Games". The Universe.
  41. ^ Roche, Lisa Riley (January 18, 2000). "A monster of a sponsor signs on with Games". Deseret News.
  42. ^ Finkle, Jim (August 30, 2007). "Data theft also hit U.S. government job site". Reuters. Archived from the original on 2009-08-19.
  43. ^ "Hackers Steal 1.6 Million Files From Monster.com". ABC News. August 22, 2007.
  44. ^ "'Marketplace' Report: Monster.com Security Breach". NPR. August 24, 2007.
  45. ^ Percival, Jenny. "Hackers steal jobseekers' details from Monster recruitment website".
  46. ^ Whittaker, Zack (September 5, 2019). "Monster.com says a third party exposed user data but didn't tell anyone". TechCrunch.
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