Wednesday, February 10, 2010

Desperation - Now Hiring



I did briefly see this ad during the Super Bowl on Sunday.

And I thought to myself, "CareerBuilder is still in business?"

Maybe 9 years ago I might have put my resume on that site when I moved from Philly to NYC, but don't think I've even heard its name mentioned since then.

I guess I figured that everything went to Craigslist and LinkedIn (and maybe Monster.com). So is there even a market for CareerBuilder??? Especially these days when NO ONE is hiring!

A quick google on this subject revealed that Monster just bought HotJobs from Yahoo for $225 million.

Apparently, Yahoo had first bought it for $432 million some 8 years ago. Ouch!

Perhaps it's just me that thinks CareerBuilder obscure...

But I just don't think companies with scant name recognition after a decade in business, in an imploding industry, ought to be spending $3 million on Super Bowl ads.

Here we are....link:

CareerBuilder released its North American revenue numbers today, which show that while it has been hurt by the recession, it’s still ahead of its closest competitor.

For the fourth quarter, CareerBuilder reported $131 million in revenue, a 30.5 percent decline from the last quarter of 2008. For the whole year, CareerBuilder’s North American revenue was $542 million, down 26.7 percent from the year before.

As a privately held company, CareerBuilder isn’t required to report any of its financials.

Revenue down 26.7% from 2008....that's to be expected.

But a gross total of $542 million in revenue?

Color me shocked, and ignorant, that the top line could possibly be that high!

Again, business is vanishing; they spent all that money producing and running a Super Bowl ad; and I'll bet the marketing team and management is thinking they knocked the cover off the ball with their commercial.

Big freakin' deal.

4 comments:

Rich said...

Hehe niiice. Were it not for this and the "Medical Manipulation" post, I'd have never known. Monster, HotJobs and Careerbuilder also suck as compared with the alternatives you mentioned (LinkedIn and Craig's List) because they provide a myriad of blackhole e-mail application addresses and wildly incorrect/fake posting dates

Justin Time said...

Have you ever seen what they charge companies per job listing? It's not insignificant.

Plus, they partner with online newspapers, etc., driving in traffic that may not even realize they are browsing the CareerBuilder listings.

And as for Craigslist...really? I suppose if you are looking for a career in exotic massage or indentured servitude.

Orion said...

I think Career Builder is owned at least in part by one of the publsihing companies-the Tribune Co. if I'm not mistaken. They run the newspaper job ads in the Hartford Courant. Apparently that means they advertise for the lowest wage worst jobs out there. But they make money-so maybe the Tribune spun off one of their few money making businesses.

CaptiousNut said...

Justin,

Hedgefunds in NY advertise on Craigslist.