As the national unemployment rate continues to linger around 10%, there is no shortage of people looking for jobs. Popular employment website, Monster.com might be looking to snatch up some market share as today it announced the acquisition of Yahoo HotJobs for $225 million.
The two companies also signed a traffic agreement stating that Monster will supply all career and job content to the Yahoo homepage in the United States and Canada for a period of three years. Monster will have a chance to negotiate similar traffic deals with other global Yahoo properties once the acquisition is complete. According to a Monster.com announcement, the deal is expected to be finalized sometime within the third quarter of 2010.
By adding to its database, Monster.com should be able to help employers and job seekers to find more diverse employment opportunities, while bringing Monster some fresh traffic. Meanwhile, there’s no shortage of competing employment sites for job-seekers to scour, including CareerBuilder.com, which says it has more job listings than any other site.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More