New York Times buys stake in job search engine
9 August 2005
The New York Times Company has reportedly purchased a small stake in jobs search engine Indeed.com
The New York Times Union Square Ventures, and Allen & Company, LLC are investing a total of $5 million for the minority stake in the job seekers website.
A metasearch engine for jobs, Indeed.com claims that it adds more than 110,000 new jobs to its search index every day from over a thousands websites.
"We believe it is important to invest in new technologies and services in this advertising category," Martin Nisenholtz, senior vice president of digital operations for The New York Times, said in a statement.
“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,” added 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 owns a number of websites, including NYTimes.com, About.com and Boston.com. The company invested $410 million in About.com last year and reportedly intends to continue its online expansion strategy.
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