Glassdoor Acquired. Indeed Digs a Moat.


Well... what started out as a pretty slow and boring ass week gained some steam by Hump Day.

So what happened?

- Glassdoor see acquiaition dollars from Indeed's parent company for $1.2 billion

- Monster lands a new CEO (Get it? Travel... Lands?)

- CareerBuilder goes down

- Oprah is giving everybody a FREE job board (Ok it's not Oprah)

- Google's demo of Duplex tech (AI) is a jaw dropper

- FairyGodBoss loves them some VC

Glassdoor-for-women site raised $3 million. Enjoy, and checkout our sponsors America's Job Exchange, Sovren and JobAdX.

PODCAST TRANSCRIPTION

El Chapo: Evidently, when El Chapo was incarcerated, the code of ethics that he instilled in Cabo and throughout Mexico has gone away. There's no code of ethics, there's no code of honor. All of a sudden, there's a war for power. So you're seeing things happen that you haven't seen in the past, where people, gangs, drug dealers, will actually go into restaurants and shoot up the place. That never happened before.

Announcer: Hide your kids. Lock the doors. You're listening to HR's most dangerous podcast. Chad Sowash and Joel Cheesman are here to punch the recruiting industry right where it hurts. Complete with breaking news, rash opinion, and loads of snark. Buckle up, boys and girls. It's time for the Chad and Cheese Podcast.

Joel: Hey hey hey kids, welcome to another week in the wild, wonderful, whimsical world of recruiting and HR. This is the Chad and Cheese Podcast, HR's most dangerous. I'm Joel Cheesman.

Chad: And I am Chad Chatbot Sowash.

Joel: This week, that'd be much more fun to work with. This week, Careerbuilder goes down, Monster finally gets a fearless leader, and, oh yeah, Glassdoor gets acquired. Buckle up, everybody. We'll be right back.

JobAdx: How many times has someone said to you, it's the Uber of, or it's the PayPal of, maybe they're the Facebook of. In many, many cases, these comparisons fall short of being close to reality, or even a useful illustration of what organizations actually do. In the case of JobAdX, our example is so accurate, so spot on, that it's synonymous with our work.

JobAdX: JobAdX is Google Ad Sense for jobs. That means we're an efficient, persistent, and smarter ad unit for job related advertising. As the best ad tool in the industry, JobAdX offers recruitment marketing agencies and staffing firms realtime, dynamic bidding and delivery for client postings through the industry's first truly responsive tool. All this is done with the flexibility of JobAdX's cost per impression, click or application. We offer unique budget conservation to effectively eliminate spending waste. We are not set in regrets.

JobAdx: For direct clients, JobAdX delivers superior candidates with the best of programmatic efficiency and premium page ad positioning. We also provide publishers and job boards higher web share than other partners through our smarter pragmatic platform. In many cases, 30 to 40% greater and more with our scalable model. To partner with us, you can visit or search jobadx.com or email us at joinus@jobadx.com to get estimates or begin working together. JobAdX. The best ad tool providing smarter pragmatic for your needs. Oh, and you've been wondering why the British accent? JobAdX has just launched in the UK, too.

Chad: Very nice.

Joel: We symbiotically became classier and global with hat ad. That's nice.

Chad: Thanks JobAdX, for making us more classy. I don't know that you can do that though, really.

Joel: And they show up with Guinness for live shows.

Chad: Oh yeah.

Chad: Classing the joint up, JobAdX. We appreciate it.

Chad: Well, let's talk about classy. Let's talk about throwing axes. Let's talk a little bit about that. You got a shout out for Nexxt, right?

Joel: Oh, a double axe with two x's. Now I showed up with the incorrect footwear which was a major mistake because I would've enjoyed kicking your ass in competition but that will have to wait for another day, apparently.

Chad: Yeah. First off, never gonna happen, and second, who shows up to an axe throwing event in flip flops? Joel Cheesman does, that's who does. He shows up and doesn't get an opportunity to throw like the regular people who have appropriate footwear, meaning like, tennis shoes, but he did get a couple of throws in and luckily we got tape of that.

Joel: Hey, a burly bearded man comes in barefoot. I don't know what's more ax throwing than that.

Chad: Like I said, you're like a younger version of Santa, so don't play the viking role.

Joel: Everybody loves Santa, alright? Everybody loves the fat jolly man in red, alright, but thanks to Nexxt, they have an office here in Indianapolis which some people don't know about. They had some of the Philly crew come in. We had pizzas, beers, moonshine, for God's sakes, and we threw axes. What's cooler than that? So, thanks to the Nexxt crew. Double x.

Joel: That was awesome. That was awesome guys, thanks. Shout out to Chris Pickle. She gets a shout out. She said something pithy, something funny on LinkedIn. I can't remember what it was. Do you remember what it was?

Joel: I don't know but I love her last name and she loves us, so that's enough for me. Anytime you get food last names on the show, you get props.

Chad: Well, if you know Chris Pickle, you don't call her Chris or Christina. You just call her Pickle. That's what she goes by, by Pickle.

Joel: Now we just need a burger to comment on the show and maybe a tomato and some onions and we gotta full meal.

Chad: Oh, Jesus.

Joel: I got a shout out for Lindsay Sanford. A Ratedly customer with network. She was at a Career Crossroads event recently and we both know Jerry and Chris very well. If you don't know Career Crossroads, you should, but anyway they were asking about cool tools that companies are currently using and Lindsay gave Ratedly a thumbs-up to the audience there, so we appreciate you, Lindsay. Not podcast related, but certainly from me, you get a big shout out.

Chad: Good stuff, good stuff. Well, I am here today at Recruit Con in Nashville and I had another drive by hugging by Susan Vitale. Now actually, we had a chance to sit and chill. She gave an amazing, I don't wanna say speech per se, but presentation on millennials and Gen Z'ers so the Joel Cheesman aura was in the room. Also, talking about Google for jobs, texting, does any of this sound familiar?

Joel: Yeah.

Joel: So, good stuff. Good stuff from Susan and another shout out to Elena Valentine from Skill Scout. Thanks for the awesome T-shirt. Yep, nope. She gave me an awesome T-shirt. It says, "your job post is as boring as this T-shirt. Skill Scout." Good job.

Joel: I'm glad Elena doesn't work for Lever because we'd have a whole issue with that big time. Thanks for the T-shirt, Elena. I appreciate it. I'm still waiting on line, by the way. My last shout out is to Nicole from Thompson Creek Window. Now, this is sort of random, but when we were at SHRM Talent, I ran into Nicole. Never met her before, but we started talking about pragmatic solutions. She started talking about hating Indeed because it costs too much. Salespeople are paying the ads, blah blah blah, stuff we've always heard. I said, Nicole, you need to get on the pragmatic bandwagon. I pimped out JobAdX, our newest sponsor. She contacted them, they got a deal in the works, so it looks like we're gonna make a match here in Chad and Cheese dating land for customers, so shout out to her and JobAdX. Go make some money and go get some great candidates.

Chad: Dude we're like the Tinder form pragmatic.

Joel: I like that.

Chad: That sounds good.

Joel: It doesn't quite ring as well as HR's most dangerous podcast, but it could work, it could work.

Chad: Can we do the show? Yes.

Chad: Oh my God. A little bit of news came out in what was a pretty slow week until Wednesday. Glassdoor gets acquired by Recruit Holdings out of Japan, who if you don't know, also owned Indeed. A little job site here in the states. I could go a lot of different ways with this. Do you have any preference with what we talk about first?

Chad: No, hit it. Hit it.

Joel: Alright, $1.2 billion.

Chad: Nice.

Joel: They actually published the amount which was sort of, I don't know, odd, because when they bought Indeed, there wasn't a published number.

Chad: Right.

Joel: The whispered number was about $1.6 billion, which would put it in line with the Glassdoor acquisition. I'd like to talk about pricing first because some people think it's a great deal, others think it's not a great deal. I tend the side on the not so great deal. Glassdoor had $200 million in investment money. They had been rumored to go IPO, which I think Google for Jobs probably put a little bit of a damper on that and typically you want 10 X out of your investment cash, which would've put that at a $2 billion dollar event if my math is right. So, to me it was almost a half price on what they should've gotten based on their investment cash. What's your take?

Chad: So, again, going back looking at Google for Jobs, don't you think it was one of the tactics? Hey, we've gotta take a good price and that price isn't gonna be 10 X. We've gotta take something. Take it now before it drops even more.

Joel: Yeah, I think this was on both Recruit Holding's and Glassdoor driven by Google. I think Recruit Holding, I would say if a bully goes on the playground, what happens? The weaker kids get friends fast and to me, Google is the big bully that showed up on the playground and Recruit Holdings with Indeed said, holy crap. This shit's going down. We need some reinforcements. Let's look at Glassdoor who we know going public, they're looking for a cash out event. That spurred an easy conversation, I'm sure, with them.

Joel: Now on Glassdoor's side, I'm sure looking at, oh yeah, let's go public and as we are a public company, let's watch Google for Jobs grow and keep biting at our market share and valuation and watch our stock price go lower and lower. I think that's the future that they saw in their IPO and Google drove that deal, I think, big time.