OnTargetjobs, the parent company of online job provider Hcareers has acquired JobLoft.com, a hospitality and retail job board located in Toronto, Canada. The combined companies are claimed to “now hold the number one spot as the dominant provider of online recruitment solutions for the hospitality industry.”
JobLoft.com allows users to find employment opportunities in their community, and then have them visually displayed using Google Maps. The site has a focus towards providing hospitality industry jobseekers the opportunity to find the most suitable job to fit their needs and experience level in their community.
Hcareers provides industry-specific online recruitment solutions within the hospitality and foodservice industry worldwide and is based in Fort Worth, Texas.
Financials for the acquisition were not disclosed.
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The only reason to care about this one is cause they were on TV.
http://youtube.com/watch?v=Z9EkablfWVk
http://youtube.com/watch?v=lj8MNEgiDTU
and the kicker:
http://youtube.com/watch?v=vdbThklcD_8
Hi Duncan,
the financials would have been very interesting, but if they were not disclosed, not much you can do, I guess. However, I think some other corner data like number of users, business model of the company that was bought, etc is of much interest to TC readers.
Cheers
Michael
–
http://viibee.com, online dating is fun again
Well this is an interesting purchase, now they really seem to control the market
Monster watch out!!
I find this very interesting as I remember they had a deal for 250K CND fall through with Dragons Den (a CBC show) mostly due to being completely green about the business world. NEVER ask your university professors advice over 5 high net worth entrepreneurs worth over a billion dollars! My guess is they got a few million for it and need to stick around for at least the next year.
Jon
I think the site should have focus more towards IT industries, hospitality industry seems to be very narrow and more vertical though.
It sucks that the purchase price isn’t published. With so many job boards being bought these days, job board owners are having a tough time coming up with proper valuations for their sites.
I would be hard pressed if they got any more than 5 million.
If you want a job, contact MS!
iTards and Lie-nuts users need not apply!
http://fakesteveballmer.blogspot.com
Hcareers is based in Vancouver, Canada
onTargetjobs is based in Fort Worth, Texas
I bet they didn’t get more than $500,000 based on how the press release was worded.
Rizzy, keep in mind that the company has 4 or 5 founders… so if they sold it for 500K, that’s 100K each… hardly worth it unless their business model was failing OR they each got roughly 500-1M each CND.
Jon
Is hcareers.com really the biggest hospitality job site? I think sites like http://www.hotelscareers.com and http://www.catererglobal.com are big hospitality sites with international traffic. And what about hcareers.com compared to careerbuilder.com?
Ben S, yes Hcareers is the largest job board for the hospitality industry by a long shot. They have more jobs than any board including non-industry specific boards like Monster or CareerBuilder. hotelscareers.com is very small in comparison.