Indeed

Update – Indeed (Raised Money)

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Web 2.0 This Week (July 31 – Aug. 6)


Company: Indeed
Previous Profile: August 4, 2005
Location: Stamford CT

Indeed raised $5 million from the New York Times, Union Square Ventres and Allen & Company. This comes on the heals of Simply Hired’s $3m raise last week (Profile).

Congratulations Indeed! The money aside, a strategic partnership with the NYT is absolutely tremendous. Having access to Union Square Ventures (Fred Wilson and Brad Burnham) and Allen & Co. is also worth more than the money they’ve raised. This really is very important news.

My bet is the Simply Hired guys are not enjoying their day.

The New York Times Company Acquires Interest in Indeed, Inc.

NEW YORK, Aug. 8, 2005 – The New York Times Company announced today an
investment in Indeed, Inc. (www.indeed.com), a search engine for jobs
that enables job seekers to search millions of job listings from over a
thousand Web sites. The Times Company, Union Square Ventures and Allen
& Company, LLC are together investing $5 million for a minority interest.

“We are pleased to join Union Square Ventures and Allen & Company in
backing Indeed, an innovative new firm that provides compelling job
search capabilities to Internet users,” said Martin Nisenholtz, senior
vice president, digital operations. “The Times Company has strong
help-wanted franchises in print and online, and we believe it is
important to invest in new technologies and services in this advertising
category.”

Indeed is the most comprehensive search engine for jobs, adding over
110,000 new jobs per day – more than any other job search engine.
Indeed includes jobs from over one thousand unique sources, encompassing
company career pages, major and niche job boards, national and regional
newspapers, and hundreds of associations. Indeed indexes all new jobs
from each source every day, making it the freshest and most accurate
source of jobs on the Web.

“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,” said Paul Forster, CEO and co-founder of
Indeed. “We look forward to working with our new partners in our goal
of revolutionizing job search.”

The New York Times Company’s highly successful Web sites – which include
NYTimes.com, About.com, Boston.com and 35 other Web sites – are visited
by more than 31 million users each month, and include the leading
Internet sites owned by a news organization. The Times Company is the
11th largest corporate online network. NYTimes.com alone generated 472
million page views in June.

About The New York Times Company
The New York Times Company (NYSE: NYT), a leading media company with
2004 revenues of $3.3 billion, includes The New York Times, the
International Herald Tribune, The Boston Globe, 16 other newspapers,
eight network-affiliated television stations, two New York City radio
stations and 35 Web sites, including NYTimes.com, Boston.com and
About.com. For the fifth consecutive year, the Company was ranked No. 1
in the publishing industry in Fortune’s 2005 list of America’s Most
Admired Companies. The Company’s core purpose is to enhance society by
creating, collecting and distributing high-quality news, information and
entertainment.

About Indeed
Indeed is a search engine for jobs – with a radically different approach
to job search. In one simple search, Indeed gives job seekers free
access to millions of employment opportunities from over a thousand
sources, including company Web sites, job boards, newspapers and
associations. With the familiar look and feel of general search
engines, Indeed makes it easy for job seekers to drill down by keyword
and location to jobs that fit their requirements precisely. Job seekers
may also save their searches as email alerts or RSS feeds. Indeed.com
was selected by Time magazine as one of the 50 Coolest Web sites for
2005. Indeed is a privately held company based in Stamford,
Connecticut, founded by Paul Forster and Rony Kahan. For more
information, please visit http://www.indeed.com.

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