The job-hunting website Glassdoor has been bought for $1.2 billion in what is one of the largest U.S. tech acquisitions of 2018.
Glassdoor, the iconic job-hunting website, has been bought for $1.2 billion
The buyer: Recruit Holdings, a Japanese human resources company that owns multiple job sites.
Recruit Holdings, a large Japanese human resources company that owns other job sites like Indeed, spent ten figures in cash to acquire the decade-old company. Glassdoor hadn’t raised new money in about two years, when it was valued by investors at around $860 million, so it likely needed to decide whether to raise more money, sell or try to go public.
The company reportedly was at least considering an IPO in the second half of 2018 and was interviewing banks that could take them there.
The deal, at a premium compared to that last price, is a long-anticipated win for venture investors who have waited as long as eleven years to take home some cash. Early investors have included Benchmark, Sutter Hill Ventures and Battery Ventures.
In addition to job listings, Glassdoor also gives employees the chance to anonymously describe their experience at companies to prospective employees.
The deal is about as big as 2018’s other major U.S. tech acquisition: Amazon’s purchase of the smart doorbell company Ring.
This article originally appeared on Recode.net.
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