Monster has acquired Affinity Labs, which “builds online communities to improve the lives, careers and education of its members.” The deal was for $61 million cash
Checkout a sampling of their work at NursingLink.com or TheApple.com. A quick glance reveals a customizable social network solution like Ning with possibly more bells and whistles. It’s likely such a move reveals a greater desire for Monster to embrace successful networking models such as LinkedIn or Facebook.
The acquisition will increase Monster’s presence in several professional and vocational online sites, as well as provide the company with an efficient vehicle for developing future revenue streams, Monster said. However, they don’t anticipate the acquisition having a material impact on financial results in 2008.
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January 4th, 2008 at 10:47 am
Wow Joel,
Based on this entry and the one before, could this be the start of a consolidation period for the industry. Any insight on where you think this is going and who you think the key players may be would be appreciated. As always, thank you for the updates. I always open your site and Jobboarders first thing in the morning when I get in, forget CNN.com or MSNBC.com, I’m all about yours and Chris’s wonderful sites!! Thanks again!!!
January 4th, 2008 at 2:35 pm
Yeah, and didn’t you hear? Jobboarders is acquiring Cheezhead for $62 million in cash! Just kidding … yes, I think this is a trend, as discussed in my recent predictions. Stay tuned to Cheezhead for the latest.
http://www.cheezhead.com/2008/01/02/2008-predictions/
January 4th, 2008 at 4:06 pm
Thanks again Joel, 62 million for Cheezhead….What currency are we talking about?
Speaking of predictions, why didn’t you go into detail as to who may be going after who. Come on Joel, lets step out on a limb and get out of our comfort zone….lets be bold in ’08…..what’s next?
January 5th, 2008 at 2:59 pm
smart move and good timing. Just like it would have been foolish in 1998 for Monster to have boasted about killing the news paper business, it would be foolish for the social networking industry in 2008 to talk about killing the job board industry…
Take regional / vertical job boards add some community and social networking features and you get compelling proposition for employers and job seekers… (Charlene Li predicted this in 2006)
January 7th, 2008 at 5:47 pm
Wow! What a catch! It’s a good thing that this news didn’t get get out early because Larry Ellison would have JUMPED on this high tech mother! 62 big ones for a on-year old company with $1M in revenue. Mmmm. Sale price of 61 times forward earnings for a development-stage company developing dime-a-dozen RUBY-based websites? This MUST be a record of some sort.