Seek Delivers
August 18, 2008 by Geoff Jennings
There’s good money still to be had in the traditional job board model. If you are Seek. They finished the financial year with total sales up 34% to $210.2 million. Nice.
Not hard to see why. Even their competitors are advertising with them…
mmm, show’s they are growing I guess, with all those new jobs.
Interestingly the majority of our staff come from the LinkMe database. Notwithstanding, we will use any means at our disposal to source staff - Seek, Linkedin or elsewhere. It also gives us a good handle on relative effectiveness.
Certainly a strong result from Seek, but Citigroup had some words of caution… “Seek’s core classifieds revenue stream was “a superb business”, Citigroup said, but it rated the stock “high risk”, due to the possibility of a cyclical downturn in employment conditions, an emerging trend towards in-house employment portals for large companies, and increasing competition from rival job boards, job board aggregators and free sites like Craigslist”.
mmm interesting. A search for LinkMe job ads on Seek shows 0! Does this mean they are no longer accepting LinkMe job ads as they see LinkMe as being a direct competitor? Threatened?
Yes, strange…
Would have thought they would get their thirty days at least.
[...] it was Linkme, see article here, now it’s Hippo. Hippo is now advertising, see job ad here, for sales staff…on Seek [...]