CareerBuilder + Monster acquired by Bold Holdings for $28.4Mn
DELAWARE, UNITED STATES — CareerBuilder + Monster, an online job advertising provider, has been acquired by Bold Holdings for $28.4 million in a bankruptcy auction.
The sale marks a major turning point for the struggling platform, which filed for Chapter 11 protection in June after years of declining market share.
Bold’s winning bid includes a cash payment and a commitment to retain at least 350 employees.
New ownership, familiar faces
According to a court filing dated July 19. The acquisition now awaits final court approval at a hearing scheduled for July 24 in Wilmington, Delaware, Bold Holdings, headquartered in Puerto Rico with offices in India and Poland, was founded by former Monster executives Doug Jackson and Jamie Freundlich. The company operates career-focused platforms including MyPerfectResume, FlexJobs, and Zety.
Jeff Taylor, a founder of Monster, confirmed the news in a LinkedIn post, describing Bold’s leadership as “people who understand the legacy and the opportunity.”
CareerBuilder + Monster currently ranks as the world’s 20th-largest provider of online job advertising, according to Staffing Industry Analysts (SIA). Their platforms serve millions of job seekers and employers in the U.S. and beyond.
More assets change hands
Two other divisions of Monster were also sold. Monster Government Solutions went to Partner One Capital and Sherrill-Lubinski for $13 million.
Montreal-based Valnet US, a media and publishing firm, acquired Monster’s media assets, including Military.com and Fastweb.com, for $27.3 million.
All winning bidders agreed to retain most of the employees associated with their respective purchases.
Randstad disputes sale terms
However, not all parties are satisfied. Randstad, a minority shareholder in Monster, has filed a formal objection over unpaid contractual obligations.
While the proposed cure payment totals just under $790,000, Randstad claims it is owed more than $1.19 million, along with $15,660 in legal fees.
An internal letter from CareerBuilder + Monster CEO Jeff Furman confirmed the deal to employees and noted that while the transaction is a key milestone, operations will continue as usual until court approval is secured.
No buyers emerged for the company’s international commercial operations.
Related news
- CareerBuilder, Monster finalize merger deal · 19 Sep 2024
- YourTeam to add 50 jobs in Dublin expansion · 24 Jul
- Career Bank revenue drops 28% after BPO exit · 24 Jul
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
