Executive Job Search Web Site and Electronic Newsletter Saw Sharp Growth Throughout 2004 and Q105
NEW YORK (May 5, 2005) - TheLadders.com, the country's largest online job search engine catering exclusively to the $100k+ employment market, today announced that it has extended its market share leadership in the high-end job search category. Now entering its third year of operation, TheLadders.com has claimed 57 percent of the total market share of Web visits in the high-end job search category* for April 2005, according to data provided by Hitwise, the world's leading online competitive intelligence service. The analysis was based on Internet visit patterns to a total of six high-end, online job search engines from December 2003 through April 2005.
TheLadders.com's market share of visits to these six high-end job sites has grown from just over 6 percent in January '04 to its current level of 57 percent (April 2005).
Company CEO Marc Cenedella attributes his company's continued success to its ability to consistently deliver more promising job leads than any other source. "We're not in the advertising business; we don't take money from recruiters or HR managers; we work for the job seeker. This allows us to do two things: 1) We can screen job listings very carefully and only post the solid prospects, and 2) We are able to post a vast number of jobs, not just those that a recruiter has paid us to list. Our customers have been quick to see the value in this approach."
TheLadders.com business model has been central to its success among high end job seekers. The company has turned the traditional job board model upside-down, deriving revenues from job seekers who pay a monthly subscription fee for premium access to job listings. Employers and recruiters are able to post jobs free of charge. This distinction enables TheLadders.com to keep unqualified job candidates out of the applicant pool and to provide a greater number of pre-screened, high-end job listings than any other source. Each month, TheLadders.com shares over 20,000 $100k+ job listings with its subscribers. The company also maintains a basic job leads newsletter for which it does not charge a fee.
Cenedella founded TheLadders.com in July 2003 after a tenure as Senior Vice President, Finance & Operations, at HotJobs.com, ultimately shepherding that company's sale to Yahoo, Inc. (NASD: YHOO) in 2002. In November, 2004 the company secured $7.25 million in expansion capital from top private equity firm Matrix Partners.