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Introducing TheLadders.com: A Job Search Service for the $100k+ Set

Former HotJobs Executive Combines Industry Insight with Personal Touch; Conquers Last Frontier in Online Recruitment <Back

NEW YORK (March 23, 2004) - Amidst seemingly never-ending news about the slow job market, one entrepreneur is delivering a hearty dose of optimism and insight to job seekers at the highest end of the market. Marc Cenedella, the former Senior Vice President, Finance & Operations, at HotJobs.com, who shepherded that company's highly successful sale to Yahoo! Inc. (NASD: YHOO) in 2002, has founded TheLadders.com, a job search engine, e-mail newsletter and customer service blog, designed to streamline online recruitment in the $100k+ segment of the employment marketplace.

The $100k+ Jobs Dilemma

"The biggest irony in the job market is that the more successful you are, the tougher it is to get solid information about new job opportunities. Where do you go if you're a VP of Finance? Or an SVP of Sales? Or a CFO?" said Cenedella. "I designed TheLadders.com based on my experience in the Internet recruiting business to address the fundamental concerns of this underserved portion of the job market."

Each month over 3,000 new sales jobs, marketing jobs and finance jobs are selected by TheLadders.com team of experts for inclusion in their weekly newsletters. The seven-month-old company's personal touch has struck a chord in this exclusive slice of the market by addressing the central dilemma in the $100k+ job search process: recruiters posting high-wage jobs on traditional Web-based services routinely get inundated with hundreds of resumes from unqualified candidates. On the other side of the equation, high-end job seekers typically have privacy concerns that lead them to either not list their resumes online at all, or to create such non-descript profiles that they easily get lost in the pack. TheLadders.com has found a way to pre-qualify both job seekers and employers, enabling both to realize the benefits of online recruitment.

Unique Business Model

TheLadders.com addresses the specialized needs of the high-end market by turning the traditional recruitment business model upside down. The company searches the Internet for job postings, or, alternatively, employers can post jobs free of charge: a critical difference from traditional job boards because it enables TheLadders.com to list every appropriate $100k+ job opening on the market, not just paid listings. This distinction allows TheLadders.com to filter out any questionable job listings that do not meet the company's standards for credibility. TheLadders.com also does not charge a fee for its basic job leads newsletter for job seekers. Instead, it generates revenues by offering a premium service to job seekers, which includes a greater number of job listings, more detail, early delivery, and more features for $30 per month. TheLadders.com's premium service fee keeps unqualified candidates out of the applicant pool and, thus, encourages employers to look at TheLadders.com applicants first.

"The fundamental difference between TheLadders.com and everything else out there is that we work for the job-seeker. TheLadders.com does not accept money from hiring firms, employers, or recruiters. We work for who pays us: the $100K+ job-seeker," said Cenedella. "For high-end job-seekers, the ability to see quality, screened jobs right there in their inboxes every Monday morning is a godsend."

The Right Voice for the Right Time

Bridging the gap between the far-reaching resources of the Internet and the personal attention of a job coach, TheLadders.com is resonating with $100k+ job seekers who find its tone to be perfectly in sync with the current market. Subscribers have been quick to profess their approval for the service on TheLadders.com's one-of-a-kind customer service blog, with comments such as: "This is the best service I have seen;" "[I] was wondering why someone hadn't done something like this just for sales professionals before now;" and "[I] am so glad you did. I appreciate the caliber and quality because time is money."

Tailoring separate newsletters to job seekers in the sales, marketing and finance sectors, TheLadders.com team is able to speak candidly and directly in a voice that is consistent with the industry being served. The personalized format, along with the customer service blog, also allow Cenedella and his staff to provide regular updates on new job postings and intelligence gathered from recruiters and job seekers with whom they maintain daily contact.

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About TheLadders.com
Headquartered in New York, TheLadders.com, Inc. is a privately held company offering online job search services to recruiters and job seekers in the $100k+ employment market. Ex-HotJobs.com executive Marc Cenedella founded TheLadders.com in 2003 to address the unique job seeking and recruiting requirements in this market sector. Investors include leading venture capital firm Matrix Partners and prominent private investors such as Kevin Ryan, CEO, DoubleClick, Tom Matlack, Megunticook Management, and Robert Chefitz, NJTC Venture Fund.

In addition to its primary member-based site, the Company operates vertical job search Web sites for sales, marketing, finance, human resources, law, technology, and operations. All sites feature daily job updates as well as industry-specific weekly e-newsletters. For corporate and executive recruiters, TheLadders.com delivers the same highly personalized experience. TheLadders for Recruiters (www.recruitladder.com) enables them to easily post $100k+ job openings at no charge. The Company further differentiates itself from other online job boards that fall prey to fraudulent job postings by implementing human mediated search, ensuring all job postings are fully qualified before being published to members.

More information about TheLadders.com can be accessed at www.theladders.com.

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Media Contacts
Maria Schiller
TheLadders.com
646-453-1913
maria.schiller@theladders.com