NYT Co. Invests in Job Search Engine

By: E&P Staff

The New York Times Company has purchased a minority interest in Indeed, Inc., a search engine for job seekers. The New York Times Co., Union Square Ventures, and Allen & Company, LLC are together investing $5 million for the minority stake.

“We believe it is important to invest in new technologies and services in this advertising category,” Martin Nisenholtz, senior vice president, digital operations for The New York Times Co., said in a statement.

Indeed claims to add over 110,000 new jobs each day from over a thousand Web sites. Sources for job ads include major and niche job boards, national and regional newspapers, individual company career pages, and hundreds of associations.

The New York Times Co.’s sites include the flagship NYTimes.com, About.com, Boston.com, and 35 other Web sites that together attract more than 31 million users each month.

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