Mountain View, CA – Wednesday, April 19, 2006 – Simply Hired (www.SimplyHired.com), the world’s largest search engine for jobs, today announced a $13.5 million strategic investment by News Corporation’s Fox Interactive Media and prestigious venture capital firm Foundation Capital. The financing brings the company’s total funding to $17.7 million. Representatives from both Foundation Capital and Fox Interactive Media will join the company’s Board of Directors.
“Fox Interactive Media’s growth strategy is to strategically partner or acquire category leaders and technology innovators that broaden or enrich our users’ experience,” said Ross Levinsohn, President of Fox Interactive Media. “Our investment in Simply Hired underscores that approach and we look forward to working with them to power job search for a variety of properties on our network.”
Joining Fox Interactive Media in this investment is Foundation Capital, which has been behind numerous successful Internet ventures, including Netflix and Netzero. “As the general search space has matured, we see vertical search as the next big opportunity,” said Paul Holland, general partner at Foundation Capital. “The entrepreneurs behind Simply Hired have demonstrated their ability to build a successful Internet business. They’re clearly on the right track with this venture as well. Both Foundation Capital and Fox Interactive Media have recognized an opportunity to create a significant business here.”
“Simply Hired has created the most simple, effective job search experience on the planet,” said Gautam Godhwani, CEO of Simply Hired. “Fox Interactive Media are focused on developing an Internet presence that offers a deeper, richer online experience for its millions of passionate users. With the operational expertise of the team at Foundation Capital and the global presence of News Corporation, we will create a world class job search experience for a large audience.”
About Foundation Capital
Founded in 1995, Foundation Capital is a venture capital firm committed to supporting entrepreneurs and their companies, targeting innovative opportunities in telecommunications and networking; Internet infrastructure; and enterprise software and on demand services. Foundation Capital funds total more than $1.6 billion. For more information, visit www.foundationcapital.com.
About Fox Interactive Media
With the third largest reach of any Internet company, Fox Interactive Media (FIM) is building an integrated network of sites that offer its more than 70 million worldwide users socially rich media experiences centered on entertainment, news, information and self-expression. The company’s network includes Internet assets from News Corp. divisions, including the highly trafficked Foxsports.com, Americanidol.com and Fox.com. FIM also owns and operates such category leaders as MySpace, the number one social networking site on the Web; IGN, a leading gaming and entertainment site; Scout.com, a dynamic collegiate and pro sports network; AskMen, a leading men’s lifestyle site, and Rotten Tomatoes, the premier destination for movie-goers, among others.
About Simply Hired, Inc.
With more than 5 million job listings and counting, Simply Hired (www.SimplyHired.com) is the world’s largest search engine for jobs. We search thousands of sources, including large and small job boards, newspaper and classified listings, and company websites. Our mission is to help people find their ideal jobs in the simplest way possible.
Simply Hired has been named one of the “50 Coolest Websites 2005” by Time Magazine, Business Week’s “Best of the Web,” PC World’s “50 Best New Websites,” and the “Next Net 25” by Business 2.0.
Simply Hired has raised $17.7M in funding from News Corporation’s Fox Interactive Media, Foundation Capital, Garage Technology Ventures and individual investors. The company is privately held and is based in Mountain View, California.