www.exec-appointments.com held their launch party in the Metropolitan Hotel Dubai at the end of April which was good fun.
Good luck to Gamal Abdulla and the team as they grow that business. The site adds another badly needed Vertical jobsite to the Middle East and I hope the trend continues. There are a few Horizontal Regional sites now but specialists are surely needed.
Slightly related is the news I spotted on another blog yesterday about a deal between Microsoft and CareerBuilder. You can see the post here http://jimstroud.com/2007/05/10/microsoft-buys-a-stake-in-careerbuilder/
The headline is that Microsoft buys nearly $0.5bn of stock in CareerBuilder. As it happens it appears the deal is more an advertising swap where CareerBuilder have signed a deal to be the provider exclusively to MSN and other MS sites until 2013, and instead of paying $413 for the privilege, they'll give Microsoft a load of stock.
It's also a minority interest, so quite cleverly it values the company very highly even though no sale or exchange of cash has occured. In terms of cashflow, CareerBuilder have bought an endless amount of advertising but not parted with cash. Sweet deal! I wonder if this is going to set a precedent for how online portal and related recuitment software companies will grow in the next few years?
Wednesday, May 09, 2007
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