HIRE will be on Fire Today!!
Wednesday July 28, 7:58 am Eastern Time
Company Press Release
Webhire Teams With Yahoo! to Offer Yahoo! Resumes
Premier Internet Recruiter to Provide Resume Management Tools for Job Seekers on Yahoo!
LEXINGTON, Mass.--(BUSINESS WIRE)--July 28, 1999-- Yahoo! Agrees to Make Minority Investment in Webhire
Webhire, Inc. (Nasdaq:HIRE - news) today announced an agreement with Yahoo! Inc. (Nasdaq:YHOO - news), a leading global Internet media company, to deliver Yahoo!® Resumes, a new online resume management tool. Yahoo! Resumes is a key part of an expanded set of job-seeker services offered through Yahoo! Careers (http://careers.yahoo.com). Through the new relationship, Yahoo! and Webhire will also work together to identify and develop expanded recruiting solutions. The company also announced that Yahoo! has agreed to participate in SOFTBANK's $20 million cash investment announced by Webhire on July 20, 1999. Yahoo! will make a $1,500,000 investment for a minority equity position in Webhire. In addition, Webhire has agreed to run an extensive advertising campaign on Yahoo!
Beginning today, Yahoo!'s millions of users can enter their resumes online at Yahoo! Resumes, powered by Webhire. Through this dedicated area of Yahoo! Careers, job seekers will be able to advertise their skills to top employers and easily apply for job openings found in Yahoo!'s extensive database of more than 500,000 job listings.
''We are delighted to bring Webhire's Internet recruiting solutions to job seekers through Yahoo!'s powerful career platform,'' said Marty Fahey, Webhire president. ''Working with Yahoo! Resumes, we can offer millions of Yahoo! users a secure, personalized place to enter, edit and manage their resumes on the Internet. Once job seekers enter their resumes in Yahoo! Resumes, they can easily apply to any of the more than 500,000 jobs listed at Yahoo! Careers.''
Internet recruiting is one of the fastest growing applications of Internet commerce. By December 31, 2000, Forrester Research estimates that 98 percent of all companies will fill some or all of their job openings through Internet recruiting resources. Thomas Weisel Partners estimates that approximately 15 million jobs will be filled online in the next 12 months, representing a total market value for the U.S. electronic recruiting marketplace of approximately $30 billion per year. (e*Cruiting: From Job Boards to MetaMarkets/ by H. Perry Boyle, Thomas Weisel Partners; May 25, 1999).
''In today's economy, where workers look for jobs with increased frequency, the Internet has quickly become a central place for connecting job seekers and employers,'' said Tanya Singer, producer for Yahoo! Careers. ''By providing fast, dedicated and easy-to-use career management tools through Yahoo! Resumes, we can offer our users a valuable online career management forum as they look for their next career opportunity. Our relationship with Webhire, a premier provider of Internet recruiting solutions, demonstrates our commitment to providing a compelling experience for the millions of people that make Yahoo! part of their everyday lives.''
About Yahoo! Careers
Yahoo! Careers brings information and services together in one location on a wide variety of career-related topics, so that people can easily walk the Web to find what they need whether looking for a first job, making a career change, starting a new business, or rejoining the workforce. In addition to offering a one-stop online resume shop through Yahoo! Resumes, Yahoo! Careers connects users with an extensive nationwide database of more than 500,000 job listings. Yahoo! Careers also delivers career-related news and feature articles; in-depth industry and company profiles; areas dedicated to topics for the college graduate to the aspiring entrepreneur; salary and benefit information; relocation resources; networking forums including chats, clubs and message boards; as well as links to businesses and career-related Web sites.
About Webhire, Inc.
Webhire is a leading provider of end-to-end Internet recruiting solutions, designed to help employers use the Web to quickly and cost-effectively connect with job seekers and efficiently manage the hiring process. Offerings include Webhire JobPost and Webhire JobCanopy, fully automated job posting solutions; Webhire Recruiter, an outsourced candidate management service on the Web; and Webhire Enterprise, a comprehensive intranet-based recruiting suite for large enterprises. All Webhire solutions leverage the Webhire Network, a large open network of Internet recruiting sites and service providers with more than 60 job board destination partners including Yahoo! Careers, Monster.com, AOL Digital Cities, Career Magazine, Black Voices and Computerworld.com. More than 1,000 organizations, from fast-growing companies like Millennium Pharmaceuticals and Rational Software to Fortune 500 enterprises such as American Express, Boeing and Time Inc., depend on Webhire solutions for some or all of their recruiting automation needs. More information about Webhire is available on the World Wide Web at www.webhire.com or by calling 1-877-WEBHIRE. Webhire, based in Lexington, Mass., is traded on the Nasdaq National Market under the ticker symbol HIRE.
Webhire is a trademark of Webhire, Inc. Yahoo! and the Yahoo! logo are registered trademarks of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company's actual results could differ materially from those set forth in the forward-looking statements. Factors that might cause such a difference include effectiveness of strategic partnerships, changes in technology and industry standards, increased competition and market acceptance of the Company's products and services and those of its competitors.
NOTE TO EDITORS: In the name e*Cruiting, noted in this news release, there is an ''asterisk'' symbol between e and Cruiting. This symbol may not appear properly in some systems.
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Contact:
The Weber Group
Allison Hyder, (617) 520-7033
ahyder@webergroup.com
or
Webhire, Inc.
Greg Mancusi-Ungaro, (781) 869-5324
gregmu@webhire.com |
