Looks like the Microsoft partnership will really help this company.
From Briefing.com:
CAREERBUILDER INC (CBDR): Investors in online recruitment services company, CareerBuilder Inc, are hoping that the miserable post-market performance of recent initial public offering Topjobs (TJOB 11 7/16 -5/16) is not indicative of market's interest in online job sites. TJOB came public last month at $12 per share. After racing to more than $21 a share on its first day of trading, the stock has fallen into a tailspin. TJOB shares currently trade more than 4% below their offering price. One thing TJOB didn't have going for it, however, was the Microsoft name. Earlier this month, CareerBuilder entered into strategic arrangement with Microsoft Corp (MSFT), under which MSFT purchased 1.37 mln shares of CBDR shares at $13 a piece. The company also issued MSFT warrants to purchase 73,534 shares of common stock at an exercise price of $13.00 per share. Under terms of the agreement, CBDR will develop career sites for the Microsoft Network and Microsoft Sidewalk... CareerBuilder is planning to sell 4.4 mln shares at $10-$12 a piece, in an IPO underwritten by CS First Boston. Financials: For the fiscal year ended December, the company logged revenue of $7 million, an increase of 263% over the 1997 period. Net loss widened from $2.5 million to $7.9 million... According to data furnished by research firm Forrester Research, the online recruitment market will increase to $1.7 billion by 2003, compared to $105 million in 1998. Forrester also forecasts that, by 2003, most large companies, 60% of medium-sized companies and 20% of small companies will use the Internet for recruiting purposes.
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