NY Times Buys Into Vertical Jobs Search Site Indeed.com

The New York Times Company has made an investment into Indeed.com, a vertical search engine for jobs. Along with Times, Union Square Ventures and Allen
& Company
, are also investing in the company, for a total of $5 million.

The Stamford, CT-based startup is operating in a hot space of vertical search engines which aggregate jobs from across other big job sites and company websites. Among its competitors are SimplyHired, and even Yahoo’s HotJobs has started dipping its toes into the market.

For NYT, this might mean integrating Indeed.com listings on its websites’ jobs section, though it has not yet indicated so.

Investor Fred Wilson of Union Square Ventures writes on his blog: “We are a believer in what some of us are calling ‘sell side advertising’. That’s the idea that advertisers will put their ads on the Internet for anyone to find and display. And if the advertiser gets clicks back, they will pay for the clicks…Job search is one of the first places that sell-side advertising is going to happen…”

Official release here

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