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Monster Acquires Affinity Labs, Developer Of Vertical Career Sites, For $61 Million

By Joseph Weisenthal - Fri 04 Jan 2008 06:05 AM PST

Online jobs firm Monster Worldwide has acquired SF-based Affinity Labs, a developer of community sites centered around various vocations, for $61 million in cash. Examples of its portfolio include Policelink.com, NursingLink.com and ArtBistro, each of which offers community, social networking and content related to the stated vertical. Affinity Labs was founded by CEO Christopher Michel, who previously founded community and social networking site Military.com, which was also sold to Monster in 2004. Michel will now join Monster management. Already, Monster and Affinity had a strategic relationship, whereby Monster sold advertising for the company, while Monster users had direct access to Affinity’s services. Affinity, which has backing from Mayfield and Trinity Ventures, raised less than $10 million in a first round last year according to VentureWire. Release.

The idea behind the acquisition is pretty clear: it’s a bet that social networking will grow in importance as part of the career search process. Social networking sites, particularly LinkedIn, but others as well, are seen as growing competitors to the established jobs sites. So now Monster is getting more aggressive about pushing back.

Posted in: Social Media, VC+M&A

Tags: affinity labs, monster worldwide,

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3 Responses:
  • From iraq Fri 04 Jan 2008 09:25 AM

    How do I get the balance in this programme

  • From Josh Walsh Fri 04 Jan 2008 12:36 PM

    Finally a technology acquisition rooted in a simple decision.  A full acquisition, not partial, and in cash.

    Bravo Monster.

  • From Dina Sun 06 Jan 2008 01:37 AM

    It’s great to see Chris Michel succeed not once - but twice - with Monster acquisitions.  And this makes a lot of sense - military.com is making some nice $$ for Monster, and hopefully the same will be true for Chris’ next set of networks.

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paidContent.org, flagship of the ContentNext Media network, provides global coverage of the business of digital content.

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