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Monster Worldwide

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This article is about the company. For the website, see Monster.com. For the audio/video cable company, see Monster Cable Products.
Monster Worldwide, Inc.
Company typeSubsidiary of Randstad Holding
IndustryEmployment agency
Founded1967; 57 years ago (1967)
Headquarters133 Boston Post Road Building 15 Weston, Massachusetts[1]
Area served
Worldwide
ParentRandstad Holding
Websitewww.corporate.monster.com

Monster Worldwide, Inc., formerly TMP Worldwide,[2] is an American provider of employment services, most notably Monster.com.[3] Through online media sites and services, the company delivers targeted audiences to advertisers.[citation needed]

History

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In 1967 (57 years ago) (1967),[1] Andrew McKelvey founded Telephone Marketing Programs (TMP), a directional marketing company, focused on Yellow Pages advertising.[4] In 1993, McKelvey partnered with recruitment advertising innovator Don Tendler, formerly of Davis & Dorand, to launch and grow a recruitment division for TMP.[citation needed]

In 1995, TMP's recruitment division acquired The Monster Board and Online Career Center (OCC). TMP Worldwide went public in 1996 and its career websites grew and eventually merged as Monster.com in 1999.[citation needed]

Also in 1999, TMP Worldwide acquired LAI Worldwide,[5][6] formerly Lamalie Associates, to create an executive search division.[citation needed]

Monster Worldwide

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TMP Worldwide was officially renamed Monster Worldwide in May 2003,[7][3] with its divisions Monster, TMP Worldwide Advertising & Communications and TMP Worldwide Directional Marketing all keeping their names.[3] The former eResourcing and Executive Search divisions of TMP were also spun off to create Hudson Highland Group. The Yellow Pages directional marketing division was sold in 2005.[citation needed]

Radancy

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On August 31, 2006, Monster Worldwide's advertising and recruitment operations split to form TMP Worldwide Advertising & Communications, LLC in a US$45 million management buyout.[8][9]

Option backdating

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James J. Treacy (1959-2020), who served as president and CEO of Monster, was charged of conspiring with other officers of the company to systematically backdate option grants over a period from 1997 to 2003. He was found guilty by a jury in May 2009 in the United States District Court for the Southern District of New York, and was ultimately sentenced to serve two years in prison.[10]

Randstad

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In August 2016, Monster Worldwide was acquired by Dutch resource services provider Randstad for US$429 million.[11][12]

CareerBuilder

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On 1 July 2024 (33 days ago) (2024-07-01), Randstad agreed to transfer a controlling interest in Monster Worldwide to CareerBuilder, LLC, represented by the latter's investors, including Apollo Funds. Randstad was to continue to hold a minority stake. The new company structure was to include senior executives from both companies.[13]

See also

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References

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  1. ^ a b "Monster Worldwide - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2023-12-21.
  2. ^ "Monster name change for TMP Worldwide". CNET. Retrieved 2023-12-21.
  3. ^ a b c Brown, Rodney (2003-04-28). "Monster brand eats up TMP Worldwide; company to become Monster Worldwide". Boston Business Journal.
  4. ^ "TMP Worldwide official website".
  5. ^ "Yellow Pages Giant TMP to Acquire Executive-Search Firm LAI Worldwide". wsj.com. 17 March 1999.
  6. ^ "COMPANY NEWS; TMP WORLDWIDE IS BUYING LAI IN $84 MILLION STOCK DEAL". The New York Times. Bloomberg News. 1999-03-12. ISSN 0362-4331. Retrieved 2023-12-21.
  7. ^ "Monster name change for TMP Worldwide". CNET. April 30, 2003. Retrieved 2023-12-21.
  8. ^ "TMP opts for $45M management buyout from Monster". Boston Business Journal. 2006-09-01.
  9. ^ "TMP Worldwide | LinkedIn". www.linkedin.com. Retrieved 2023-12-21.
  10. ^ "Monster Ex-Chief Is Found Guilty". The New York Times. Reuters. 2009-05-12. Retrieved 2009-05-13.
  11. ^ "Randstad Acquires Monster Worldwide for $429 Million". www.linkedin.com. Retrieved 2023-12-21.
  12. ^ "Randstad to buy US rival Monster for $429 million". CNBC. 2016-08-09. Retrieved 2023-12-21.
  13. ^ MarketScreener (2024-07-01). "CareerBuilder, LLC has reached an agreement to acquire Monster Worldwide, Inc. from Randstad N.V." MarketScreener. Retrieved 2024-08-02.

Bibliography

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    • Historical business data for Monster Worldwide, Inc.:
    • SEC filings


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