NY Times Invests in Jobs Search Engine
The Times, along with Union Square Ventures and Allen & Company LLC, will take a minority interest in Indeed. The booming online jobs category, dominated by Monster.com and Yahoo's HotJobs, has hurt classifieds revenue at most newspapers nationwide.
The site at www.indeed.com adds 110,000 jobs daily from online sources like company Web pages, large and niche job boards, national and regional newspapers and associations.
The Times owns sites like www.nytimes.com, www.boston.com and www.about.com. More than 31 million users monthly visit the company's 38 Web sites.