TheLadders Reaches 200,000 Reader Milestone
Executive Job Search Web Site and Electronic Newsletter Rapidly Becomes Largest Online Source of $100k+ Jobs
NEW YORK (December 13, 2004) - TheLadders.com, the country's largest online job search engine catering exclusively to the $100k+ employment market, today announced that it has reached the 200,000 reader milestone in just 18 months. This rapid growth is significant in light of the company's business model, whereby revenues are generated from job-seekers rather than employers.
The brainchild of former HotJobs.com executive, Marc Cenedella, TheLadders.com has achieved such rapid growth in the high-end jobs space by tailoring its services to the specific needs of job seekers in the $100k+ marketplace. Among its most significant innovations, TheLadders.com has turned the traditional job board model upside-down, deriving revenues from job seekers who pay a monthly subscription fee for premium access to job listings. Employers and recruiters are able to post jobs free of charge.
This distinction enables TheLadders.com to keep unqualified job candidates out of the applicant pool and to provide a greater number of pre-screened, high-end job listings than any other source. Each week, TheLadders.com shares over 3,000 $100k+ job listings with its subscribers. The company also maintains a basic job leads newsletter for which it does not charge a fee.
Additionally, TheLadders.com has been designed to cut through the clutter of irrelevant job listings, segmenting the $100k+ job market into four industry-specific categories - each with its own Web site, newsletter and customer service blog. Sales professionals are able to work directly through www.salesladder.com, marketing professionals use www.mktgladder.com, finance professionals log in to www.financeladder.com and human resources/legal/operations /tech professionals enter through www.upladder.com. In providing distinct user experiences for professionals in different industries, the company is able to keep job seekers focused only on those listings that fit their specific areas of expertise. TheLadders.com also operates site for recruiters, called www.recruitladder.com.
"When we started TheLadders.com there was no information available to high-end job seekers. Fine... if you're looking for a waitressing job or a bartending gig; you can open the free weekly paper and find dozens. But where do you go if you're a GM of a division an SVP of Sales, a Marketing Director or Chief Legal Counsel?" explained Cenedella. "We set out to become the definitive resource for career opportunities, information and advice in the $100k+ marketplace. And we've done it."
Cenedella founded TheLadders.com in July 2003 after a tenure as Senior Vice President, Finance & Operations, at HotJobs.com, ultimately shepherding that company's sale to Yahoo, Inc. (NASD: YHOO) in 2002. In May 2004 he was named Entrepreneur of the Year by award-winning marketing newsletter, MarketingSherpa, which cited TheLadders.com's unique business model as a key to its sustained growth. In November, 2004 the company secured $7.25 million in expansion capital from top private equity firm Matrix Partners.