TheLadders.com Rethinks Job Search Business, Customers Follow
Executive Job Search Website and E-Newsletter Reaches 100,000 Reader Milestone
NEW YORK (June 23, 2004) - Reinventing the online job search business for the $100k+ segment of the marketplace, TheLadders.com (www.theladders.com) announces that it has built a reader base of 100,000 in just 11 months. The rapid growth is significant in light of the company's atypical business model, whereby revenues are generated from job-seekers rather than employers.
"By flipping the job search business model upside down we've been able to keep a laser-focus on the high-end market, delivering the kind of personalized attention and quantifiable results that are expected at that level," explained TheLadders.com founder and president, Marc Cenedella. "By doing that one thing better than anyone else, we've not only been able to grow our base of readers very quickly, but also grow our own ranks. Our Manhattan-based headquarters has come alive with the buzz of 17 employees and counting."
Each month, the TheLadders.com team of experts reviews over 160,000 jobs to select more than 7,000 jobs for inclusion in their weekly newsletters. The company searches the Internet for job postings, or, alternatively, employers can post jobs free of charge - a critical difference from traditional job boards because it enables TheLadders.com to list every appropriate $100k + job opening on the market, not just paid listings. This distinction allows TheLadders.com to filter out any questionable job listings that do not meet the company's standards for credibility.
TheLadders.com does not charge a fee for its basic job leads newsletter for job seekers. Instead, it generates revenues by offering a premium service to job seekers, which includes a greater number of job listings, more detail, early delivery, and more features for $30 per month. TheLadders.com's premium service fee keeps unqualified candidates out of the applicant pool and, thus, encourages employers to look at TheLadders.com applicants first.
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.