Monster Worldwide

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 type	Subsidiary
Traded as	NYSE: MWW Nasdaq: MNST
Industry	Employment agency
Founded	1967; 58 years ago (1967)
Headquarters	133 Boston Post Road Building 15 Weston, Massachusetts[1]
Area served	Worldwide
Parent	Randstad Holding
Website	corporate.monster.com
Footnotes / references [2][3]

Monster Worldwide, Inc., formerly TMP Worldwide,[4] is an American provider of employment services, most notably Monster.com.[5] Through online media sites and services, the company delivers targeted audiences to advertisers.^[citation needed]

History

In 1967 (58 years ago) (1967),[1] Andrew McKelvey founded Telephone Marketing Programs (TMP), a directional marketing company, focused on Yellow Pages advertising.[6] 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,[7][8] formerly Lamalie Associates, to create an executive search division.^[citation needed]

Monster Worldwide

TMP Worldwide was officially renamed Monster Worldwide in May 2003,[9][5] with its divisions Monster, TMP Worldwide Advertising & Communications and TMP Worldwide Directional Marketing all keeping their names.[5] 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

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.[10][11]

Option backdating

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.[12]

Randstad

In August 2016, Monster Worldwide was acquired by Dutch resource services provider Randstad for US$429 million.[13][14]

CareerBuilder

On 1 July 2024 (6 months 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.[15]

See also

• Apollo Global Management
• CareerBuilder
• Monster.com
• Randstad NV

References

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

External links

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