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The author doesn't know the price. The acquisition price wasn't announced but you can bet it was for close to, if not more than, $1 billion

patio11 14y ago
Ooh, let me put on my reporter hat: is there a publicly traded company involved? Yes? Then there should be copious disclosures getting made here. Let's see, bought out by Recruit, that should have made the papers today here... http://headlines.yahoo.co.jp/hl?a=20120926-00000021-jij-int http://headlines.yahoo.co.jp/hl?a=20120926-00000021-jij-int This is a blurb about Recruit (a Japanese company) making the acquisition, sourced to a NYT filing with the SEC. The NYT is a shareholder. That filing should be public. Sure enough: http://www.sec.gov/Archives/edgar/data/71691/000119312512402528/d415408d8k.htm http://www.sec.gov/Archives/edgar/data/71691/000119312512402... On September 25, 2012, Indeed.com, a job listing aggregator, announced that it will be acquired by Recruit Co. Ltd. In connection with the transaction, The New York Times Company will sell all of its remaining interest in Indeed.com and expects to record an estimated after-tax gain of approximately $100 million in the fourth quarter of 2012. Now let's play "Guess what percentage the NYT owned." My guess is "below 10%", on the basis that a) this makes sense for a three-way Series A round (Crunchbase) and b) I have the vague impression that if they owned more than ~10% that would be in their Annual Report next to the discussion of their other joint ventures and investments where they own e.g. 17.5% of a sports company. Indeed.com is mentioned in no annual report of the Times since 2005, and has also failed to appear in any SEC filing except when they liquidated a "minor portion" of their stake for $5.9 million back in 2011, so I'm assuming they've got a substantial stake but not enough to trigger reporting requirements. Quick math suggests, yep, a billion bucks at the low end.
- senoff 14y ago
  Excellent due diligence. If you just take the revenues and expenses and project them out a bit it's not hard to see $1B in value.

patio11 14y ago

Ooh, let me put on my reporter hat: is there a publicly traded company involved? Yes? Then there should be copious disclosures getting made here. Let's see, bought out by Recruit, that should have made the papers today here... http://headlines.yahoo.co.jp/hl?a=20120926-00000021-jij-int http://headlines.yahoo.co.jp/hl?a=20120926-00000021-jij-int This is a blurb about Recruit (a Japanese company) making the acquisition, sourced to a NYT filing with the SEC. The NYT is a shareholder. That filing should be public. Sure enough: http://www.sec.gov/Archives/edgar/data/71691/000119312512402528/d415408d8k.htm http://www.sec.gov/Archives/edgar/data/71691/000119312512402... On September 25, 2012, Indeed.com, a job listing aggregator, announced that it will be acquired by Recruit Co. Ltd. In connection with the transaction, The New York Times Company will sell all of its remaining interest in Indeed.com and expects to record an estimated after-tax gain of approximately $100 million in the fourth quarter of 2012. Now let's play "Guess what percentage the NYT owned." My guess is "below 10%", on the basis that a) this makes sense for a three-way Series A round (Crunchbase) and b) I have the vague impression that if they owned more than ~10% that would be in their Annual Report next to the discussion of their other joint ventures and investments where they own e.g. 17.5% of a sports company. Indeed.com is mentioned in no annual report of the Times since 2005, and has also failed to appear in any SEC filing except when they liquidated a "minor portion" of their stake for $5.9 million back in 2011, so I'm assuming they've got a substantial stake but not enough to trigger reporting requirements. Quick math suggests, yep, a billion bucks at the low end.

senoff 14y ago
Excellent due diligence. If you just take the revenues and expenses and project them out a bit it's not hard to see $1B in value.