From Netscape v1.0 to Web 2.0 Our Story spans 2 Eras and 20 Years
Many of Avature’s senior management worked together in a previous endeavor, HotJobs.com. Dimitri Boylan co-founded HotJobs.com with Richard Johnson in 1997, served as COO and later CEO, took the company public, and sold it to Yahoo! in 2002.
The HotJobs.com story was one of early web innovation (patented online parser, real-time web content publishing, etc.), rapid
Aside from becoming the second largest online recruiting system in the United States, HotJobs.com also introduced the first fully web-based enterprise recruiting system as an ASP (latter referred to as SaaS) product in 1998, which supported 10 large multinational companies by 2001. HotJobs.com also acquired and restructured Resumix, the largest client-server ATS product in the world (over 200 Fortune 500 customers).
At the time HotJobs.com was purchased by Yahoo! for $433MM in cash and stock in 2002, it was the 49th most visited website on the Internet, and supported a user base of millions. The company grew to 750 employees, 14 offices, and over 6,000 customers.
HotJobs.com grew from $3.4MM in revenue in 1997 to $117MM in revenue in 2001 and raised $168MM in private and public capital. In 2001, HotJobs.com’s NASDAQ market cap increased 300% in a year that the market index declined over 30%. At the time of sale, HotJobs.com was both pro forma profitable and cash flow positive.
Some of our team remained at Yahoo! for several more years before rejoining Boylan at Avature.
Convinced that leading recruiting software companies were not helping their customers leverage technology to gain competitive advantage, at Avature we set out to define next generation software based on Web 2.0 and the changing role of the Internet in peoples’ lives.
We developed a powerful Federated Search technology called WebSources, which quickly became popular with a new breed of recruiting professional – sourcing specialists.
Next, we turned our attention to candidate engagement. Leading CRM products were not suitable for recruiting, so we designed our branded email marketing features for passive candidate engagement, developing advanced segmentation based on candidate progress through pipelines and talent pool attributes.
Finally, we realized that every company has a different way to go to market and attract and retain great Talent, so we delivered a flexible solution modeling capability for the creation of referral management, agency management, internal mobility, and even fully bespoke recruiting solutions for any region of the world.
Today, Avature continues to find new ways to deliver innovative software, so our customers can define pioneering business practices and find their competitive edge.
We continue to learn more from our customers as they expand the use of the Avature platform to meet their different business challenges. Our unique software development cycle allows us to respond quickly with new and updated code every three weeks! We like to think that the best is yet to come.