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ZipRecruiter, Inc. operates a platform that allows employers to post job openings to a nationwide job board network.
Its Web-based technology simplifies the hiring process by allowing companies to post jobs on various job boards and manage applications online.
Employers can use the platform to identify, screen, and track potential employees, while job seekers receive email alerts containing relevant posts based on their skill set.
ZipRecruiter is an online job board that aggregates job openings across several similar sites.
ZipRecruiter Business Model is primarily based on monetizing its services by offering a subscription starting at $249 per month, with the price varying based on which services are offered.
Additionally, the company earns money with a PPC strategy through a service called ZipAlerts.
What is ZipRecruiter?
ZipRecruiter is a job board that is accessible to companies and job seekers. The company’s job posting will be syndicated to more than 100 different job sites in addition to ZipRecruiter’s website, ensuring maximum exposure.
ZipRecruiter’s business model revolves around charging businesses for access to its platform. There are also other products such as ZipAlerts and JobBoard.io that can be purchased.
ZipRecruiter was founded in 2010 and headquartered in Santa Monica, California, and has enjoyed quick success with its consumers.
ZipRecruiter’s website is visited by over 25 million people each month and the company posts over 9 million jobs.
How Does ZipRecruiter Work
ZipRecruiter is an online employment board that connects companies with job seekers.
You can access ZipRecruiter via the company’s website or mobile applications, which are available for Android and iOS.
ZipRecruiter may be used as a standard job board, but it offers much more than a place for businesses to post job openings.
ZipRecruiter’s 100+ job boards are updated when employers post new jobs on ZipRecruiter.
ZipRecruiter has also developed technology that searches their massive resume database and alerts potential candidates to apply for the job.
Additionally, the marketplace has the following features:
- Other job sites can use ZipSearch’s API for advertising 8 million jobs posted on the platform.
- ZipRecruiter’s referral program, ZipPost, allows agencies and other platforms to resell ZipRecruiter job postings to their existing contacts.
- You can find jobs on Job Board.io. This SaaS solution allows you to build your custom job board.
- ZipRecruiter’s database provides salary information for over 7.5 million jobs and 35,000 different job titles.
- Testimonials from job seekers about the cultures of different companies
… and plenty others. ZipRecruiter says it finds qualified candidates for 80% of the jobs it posts.
ZipRecruiter is based in Santa Monica, California, and has operations in the United States and the United Kingdom.
How Does ZipRecruiter Make Money?
Employment boards such as Craigslist and Monster charge a flat fee for each advertisement posted.
On the other hand, the ZipRecruiter pricing packages have long sought to differentiate themselves from their competition.
The company has expanded beyond a simple employment portal since its inception.
ZipRecruiter now offers multiple products and services that they monetize through a variety of channels.
Here we will examine ZipRecruiter’s monetization methods in more detail.
Subscription Plans
ZipRecruiter makes most of its revenue from the monthly subscription plans it charges businesses to utilize their site.
Plans begin at $249 per month. ZipRecruiter often produces a customized plan for each client depending on their unique demands and size.
Meanwhile, the monthly subscription rate varies according to several aspects, including the following:
- The number of resumes that need to be downloaded
- The number of employees who use ZipRecruiter
- The number of job ads posted each month
- Location and industry of the customer
To assuage customers’ concerns, all plans begin with a free trial period. In addition, ZipRecruiter offers three different pricing tiers: Standard, Premium, and Enterprise.
Advanced subscriptions (i.e., Premium and Enterprise) include extra benefits like premium placements in job alert emails, access to a database of over 25 million resumes, and a dedicated ZipRecruiter team that controls customer spend.
Finally, the higher a company climbs the price ladder, the more jobs it can list monthly. Prices are available upon request and are not made public.
ZipAlerts
ZIPALERTS is an email marketing tool that directly allows businesses to contact qualified applicants through pay-per-click (PPC) campaigns.
Job seekers may conduct a job search and sign up for email alerts about similar jobs by visiting the ZipRecruiter website or one of their partner job boards.
Whenever a job matching the user’s search criteria becomes available, these alerts are sent to their mailbox.
The firm must pay ZipRecruiter (hence the name Pay-Per-Click) when a candidate clicks on the job advertisement contained in the email.
There are different costs per click based on location, type of job, and demand within a particular industry.
Businesses might allocate a monthly budget for email promotion to avoid overspending.
White-label Software
JobBoard.io offers websites the ability to launch their job board and instantly display more than 8 million ZipRecruiter jobs.
ZipRecruiter acquired JobBoard in December 2017 to use its technology. Companies that have registered with JobBoard can tailor the number of jobs and the type of jobs that are posted.
They can also access a dedicated blog, integrate Google Jobs, and receive 24/7 customer service.
There are two plans available: Professional and Enterprise. Plans start at $549 per month for Professional plans, and Enterprise plans can be arranged upon request.
Every plan has its own set of features and varies regarding how many jobs can be submitted and how many team members can access the service.
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ZipRecruiter Business Model
Customer Segments
ZipRecruiter offers to recruit and job search services to a variety of individual and business clients. ZipRecruiter’s website features a list of its individual and business clients.
The Sigma Law Group, Applebee’s, Safety Management Group, Matrix Medical Network, Lighthouse Management Group, and MONZINGO are among the company’s enterprise customers.
ZipRecruiter has a sizable customer base in its native United States and a sizable customer base in the United Kingdom.
Value Propositions
Clients of Ziprecruiter benefit from the following features:
- Strength of its brand and prominence in the industry
- Accessibility and flexibility
- Innovation commitment
- It has a large user base
- Reaching a global audience
Channels
Visit ZipRecruiter’s website at http://www.ziprecruiter.com/ to learn more about ZipRecruiter’s many services, solutions, and activities.
ZipRecruiter’s website also functions as a platform for job search and recruitment, with visitors being able to access the portal directly from the ZipRecruiter home page.
Ziprecruiter offers support and services through dedicated sales and service teams, specifically in the United Kingdom and the United States. A majority of these employees are based in the United States, where the company has offices.
Ziprecruiter also uses affiliates to reach customers. Ziprecruiter’s affiliate partners are responsible for driving traffic to the site and generating business on its behalf.
Customer Relationships
Ziprecruiter offers business and individual customers a self-service platform that provides them with various tools and services that can be used without engaging company sales or service teams.
Individuals can search, apply for, search for, and edit their personal job ads and profile information. ZipRecruiter is also staffed by sales and service personnel who can assist customers more personally.
Further, ZipRecruiter boasts several social media accounts that enable the company to communicate with corporate clients and share company developments.
Key Activities
ZipRecruiter is a company that specializes in recruiting and hiring. The Company offers both individual job seekers and commercial recruiters various services, including recruiting, hiring, job boards, job postings, web applications, candidate screening, applicant monitoring, and job notifications.
Key Partners
Ziprecruiter collaborates with a network of companies and organizations to develop and provide its services. There are four broad categories of collaborators:
- Providers and Vendor Partners
- Technology and Software Partners
- Affiliates and publishing partners
- Partners for distribution and listing
- Alliances and Strategic Partners
Ziprecruiter has developed many strategic alliances over the past few years.
Partnerships include Recruiterbox on a strategic level, InfinityHR on a recruiting level, and Greenhouse Software on a software level.
Key Resources
Ziprecruiter’s principal assets are its proprietary technologies and intellectual property, its web platform and software solutions, its IT and communications infrastructure, its support channels, and its partnerships.
There are no published records of patent applications submitted in ZipRecruiter’s name, either as applicant or assignee.
ZipRecruiter also owns or leases many physical locations that make up its network of service centers and offices.
Cost Structure
Ziprecruiter incurs costs as it develops and maintains its online platform, maintains and upgrades its information technology and communication infrastructure, manages its partnerships, obtains professional services, executes marketing campaigns, and retains staff members.
Revenue Streams
ZipRecruiter makes money by offering both individual job seekers and commercial recruiters various job search and recruitment services.
Most of the Company’s revenue comes from charging commercial recruiters for services, including a nominal fee for posting jobs on its website.
The Company’s premium offerings are available at three different price points: Starter, Team, and Enterprise.
Success Story of ZipRecruiter
The founders of ZipRecruiter, Ian Sigel, Joe Edmonds, Will Redd, and Ward Poulos, created the service in 2010 to provide a trustworthy and reliable platform for recruiters and job seekers to use.
The Ziprecruiter website is just one of many internet employment boards on the Internet. On the other hand, ZipRecruiter syndicates jobs to over 100 similar sites when a recruiter posts a job there.
This eliminates a significant amount of time and expense connected with the recruitment process for firms.
Recruiters can review the list of applications and candidate profiles via a dedicated portal after the job posting is live.
Additionally, recruiters can look at resume databases and encourage qualified applicants to apply using proprietary technology.
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What is the Funding and Valuation of ZipRecruiter?
Crunchbase reports that ZipRecruiter has raised $219 million in venture capital funding.
When the company completed its most recent (Series B) financing in October 2018, its value was approximately $1.5 billion. As a result, ZipRecruiter is now an official unicorn.
Investors include Institutional Venture Partners (IVP), Wellington Management Company, and Industry Ventures.
What is the Valuation of ZipRecruiter?
ZipRecruiter is privately funded and expanding (any enthusiastic podcast listener has undoubtedly heard at least one ZipRecruiter advertisement in their life). As such, it will not reveal revenue or profit/loss data publicly.
Key Takeaways from the ZipRecruiter Business Model
ZipRecruiter was founded in 2011 to provide an efficient and dependable platform for job seekers and hiring firms.
ZipRecruiter’s flexible and customized pricing options set it apart in the job search business.
This is especially true for medium- to large-sized companies, working with professional account managers to customize a strategy to meet their specific needs.
Additionally, ZipRecruiter earns money by providing software to businesses interested in starting their job boards.
Additionally, the organization makes money by letting recruiters target suitable individuals via email PPC advertising.
