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Deal Activity In Recruiting & Media Space Still Frothy
I left a comment this morning on one of Cheezhead’s posts, commenting about whether or not Edgeio’s demise was unique to their business or indicative of what’s to come in 2008 in the online recruiting space. While I think Edgeio had their own issues that created significant problems for them (detailed here), I also think that the chaos in this space will continue unabated next year. There will be plenty of failures, consolidations, and general pruning. I also think that there will be tremendous innovation among players in the space, as well as an abundance of new entrants into the field. Private equity dollars will continue to flow into the sector, and M&A activity will remain high.
Interestingly enough, right after posting my comments, I saw the following two stories: Jobvite raised $7.2M from CMEA Ventures, and The Publishing Group of America was bought by Bain Capital and Shamrock Capital Growth Fund. Looks like 2008 will be just as interesting, dynamic, and competitive as 2007 has been.
[tags]Cheezhead, Jobvite, The Publishing Group of America, Bain Capital, Shamrock Capital Growth Fund, Recruitment Advertising Industry, Media, Publishing, Media M&A, Publishing M&A[/tags]