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Monster Worldwide, Inc.
(212)
351-7000
622
Third Avenue
New
York, New York 10017
www.monsterworldwide.com
Sales
$680
million
Business Description
Founded in 1967, Monster Worldwide, Inc. is the parent company of
Monster, the leading global online careers property. We also own TMP
Worldwide, the world's largest Yellow Pages advertising agency and one of
the world's largest recruitment advertising agencies. Our more than 495,000
clients include, on a non-exclusive basis, approximately 90 of the Fortune
100 and approximately 490 of the Fortune 500 companies. These Fortune 100
and Fortune 500 clients accounted for 21% and 39%, respectively, of our
revenue for the year ended December 31, 2003.
We are headquartered in New York with approximately 4,300 employees in 19
countries. Our executive offices are located at 622 Third Avenue, New York,
New York 10017. Our telephone number is (212) 351-7000 and our Internet
address is www.monsterworldwide.com. We make all of our filings with the
Securities and Exchange Commission ("SEC") available on our website, free of
charge, under the caption "Investor Relations—SEC Filings." Included in
these filings are our annual reports on Form 10-K, quarterly reports on Form
10-Q, current reports on Form 8-K and amendments to those reports, which are
available as soon as reasonably practical after we electronically file or
furnish such materials with the SEC pursuant to Sections 13(a) or 15(d) of
the Securities and Exchange Act of 1934.
Our Services
We operate under three business segments: Monster, Advertising &
Communications, and Directional Marketing, which for the year ended December
31, 2003, represented approximately 63%, 20% and 17% of our revenue,
respectively.
Monster
Our flagship brand Monster was founded in 1994 (the 454th commercial website
in the world) and has since revolutionized the way employers and job seekers
connect with one another. We help our clients streamline and more
effectively manage their entire hiring process by providing them with
one-stop-shopping for their recruitment needs online.
Monster also offers jobseekers the best tools for them to manage their
careers. Our online services, including free access to national and
international job listings, significantly reduce the amount of time spent on
job searches compared to traditional media such as newspaper classified
advertisements. Monster also provides jobseekers ways to network with one
another, obtain career advice and sharpen their employment search skills.
As of February 2004, the Monster global network, which includes
complementary job search websites such as flipdog.com and jobs.com,
consisted of 22 local content and language sites in countries throughout
North America, Europe and the Asia Pacific Region.
Our Monster properties, which represent all sites and domains owned or
operated by Monster Worldwide or its subsidiaries or with whom they have
commercial arrangements, recorded over 52 million visits during the month of
January 2004 according to independent research conducted by I/PRO, and were
the 19th most visited sites on the Internet. In January 2004 our Monster
properties recorded the leading power ranking of all career-based websites
at 283.2. Power ranking is a metric that multiplies our properties' reach of
11.8%, by an average of 24 pages viewed per U.S. based visitor, both as
reported by comScore Media Metrix for the month of January 2004. Our next
closest competitor recorded a power ranking of 204.0. We consider power
ranking a significant measure of our Monster properties' usefulness to job
seekers and an indicator of the amount of time a potential jobseeker spends
on our online properties to search for jobs, post resumes or research career
related information.
In January 2004, our clients had access to over 34 million resumes in
Monster's resume database, which was growing by an average of more than
46,000 resumes daily. Our Monster properties had over 43 million job seeker
members, over 312,000 member companies and over one million unique job
postings within the Monster network.
To retain and attract users to Monster, we continue to refine and refresh
the site by introducing additional features that complement and enhance the
user's career management experience.
We continue to expand our career management services into vertical markets.
In addition to the traditional services offered on our job search websites,
our dedicated communities offer a variety of tools, services and content
tailored to specific segments of the employment market. These communities
include the non-exempt (hourly & skilled), government, and healthcare
sectors, as well the diversity & inclusion community, which provides job
seekers a wide range of career offerings, including links, articles,
profiles, newsletters, and message boards on diversity topics, while
offering employers a broader pool of qualified diverse job seekers.
In 2003, we launched the Hourly and Skilled community on Monster to match
employers with non-exempt or hourly workers, a market segment that we
believe accounts for approximately 67 million people, or 50% of U.S.
workers. These workers are now online and our Hourly and Skilled community
offers them a fast and convenient way to search and apply for a wide range
of jobs with employers. Utilizing Monster's powerful search engine
technology, job seekers conduct targeted searches for the positions that
best match their interests and skills. With customizable Hourly and Skilled
applications, employers can quickly find and hire the most qualified workers
for their available opportunities, through our online application process.
In the government sector, Monster Government Solutions ("MGS") focuses on
the development and marketing of customized recruitment portals and other
online and off-line recruiting tools for federal, state and local
governments. In September 2003, MGS overhauled the United States Federal
government's official careers website, www.USAJOBS.opm.gov, operated by the
U.S. Office of Personnel Management, the human resources agency for the
executive branch of the U.S. Federal government. At www.usajobs.opm.gov,
which is powered by Monster, job seekers interested in Federal employment
can quickly and conveniently search and apply for open positions with the
government departments. In the first three months of its launch, USAJOBS
attracted more than 15 million visitors (compared to six million in the
entire previous year), achieved the highest customer satisfaction rating in
its history, and rates as one of the top five government websites in
customer satisfaction. With the acquisition of QuickHire, Monster Government
Solutions extends its leadership in delivering integrated recruitment
solutions to the Federal HR community. QuickHire's technology is used by
more than 90 Federal agencies to automate the review and ranking of every
resume submitted in response to an advertisement. With up to 53% of the
Federal workforce eligible to retire in the next five years, we believe our
strong relationships with government agencies will help us expand our
business.
In addition to the services described above, Monster manages Internet
properties such as Fastweb.com and MonsterTRAK.com that allow students at
the secondary school and college level to begin managing their future career
by searching for information about universities, scholarships, internships
and eventually their entrance into the workplace.
Advertising & Communications
Our TMP Worldwide Advertising & Communications business specializes in
designing global, national and local recruitment advertising campaigns for
clients in high growth industries and government agencies. We entered the
recruitment advertising business in 1993 and have expanded this business
worldwide through organic growth and acquisitions. We seek to help our
clients position themselves as the employer of choice, and to attract and
retain the most qualified candidates. In addition to traditional media, such
as print advertising, we continue to expand the reach of our services
through the utilization of online recruitment advertising, development of
employer branding programs, image campaigns, creation of direct marketing
materials, retention programs and other employee communications, job fairs,
employee referral programs and campus recruiting. Our objectives are to
remain client focused and attract new business while continuing to
rationalize our expenses. Our ideas and recruiting strategies include the
following:
Recruitment Advertising. We design, manage and deliver employment
advertising by focusing on strategic planning and research, providing
consultative employment advertising solutions and developing employer
branding messages. By providing a complete range of online services,
complementing our innovative recruitment solutions, we create print,
interactive, broadcast, collateral materials and implement proactive
programs such as job fairs, employee referral programs and campus
recruiting.
Interactive Communications. We create and implement comprehensive online
solutions that drive our clients' recruitment advertising and communications
programs. To meet our clients' recruitment needs, we offer complete
interactive solutions that change the way companies interact and communicate
with their employees, organizations and brands.
Employer Branding. We define, develop, protect and measure the employment
brand by implementing communication initiatives to shift employee attitudes,
creating platforms for recruitment, retention, employment marketing and
public relations and closely monitor the key performance indicators to
ensure the delivery of the branding process.
Employee Communications. We develop communications strategies and deliver
programs that allow employees to actively participate in a client's
corporate vision. Through strategic research, planning and implementation
tools which foster effective communication, we focus on ensuring that
corporate objectives are communicated with consistency and accuracy and that
our clients can maintain a dynamic corporate culture.
Directional Marketing
TMP Worldwide Directional Marketing is the world's largest Yellow Pages
advertising agency based on annual gross billings. We help our clients
build, enhance, and protect their brand images using over 9,000 Yellow Pages
directories. Our Directional Marketing business focuses on national accounts
for clients who use yellow pages advertising programs to sell products or
services in multiple markets. We entered the Yellow Pages advertising
business in 1967 and have been able to use our more than 35 years of
understanding consumers' use of Yellow Pages directories to introduce our
clients to other marketing media that facilitate a connection between
consumers and our clients, such as Monstermoving (www.monstermoving.com),
which is also operated by our Directional Marketing division. Monstermoving
is one of the world's largest online marketplaces for relocation information
and moving-related services. We believe that people can manage their move by
leveraging the power of the Internet to provide the relocation resources
needed to successfully manage all stages of the relocation process.
In addition to traditional advertising, we offer to our clients a variety of
services ranging from online advertising to the staffing and operation of
fulfillment centers, which respond to toll-free calls requesting product
brochures and other information. While beyond the typical scope of services
provided by an advertising agency, these ancillary services are designed to
further integrate us into client processes for the mutual benefit of both
parties.
Clients
We have over 495,000 clients. Our clients include, on a non-exclusive basis,
approximately 90 of the Fortune 100 companies and approximately 490 of the
Fortune 500 companies. Our clients also include small and medium-sized
organizations, enterprises, government agencies and educational
institutions. No one client accounts for more than 5% of our total annual
revenue. Our Fortune 100 and Fortune 500 clients accounted for 21% and 39%,
respectively, of our revenue for the year ended December 31, 2003.
Competition
The markets for our services and products are highly competitive and are
characterized by pressure to reduce prices, incorporate new capabilities and
technologies, and accelerate job completion schedules. We face competition
from a number of sources. These sources include media companies (primarily
newspaper publishers), other job-related websites, Internet portals,
national and regional advertising agencies and marketing communication
firms. Many advertising agencies, media companies and newspaper publishers
have internally developed or acquired new media capabilities such as online
recruitment websites. New boutique businesses that provide integrated or
specialized services (such as advertising services or website design) and
are technologically proficient, especially in the new media arena, are also
competing with us. Many of our competitors or potential competitors have
long operating histories, and some have greater financial, management,
technological, development, sales, marketing and other resources than we do.
In addition, our ability to maintain our existing clients and generate new
clients depends to a significant degree on the quality of our services,
pricing and our reputation among our clients and potential clients.
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