Monster.com, the leading career-related Web site, was formed in January 1999 by the merger of two online recruiting companies, The Monster Board and the Online Career Center. Both companies were owned by New York-based recruitment firm TMP Worldwide, a publicly-traded company with nearly $1.5 billion in annual revenue in 2001. Since 1999 Monster.com has spent hundreds of millions of dollars to build its brand. With funds provided by its parent company Monster.com also acquired other online job-search firms. For $100 million Monster.com entered into a four-year strategic relationship with America Online and gained its own keyword there. Monster.com was TMP Worldwide's best-performing subsidiary, and it claimed to be the only profitable business in its field.
Monster.com is considered an innovator in the field of online recruitment and employment. It was the first to develop a database of resumes with user names and passwords. It was also the first to develop a job-search agent, which has become a standard in the industry. It introduced a talent auction for free agents, allowing them to offer their services to the highest bidder. It was the first online employment service to develop a special area for executive-level positions.
By 2001 Monster.com was a market-share leader with more than 50 percent of the market in nearly every category. Its database of resumes surpassed 10 million in 2001, and the company expected to increase the database to 20 or 30 million resumes. More than 100,000 employers used Monster.com to post job openings and search for recruits, including more than 800 of the Fortune 1000. During the first half of 2001, Monster.com had about 6 million unique visitors going to its Web site about 25 million times a month, with the average user going to the site about once a week. The company boasted about 500 million page views per month, with the average user looking at 25 to 30 pages per month.
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