LinkedIn has recently acquired another start-up in order to build up their big data recruitment business. LinkedIn acquired Careerify, the Toronto start-up, as they focus upon software for businesses to hire different talent. Of the three products that Careerify has, two are being closed; one is an employer branding software product that is designed to help firms appear more attractive to prospective candidates, and the “internal mobility software” or Careerify’s internal hiring software.
The third product is Careerify’s employee referral software. It is this that will remain open to already existing customers. It has been mentioned that LinkedIn will not be taking on any new users for the service. There has been no further information given as to whether or not LinkedIn will revive the first two products or even how the company plans to the remaining live product.
The referral software developed by Careerify will fit into LinkedIn’s overall business strategy. The service which is provided from LinkedIn is useful for the professional client. Their system crunches the data gathered from profiles and comes up with potential jobs and other professional connections.
In Careerify’s case LinkedIn uses an employee’s social connections; via LinkedIn, Twitter and Facebook, in order to ascertain just which person that is in an individual’s network may be a suitable candidate for a job opening in that employee’s place of work.
The software from Careerify essentially automates the process of finding a suitable candidate for a job opening that has come up at your business. Usually you may receive an email from your HR asking if you can think of anyone to refer as a potential candidate. It is not unlike how LinkedIn automates the reading and connection suggestions that you receive at the moment.
Although Careerify may be solving one problem, it looks like they had another problem to replace it, that being how to best position the firm for future growth. Considering they are in a mass of social media firms and recruitment specialists that is growing by the day. Enter LinkedIn to save the day. The CEO and founder of Careerify, Harpaul Sambhi, wrote in a blog post regarding the deal:
“We decided to join LinkedIn due to what we lacked – massive scale,” he said. “More than 30,000 companies across the globe leverage LinkedIn for recruitment, and with more than 347 million members, LinkedIn offers an opportunity to make a much larger impact on job seeking and hiring.”
Some of the staff involved in the deal will become a part of LinkedIn’s Talent Solutions Team. They are currently working in LinkedIn’s Toronto office, but they will be relocating to Mountain View soon.
Any further terms relating to this deal have not being disclosed at this time.
[Image via careerify]