The Long Game: Indeed
Editor’s note: Following up on the last post, this one seemed appropriate to post next…
Indeed was just purchased by Recruit Co. Ltd of Japan. Whether you like Indeed’s service or not, you have to admire how they went about building a great business over a long period of time. And they did it quietly, with little fanfare in Austin or in New York. And it wasn’t for lack of high profile investors.
Fred Wilson gives them high praise:
Indeed has always been the quiet one. Nobody really talks about them. But as I have said a number of times on this blog, they are the most complete company in our portfolio. They have it all. Two world class entrepreneurs as founders. A solid management team all up and down the company. A product that is beloved and services more than 80mm people worldwide every month. An engineering team that has kept the service up with literally no down time that I can ever remember. A business model that, like Google’s, is the best on the Internet. Revenues, profits, customer satisfaction, shareholder value. They built a fortress and I am just so happy to have had a front row seat watching them build it.
Who wouldn’t want that kind of endorsement? I have a few good friends working at Indeed or who have previously worked there. What a great testament to their efforts.
(A great post from Mark Suster, “Is Going for Rapid Growth Always Good?” seems relevant. Not that Indeed didn’t have rapid growth, but it wasn’t growth beyond their ability to finance that growth. And they seemingly weren’t worried about the press as much as the real business building.)