Facebook Takes a Shot at LinkedIn

It's aiming to wrest some lucrative job search business

LinkedIn (NYSE:LNKD) has revolutionized the recruiting market with its focus on social networking. That stragegy has succeeded in giving the company a market cap of $10.9 billion.

But Facebook (NASDAQ:FB) wants to get a piece of that action. To this end, the consumer-oriented social network company on Wednesday launched the Social Jobs Partnership app. It’s a fairly simple system that allows for job searching on industries, locations and keywords. Facebook has also partnered with companies like Monster Worldwide (NYSE:MWW), Jobvite and BranchOut.

The new app has gotten off to a nice start. Since Wednesday, it has attracted about 1.7 million job listings. However, there’s already criticism about bugs and bad search results. But such things will likely get worked out.

Consider that according to the National Association of Colleges & Employers (NACE), about half of employers use Facebook for hiring decisions. So, having an app is definitely a smart move — and more important, it could ultimately become another nice revenue stream for Facebook.

Tom Taulli runs the InvestorPlace blog IPOPlaybook, a site dedicated to the hottest news and rumors about initial public offerings. He is also the author of “How to Create the Next Facebook.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/ipm_ipo_pb/facebook-takes-a-shot-at-linkedin/.

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