The New York Times bought a minority interest in the online job search engine Indeed.com for $5 million, reports Media Post Publication . Indeed.com is a meta-search engine which crawls more than 1000 other sources for jobs. Martin Nisenholtz, senior vice president of digital operations at the NYT said on New York Business: "The Times Co. has strong help-wanted franchises in print and online, and we believe it is important to invest in new technologies and services in this advertising category." It is also an attempt to regain money lost in the print classifieds space. "Obviously, jobs-wanted advertising is an important category of advertising for us, and we believe that the area of vertical search offers great promise," Nisenholtz said on Media Post Publications.
The deal seems to be part of a strategy to broaden the online advertising base. The paper already bought the community website About.com in February (see previous posting) and started paying Topix.net to prioritize its news in February (see former posting).
Source: New York Business, Media Post Publications (registration required)
