Florida Merchant Capital Investors, a Tampa, Fla.-based private equity firm, has acquired WorkTree.com, operator of an employment website. No financial terms were disclosed.
PRESS RELEASE
Florida Merchant Capital Investors (FMCI), a Tampa, Florida-based private equity investment firm, announced today that it has purchased employment website WorkTree.com for an undisclosed sum.
WorkTree.com is a paid membership employment search engine created in 1999 by Selin and Sanjan Varughese. The new management team is planning to change several aspects of the site’s design and functionality.
“We realized from day one that there were some obvious things we could do right away to make the user’s experience more valuable,” Board of Managers President Allan Martin said. “Considering today’s job market, we want to ensure that WorkTree members can find the largest selection of available jobs with minimal effort. It is important to us that WorkTree be user-friendly while offering a robust set of job search tools.”
WorkTree.com, known as the largest job search portal in the world, differs from popular free job search sites because it searches multiple databases, not just paid advertisers. WorkTree’s power search technology brings together millions of jobs from all over the internet by crawling thousands of sites daily looking for fresh postings.
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