Monster Worldwide (MWW) recently launched BeKnown, a professional networking application which is designed to allow Facebook users to establish a professional network on one of the world’s most popular social platform.
This new technology, available in 19 different languages, will allow users to identify and connect with friends and professional contacts from multiple sources and grow their professional network. This, in turn, will strengthen their online professional identity and help them discover more career opportunities.
Monster is taking steps to diversify its customer base. It has traditionally targeted the enterprise market, or those businesses that are among the largest 1,500 organizations operating on a global basis. However, the company is now concentrating on expanding into the small-to-medium sized businesses (SMBs) with approximately 10 to 2,000 employees and operating primarily in local and regional markets.
The company is currently creating alliances with media and publishing companies that extend its presence with local and regional job seekers in various markets across the United States and outside.
Given the ubiquitous use of Facebook, BeKnown will simultaneously give people and companies the ability to utilize that vast network for professional gain by tapping into the power of Monster and Facebook.
BeKnown will also have a Monster-developed Social Referral Program attached to it which will encourage BeKnown users to pass along specific jobs through their BeKnown network.
The Social Referral Program, which will be rolled out to select Monster customers, strengthens a company’s employee referral network along with extending reach to passive candidates.
We are encouraged by management’s recent efforts to revamp business by constantly introducing innovative products along with cost-reductions. We continue to maintain a Neutral recommendation. Our recommendation is supported by Zacks #3 Rank, which translates into a short-term rating of Hold.
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