Media

Indeed Investment Nets New York Times $100 Million Profit

Published on September 25, 2012
by Peter Kafka

Good week for the New York Times’ balance sheet, which just plumped up by $400 million.

Yesterday, the Times closed its deal to sell About.com to IAC for $300 million. Today, the paper announced that it would net $100 million on a seven-year-old investment in Indeed.com.

Indeed, a Connecticut-based job site, is selling to Japan’s Recruit.com; reports peg the price at around $1 billion. In 2005, the Times was part of Indeed’s $5 million Series A round, along with Allen & Co. and Union Square Ventures; Indeed doesn’t appear to have raised any additional funds since then.

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URL: http://allthingsd.com/20120925/indeed-investment-nets-new-york-times-100-million-profit/