‭Investor Day - Simplify Hiring‬‭Chris Hyams‬‭- Indeed Strategy and Vision‬‭March 27, 2024‬‭Slide 1-3-1‬‭Chris:‬‭Hello, I’m Chris Hyams, CEO of Indeed.‬‭I am very happy to be here today to talk about Indeed’s strategy and vision.‬I‭‬ ‭joined‬ ‭Indeed‬ ‭back‬ ‭in‬ ‭2010‬ ‭to‬ ‭lead‬ ‭our‬ ‭product‬ ‭team.Over‬ ‭the‬ ‭past‬ ‭13‬ ‭years,‬ ‭I’ve‬ ‭had‬ ‭the‬ ‭extraordinary‬‭privilege‬‭to‬‭witness‬‭our‬‭growth‬‭from‬‭130‬‭people‬‭to‬‭12,500.‬‭Looking‬‭back‬‭to‬‭2010,‬‭it‬‭was‬‭impossible‬‭to‬‭imagine‬‭the Indeed of 2024, and the scale of our impact on the world.‬‭But‬‭the‬‭heart‬‭of‬‭Indeed‬‭—‬‭our‬‭mission‬‭—‬‭is‬‭completely‬‭unchanged,‬‭and‬‭has‬‭been‬‭beating‬‭steadily‬‭since‬‭our‬f‭ounding 20 years ago.‬‭Slide 1-3-2‬‭Our‬ ‭mission‬ ‭is‬ ‭to‬ ‭help‬ ‭people‬ ‭get‬ ‭jobs.‬ ‭This‬ ‭is‬ ‭what‬ ‭gets‬‭us‬‭out‬‭of‬‭bed‬‭in‬‭the‬‭morning,‬‭and‬‭what‬‭keeps‬‭us‬‭ oing all day.‬g‭Slide 1-3-3‬‭ utside‬ ‭of‬ ‭family‬ ‭and‬ ‭health,‬ ‭a‬ ‭job‬ ‭is‬‭one‬‭of‬‭the‬‭most‬‭important‬‭things‬‭in‬‭a‬‭person’s‬‭life.‬‭This‬‭mission‬‭is‬‭so‬O‭much‬‭more‬‭than‬‭a‬‭slogan‬‭that‬‭looks‬‭good‬‭on‬‭a‬‭t-shirt.‬‭It’s‬‭our‬‭connection‬‭to‬‭the‬‭people‬‭whose‬‭lives‬‭we‬‭touch‬‭every day. Our mission is the lifeblood of Indeed.‬‭Slide 1-3-4‬‭As Deko said, our vision is to make getting a job as simple and fast as pushing a button.‬‭Slide 1-3-5‬‭The result is that today, Indeed is the world’s #1 job site. More people find jobs on Indeed than anywhere else.‬‭Hundreds‬‭of‬‭millions‬‭of‬‭job‬‭seekers‬‭visit‬‭Indeed‬‭every‬‭month‬‭from‬‭more‬‭than‬‭60‬‭countries‬‭around‬‭the‬‭world‬‭—‬t‭o search for jobs, post resumes, research companies, and more.‬‭Over 3.5 million employers use Indeed to find and hire new employees.‬‭Slide 1-3-6‬‭Our‬‭strategy‬‭is‬‭to‬‭transform‬‭from‬‭a‬‭search‬‭engine‬‭to‬‭a‬‭two-sided‬‭marketplace.‬‭I’ll‬‭spend‬‭most‬‭of‬‭my‬‭time‬‭with‬‭ ou today explaining what this means, and how that translates into our focus and investments.‬y‭But‬ ‭to‬ ‭understand‬ ‭where‬ ‭we‬ ‭are,‬ ‭and‬ ‭where‬ ‭we’re‬ ‭going,‬ ‭it’s‬ ‭helpful‬ ‭to‬ ‭first‬ ‭take‬ ‭a‬ ‭step‬‭back‬‭to‬‭where‬‭we‬‭ tarted.‬s‭Slide 1-3-7‬‭In‬ ‭2004,‬ ‭when‬ ‭Indeed‬ ‭was‬ ‭founded,‬ ‭the‬ ‭state‬ ‭of‬ ‭the‬ ‭art‬ ‭of‬ ‭online‬ ‭job‬ ‭search‬ ‭was‬ ‭sites‬ ‭like‬ ‭Monster‬ ‭and‬‭ areerBuilder. These job boards were essentially newspaper classified ads that were put online.‬
C‭This transcript is provided for the convenience of investors only.‬‭1‬‭ here‬‭were‬‭two‬‭huge‬‭problems‬‭with‬‭the‬‭classified‬‭ads‬‭model.‬‭For‬‭job‬‭seekers,‬‭they‬‭only‬‭saw‬‭jobs‬‭that‬‭were‬T‭advertised.‬‭That‬‭meant‬‭if‬‭they‬‭wanted‬‭to‬‭have‬‭a‬‭shot‬‭at‬‭finding‬‭all‬‭the‬‭relevant‬‭job‬‭openings,‬‭they‬‭had‬‭to‬‭visit‬‭dozens‬ ‭of‬ ‭websites.‬ ‭For‬ ‭employers,‬ ‭the‬‭classified‬‭model‬‭meant‬‭pay‬‭to‬‭post—they‬‭paid‬‭the‬‭same‬‭amount‬‭to‬‭post a job regardless of whether they got 200 candidates, or 2.‬‭Slide 1-3-8‬
I‭ndeed‬‭launched‬‭in‬‭2004,‬‭transforming‬‭the‬‭classified‬‭ads‬‭model‬‭into‬‭a‬‭search‬‭engine‬‭for‬‭jobs.‬‭We‬‭aggregated,‬‭or‬ ‭indexed,‬‭jobs‬‭from‬‭thousands‬‭of‬‭job‬‭boards,‬‭career‬‭sites,‬‭agencies...‬‭and‬‭yes,‬‭even‬‭newspaper‬‭sites.‬‭We‬‭brought‬‭them‬‭all‬‭together‬‭in‬‭one‬‭place‬‭to‬‭create‬‭a‬‭simple,‬‭fast,‬‭and‬‭relevant‬‭search‬‭experience‬‭for‬‭job‬‭seekers‬‭— one search, all jobs.‬‭Slide 1-3-9‬‭The answer to these key challenges of the classified ads model became our two founding principles.‬‭One, we put job seekers first.‬‭Two, our business model is pay for performance.‬‭These might seem obvious today, but in 2004 this was a revolutionary change.‬‭Today,‬ ‭these‬ ‭principles‬ ‭remain‬ ‭the‬ ‭north‬ ‭stars‬ ‭for‬ ‭every‬ ‭decision‬ ‭we‬ ‭make.‬ ‭They‬ ‭are‬ ‭the‬ ‭answer‬ ‭to‬ ‭the‬‭ uestion of why Indeed has been successful.‬q‭I’d like to take a few minutes to talk about what these principles mean, and why they’re so important.‬‭Slide 1-3-10‬‭First,‬ ‭the‬ ‭most‬‭important‬‭decision‬‭every‬‭marketplace‬‭business‬‭must‬‭make‬‭is‬‭who‬‭comes‬‭first—which‬‭side‬‭is‬‭ ost important?‬m‭ or‬ ‭most‬ ‭marketplaces,‬ ‭the‬ ‭decision‬ ‭is‬‭simple—whoever‬‭pays‬‭the‬‭bill‬‭comes‬‭first.‬‭For‬‭job‬‭sites,‬‭that‬‭means‬F‭employers.‬‭In‬‭2004—and‬‭even‬‭today—most‬‭job‬‭sites‬‭prioritize‬‭product‬‭features‬‭and‬‭marketplace‬‭policies‬‭that‬‭benefit the employer.‬‭Indeed made a deliberate, contrary decision, to put job seekers first. This is our first core principle.‬‭Slide 1-3-11‬‭Putting‬‭job‬‭seekers‬‭first‬‭means‬‭that‬‭with‬‭every‬‭decision‬‭we‬‭make,‬‭we‬‭ask‬‭this‬‭question:‬‭“What’s‬‭best‬‭for‬‭the‬j‭ob seeker?”‬‭When‬ ‭we‬ ‭started,‬ ‭rather‬ ‭than‬ ‭visiting‬ ‭dozens‬ ‭of‬ ‭sites,‬ ‭what’s‬ ‭best‬ ‭for‬ ‭the‬ ‭job‬ ‭seeker‬ ‭was‬ ‭to‬ ‭put‬ ‭all‬ ‭jobs‬t‭ogether in a single search engine. Our original tagline: one search, all jobs.‬‭On‬ ‭job‬‭boards,‬‭once‬‭a‬‭job‬‭seeker‬‭uploaded‬‭their‬‭resume,‬‭they‬‭had‬‭no‬‭control‬‭over‬‭who‬‭could‬‭contact‬‭them.‬‭ ears later they would continue to get unsolicited outreach for jobs—and even to buy insurance.‬
Y‭What’s‬‭best‬‭for‬‭the‬‭job‬‭seeker‬‭is‬‭to‬‭protect‬‭their‬‭privacy,‬‭and‬‭give‬‭them‬‭control‬‭over‬‭how‬‭and‬‭when‬‭they‬‭can‬‭be‬‭ ontacted. Job boards are paid for every post, and have little to no incentive to police fake job posts.‬c‭What’s‬‭best‬‭for‬‭the‬‭job‬‭seekers‬‭is‬‭a‬‭significant‬‭investment‬‭in‬‭trust‬‭&‬‭safety.‬‭That’s‬‭why‬‭we‬‭work‬‭hard‬‭to‬‭ensure‬j‭ob seekers find real jobs with accurate information, while safeguarding them from spam and fraud.‬‭We‬‭continue‬‭to‬‭ask‬‭this‬‭question‬‭every‬‭day,‬‭and‬‭every‬‭new‬‭product,‬‭feature,‬‭and‬‭policy‬‭is‬‭driven‬‭by‬‭putting‬‭job‬‭ eekers first.‬s‭This transcript is provided for the convenience of investors only.‬‭2‬‭Slide 1-3-12‬‭All of this leads to building trust with job seekers.‬‭In‬ ‭the‬ ‭end,‬ ‭if‬ ‭we‬ ‭put‬ ‭job‬ ‭seekers‬‭first,‬‭and‬‭make‬‭it‬‭simple‬‭and‬‭fast‬‭for‬‭them‬‭to‬‭get‬‭jobs,‬‭at‬‭the‬‭end‬‭of‬‭every‬‭ uccessful search is an employer that’s made a hire.‬s‭So what’s best for job seekers, is also best for employers.‬‭Slide 1-3-13‬‭Our second core value is pay for performance.‬‭For‬‭us,‬‭pay‬‭for‬‭performance‬‭means‬‭that‬‭we‬‭get‬‭paid‬‭when‬‭we‬‭deliver‬‭value.‬‭Critically,‬‭it‬‭also‬‭means‬‭that‬‭we‬‭ on’t get paid if we don’t deliver value.‬d‭Slide 1-3-14‬‭Our‬ ‭first‬ ‭and‬ ‭still‬ ‭primary‬ ‭product‬ ‭is‬ ‭sponsored‬ ‭jobs.‬ ‭For‬ ‭sponsored‬ ‭jobs,‬ ‭we‬ ‭brought‬ ‭the‬ ‭auction‬ ‭based‬‭ ay-per-click model used for nearly all internet advertising, to online hiring.‬p‭People‬ ‭often‬ ‭ask‬ ‭why‬ ‭our‬ ‭business‬ ‭model‬ ‭is‬ ‭a‬ ‭core‬ ‭value,‬ ‭but‬ ‭it’s‬ ‭actually‬ ‭profoundly‬‭important.‬‭The‬‭most‬‭ owerful incentive for any business is how they make money. It drives more decisions than anything else.‬p‭Slide 1-3-15‬‭Pay‬ ‭for‬ ‭performance‬ ‭means‬ ‭that‬‭we‬‭are‬‭successful‬‭if‬‭and‬‭only‬‭if‬‭our‬‭customers‬‭are‬‭successful.‬‭This‬‭means‬‭ ur primary incentives are deeply aligned with our customers.‬o‭Slide 1-3-16‬‭Just‬ ‭as‬ ‭important,‬ ‭pay‬‭for‬‭performance‬‭means‬‭that‬‭we‬‭can‬‭stay‬‭true‬‭to‬‭our‬‭first‬‭value‬‭of‬‭putting‬‭job‬‭seekers‬f‭irst.‬‭We‬ ‭deliver‬ ‭value‬ ‭to‬ ‭our‬ ‭customers‬ ‭by‬ ‭connecting‬ ‭them‬ ‭with‬ ‭qualified‬ ‭and‬ ‭engaged‬ ‭job‬ ‭seekers.‬ ‭We‬‭make‬‭ oney when we help job seekers, so we are deeply aligned with job seekers.‬m‭Slide 1-3-17‬I‭n‬ ‭this‬ ‭first‬ ‭phase‬ ‭of‬ ‭Indeed’s‬ ‭business,‬ ‭our‬ ‭growth‬ ‭was‬ ‭driven‬ ‭by‬ ‭an‬ ‭SEO,‬ ‭or‬ ‭search‬ ‭engine‬‭optimization,‬‭flywheel.‬‭Because‬‭we‬‭aggregated‬‭jobs‬‭from‬‭every‬‭site,‬‭we‬‭had‬‭more‬‭jobs‬‭than‬‭anyone‬‭else.‬‭This‬‭led‬‭to‬‭SEO‬‭dominance—Indeed‬‭was‬‭at‬‭the‬‭top‬‭of‬‭nearly‬‭all‬‭search‬‭engine‬‭results‬‭for‬‭jobs,‬‭and‬‭in‬‭fact‬‭had‬‭multiple‬‭slots‬‭on‬‭most‬ ‭search‬‭pages.‬‭This‬‭led‬‭to‬‭rapid‬‭growth‬‭in‬‭job‬‭seeker‬‭visitors.‬‭More‬‭job‬‭seekers‬‭meant‬‭we‬‭could‬‭attract‬‭employers‬‭to‬‭sponsor‬‭their‬‭jobs‬‭on‬‭Indeed,‬‭which‬‭led‬‭to‬‭more‬‭revenue.‬‭And‬‭that‬‭allowed‬‭us‬‭to‬‭invest‬‭heavily‬‭in‬‭SEM,‬ ‭or‬ ‭search‬‭engine‬‭marketing,‬‭to‬‭bring‬‭even‬‭more‬‭job‬‭seekers‬‭to‬‭Indeed.‬‭Indeed‬‭traffic‬‭grew‬‭faster‬‭than‬‭any other site.‬‭Slide 1-3-18‬‭By‬‭the‬‭end‬‭of‬‭2010,‬‭just‬‭6‬‭years‬‭after‬‭launching,‬‭Indeed‬‭passed‬‭Monster‬‭to‬‭become‬‭the‬‭#1‬‭job‬‭site‬‭in‬‭the‬‭US.‬‭ oon after, we reached #1 globally.‬
S‭Slide 1-3-19‬‭This‬‭transformation‬‭from‬‭classified‬‭ads‬‭to‬‭search‬‭engine‬‭was‬‭Indeed’s‬‭core‬‭strategy‬‭during‬‭our‬‭first‬‭phase‬‭of‬‭ rowth. It was enormously successful in helping us to get to #1 in traffic.‬g‭This transcript is provided for the convenience of investors only.‬‭3‬‭But‬‭by‬‭2011,‬‭it‬‭became‬‭clear‬‭that‬‭we‬‭could‬‭only‬‭get‬‭so‬‭far‬‭as‬‭a‬‭search‬‭engine,‬‭and‬‭we‬‭embarked‬‭on‬‭the‬‭next‬‭ hase of our strategy - which is the transformation from a search engine into a two-sided marketplace.‬p‭Slide 1-3-20‬‭This‬ ‭is‬ ‭a‬ ‭simplified‬ ‭view‬ ‭of‬ ‭a‬ ‭job‬‭seeker‬‭journey:‬‭they‬‭search,‬‭find‬‭some‬‭interesting‬‭jobs‬‭and‬‭click‬‭on‬‭them.‬‭ hey apply to the most interesting ones, and hopefully then interview and eventually get hired.‬T‭Slide 1-3-21‬‭ hen‬‭Indeed‬‭launched‬‭as‬‭a‬‭search‬‭engine,‬‭we‬‭aggregated—or‬‭what‬‭we‬‭call‬‭“indexed”—jobs‬‭from‬‭thousands‬W‭of‬‭career‬‭sites,‬‭agencies,‬‭and‬‭job‬‭boards.‬‭Job‬‭seekers‬‭came‬‭to‬‭Indeed‬‭to‬‭search,‬‭and‬‭we‬‭connected‬‭them‬‭to‬‭those jobs.‬‭Slide 1-3-22‬I‭n‬‭this‬‭view‬‭of‬‭the‬‭journey,‬‭a‬‭job‬‭seeker‬‭searches‬‭and‬‭clicks‬‭on‬‭a‬‭job,‬‭then‬‭we‬‭send‬‭them‬‭to‬‭that‬‭career‬‭site,‬‭agency,‬‭or‬‭job‬‭board‬‭where‬‭the‬‭job‬‭is‬‭hosted‬‭because‬‭that’s‬‭an‬‭external‬‭site,‬‭we‬‭have‬‭no‬‭idea‬‭what‬‭happens‬‭after that click.We don’t know if they liked the job, if they applied, let alone if they got an interview or an offer.‬‭Slide 1-3-23‬‭The‬ ‭key‬ ‭problem‬ ‭is‬ ‭that‬ ‭a‬ ‭lot‬ ‭happens‬ ‭after‬ ‭the‬ ‭click—in‬ ‭fact‬ ‭the‬ ‭most‬ ‭important‬ ‭parts‬ ‭of‬ ‭getting‬ ‭a‬ ‭job.‬ ‭If‬‭ verything happens off our platform, we can’t help with these steps, we can’t make them simpler and faster.‬e‭Slide 1-3-24‬‭This is the difference between a search engine and a marketplace.‬‭So‬ ‭we‬ ‭set‬ ‭out‬ ‭to‬ ‭transform‬ ‭into‬ ‭a‬ ‭two-sided‬ ‭marketplace,‬ ‭by‬‭bringing‬‭the‬‭apply‬‭through‬‭hire‬‭steps‬‭onto‬‭the‬I‭ndeed platform.‬‭Slide 1-3-25‬‭The‬‭jobs‬‭we‬‭index‬‭come‬‭from‬‭these‬‭external‬‭sites.‬‭And‬‭the‬‭most‬‭common‬‭platform‬‭for‬‭a‬‭career‬‭site‬‭is‬‭an‬‭ATS,‬‭ r applicant tracking system.‬o‭Slide 1-3-26‬‭Mid-‬ ‭to‬ ‭large-size‬ ‭employers‬ ‭use‬ ‭an‬ ‭ATS‬ ‭to‬ ‭post‬ ‭their‬ ‭jobs,‬ ‭message‬ ‭and‬ ‭manage‬ ‭candidates,‬ ‭and‬ ‭track‬‭ tatus and outcomes.‬s‭Nearly all marketplace activity happens in the ATS.‬‭Slide 1-3-27‬‭So, we built a new product to enable employers to post their jobs directly on Indeed.‬‭We call these hosted jobs, because they are hosted on our platform.‬‭Slide 1-3-28‬‭Hosted‬ ‭jobs‬ ‭is‬ ‭essentially‬ ‭a‬ ‭simple‬ ‭Indeed‬ ‭ATS.‬ ‭Employers‬‭can‬‭post‬‭jobs,‬‭message‬‭&‬‭manage‬‭candidates,‬‭ nd track status—all on our platform.‬a‭This transcript is provided for the convenience of investors only.‬‭4‬‭Slide 1-3-29‬‭ he‬ ‭most‬ ‭important‬ ‭innovation‬ ‭for‬ ‭hosted‬ ‭jobs‬ ‭was‬ ‭the‬ ‭introduction‬ ‭of‬ ‭Indeed‬ ‭Apply.‬ ‭For‬ ‭indexed‬‭jobs,‬‭job‬T‭seekers‬‭click‬‭away‬‭to‬‭apply‬‭on‬‭a‬‭company‬‭site.‬‭But‬‭with‬‭hosted‬‭jobs,‬‭job‬‭seekers‬‭stay‬‭on‬‭Indeed‬‭when‬‭they‬‭apply.‬‭We control the entire application experience, so we can make it simple, fast, and consistent.‬‭Slide 1-3-30‬‭But the real key is that when a job seeker applies on Indeed, they need to upload a resume.‬I‭ndeed‬‭Apply‬‭became‬‭the‬‭conversion‬‭point‬‭for‬‭job‬‭seekers‬‭to‬‭create‬‭an‬‭Indeed‬‭account‬‭and‬‭upload‬‭a‬‭resume.‬‭We‬‭parse‬‭that‬‭resume‬‭and‬‭convert‬‭it‬‭into‬‭an‬‭Indeed‬‭resume,‬‭which‬‭the‬‭job‬‭seeker‬‭can‬‭then‬‭use‬‭to‬‭apply‬‭to‬‭the‬‭next job even simpler and faster.‬‭As‬‭we‬‭grew‬‭the‬‭accounts‬‭and‬‭resumes‬‭on‬‭Indeed,‬‭we‬‭then‬‭built‬‭a‬‭resume‬‭search‬‭engine‬‭to‬‭allow‬‭employers‬‭to‬f‭ind and connect with active and qualified job seekers who had not even seen their jobs.‬‭Slide 1-3-31‬‭Indeed‬ ‭Apply‬ ‭was‬ ‭the‬ ‭key‬ ‭enabler‬ ‭of‬ ‭our‬ ‭first‬ ‭steps‬ ‭in‬ ‭transformation‬ ‭from‬ ‭a‬ ‭search‬‭engine‬‭to‬‭a‬‭two-sided‬‭ arketplace.‬m‭Slide 1-3-32‬
I‭n‬‭this‬‭next‬‭phase‬‭of‬‭our‬‭business,‬‭our‬‭growth‬‭has‬‭been‬‭driven‬‭by‬‭a‬‭marketplace‬‭matching‬‭flywheel.‬‭The‬‭more‬‭marketplace‬ ‭jobs,‬‭the‬‭more‬‭deep‬‭data‬‭about‬‭jobs‬‭we‬‭get,‬‭which‬‭leads‬‭to‬‭more‬‭visits‬‭from‬‭job‬‭seekers.‬‭They‬‭create‬ ‭more‬ ‭accounts,‬ ‭which‬ ‭gives‬ ‭us‬‭more‬‭deep‬‭data‬‭about‬‭job‬‭seekers,‬‭which‬‭leads‬‭to‬‭more‬‭connections‬‭and‬‭hires.‬‭Marketplace‬‭activity‬‭on‬‭our‬‭platform‬‭gives‬‭us‬‭more‬‭downstream‬‭outcome‬‭data—interviews,‬‭offers,‬‭and hires. These results lead to more employers coming to the platform, which creates even more jobs.‬‭All‬ ‭of‬ ‭this‬ ‭feeds‬ ‭unique‬ ‭data‬ ‭into‬ ‭our‬ ‭AI‬ ‭matching,‬ ‭which‬ ‭makes‬ ‭the‬ ‭entire‬ ‭marketplace‬ ‭more‬ ‭and‬ ‭more‬‭ ffective.‬e‭This is a virtuous cycle, which means the better we get at matching, the better we keep getting.‬‭Slide 1-3-33‬‭ osted‬‭jobs‬‭on‬‭Indeed’s‬‭ATS‬‭are‬‭all‬‭marketplace‬‭jobs.‬‭But‬‭the‬‭indexed‬‭jobs‬‭—‬‭those‬‭on‬‭external‬‭ATSes‬‭—‬‭still‬H‭felt‬‭like‬‭a‬‭search‬‭engine‬‭to‬‭job‬‭seekers.‬‭So‬‭we‬‭developed‬‭the‬‭Indeed‬‭Apply‬‭Sync‬‭API,‬‭which‬‭brings‬‭the‬‭Indeed‬‭Apply experience to external ATSs.‬‭With Indeed Apply Sync, every job can be a marketplace job.‬‭We‬‭have‬‭integrated‬‭with‬‭more‬‭than‬‭300‬‭ATSs‬‭globally,‬‭which‬‭allows‬‭job‬‭seekers‬‭to‬‭apply‬‭to‬‭all‬‭of‬‭these‬‭jobs‬‭ ith the same simple and fast experience they have for hosted jobs.‬w‭Slide 1-3-34‬
I‭ndeed‬‭Apply‬‭Sync‬‭is‬‭part‬‭of‬‭a‬‭larger‬‭ATS‬‭Sync‬‭API.‬‭In‬‭addition‬‭to‬‭publishing‬‭jobs‬‭and‬‭enabling‬‭Indeed‬‭Apply,‬‭we‬‭can‬‭also‬‭sync‬‭candidates‬‭from‬‭other‬‭Indeed‬‭sourcing‬‭and‬‭hiring‬‭products,‬‭and‬‭sync‬‭dispositions,‬‭to‬‭bring‬‭outcome‬ ‭data‬ ‭from‬ ‭an‬ ‭external‬ ‭ATS‬ ‭into‬ ‭the‬ ‭Indeed‬ ‭platform,‬‭which‬‭powers‬‭further‬‭improvements‬‭in‬‭our‬‭AI‬‭matching.‬‭This transcript is provided for the convenience of investors only.‬‭5‬‭Slide 1-3-35‬‭ TS‬‭adoption‬‭of‬‭Indeed‬‭Apply‬‭has‬‭grown‬‭considerably‬‭over‬‭the‬‭past‬‭10‬‭years.‬‭But‬‭today,‬‭less‬‭than‬‭half‬‭of‬‭all‬A‭jobs‬ ‭are‬‭Indeed‬‭Apply-enabled,‬‭which‬‭means‬‭there‬‭is‬‭still‬‭tremendous‬‭opportunity‬‭for‬‭continued‬‭growth‬‭from‬‭further ATS integrations.‬‭Slide 1-3-36‬‭Indeed Apply is a key enabler of our marketplace.‬‭ nd‬‭the‬‭key‬‭to‬‭our‬‭marketplace‬‭strategy‬‭is‬‭that‬‭Indeed‬‭Apply‬‭helps‬‭grow‬‭hires‬‭and‬‭revenue.‬‭Indeed‬‭Apply‬‭is‬A‭better‬‭for‬‭employers—the‬‭simplicity‬‭and‬‭speed‬‭for‬‭job‬‭seekers‬‭means‬‭that‬‭on‬‭average,‬‭Indeed‬‭Apply‬‭jobs‬‭get‬‭5 times as many completed applications.‬‭This‬‭translates‬‭into‬‭the‬‭metric‬‭that‬‭matters‬‭most—Indeed‬‭Apply‬‭jobs‬‭are‬‭2.5‬‭times‬‭more‬‭likely‬‭to‬‭lead‬‭to‬‭a‬‭hire.‬I‭ndeed Apply is also good for Indeed—on average employers spend twice as much for each job.‬‭And as great as these improvements are today, we think we can do even better.‬‭Slide 1-3-37‬‭The result of this strategy is that today Indeed is the leading global two-sided talent marketplace.‬‭Hundreds‬‭of‬‭millions‬‭of‬‭job‬‭seekers‬‭visit‬‭Indeed‬‭and‬‭our‬‭sister‬‭site‬‭Glassdoor‬‭every‬‭month.‬‭They‬‭connect‬‭with‬‭ ore than 3.5M employers.‬m‭Across the world, 23 job seekers are hired per minute on Indeed—more than one every 3 seconds.‬‭Slide 1-3-38‬‭Our‬‭product‬‭suite‬‭today‬‭maps‬‭into‬‭the‬‭search‬‭and‬‭marketplace‬‭journey.‬‭We‬‭call‬‭these‬‭areas‬‭attract,‬‭connect,‬‭ nd hire.‬a‭Attract‬ ‭is‬ ‭the‬ ‭original‬ ‭search‬ ‭engine‬ ‭business.‬ ‭We‬ ‭deliver‬ ‭interested‬ ‭candidates‬ ‭through‬ ‭sponsored‬ ‭jobs‬‭ ithout Indeed Apply, and Employer branding on Indeed and Glassdoor.‬w‭For‬ ‭connect,‬ ‭part‬ ‭of‬‭the‬‭marketplace‬‭opportunity,‬‭we‬‭deliver‬‭quality,‬‭engaged‬‭candidates‬‭through‬‭sponsored‬j‭obs with Indeed Apply, and Smart Sourcing, our AI-powered resume search.‬‭ ire‬‭is‬‭a‬‭massive‬‭future‬‭opportunity‬‭within‬‭marketplace.‬‭Over‬‭the‬‭past‬‭several‬‭years,‬‭we‬‭have‬‭introduced‬‭new,‬H‭early‬ ‭stage‬ ‭experiments‬ ‭like‬ ‭Indeed‬ ‭Hire—a‬ ‭full‬ ‭service‬ ‭recruiting‬ ‭agency‬ ‭built‬ ‭on‬ ‭Indeed’s‬ ‭data‬ ‭and‬ ‭AI‬
‭matching technology, and Indeed Flex—an e-staffing marketplace for shift workers in the US and UK.‬
‭Slide 1-3-39‬‭Together, this makes up our overall strategic framework.‬‭We have two simple goals: grow hires and grow revenue.‬‭Our‬‭strategy‬‭is‬‭to‬‭continue‬‭our‬‭transformation‬‭from‬‭a‬‭search‬‭engine‬‭to‬‭a‬‭two-sided‬‭marketplace‬‭and‬‭we‬‭have‬t‭wo strategic priorities, which we’ll spend the next sections diving into.‬‭First,‬ ‭grow‬ ‭marketplace‬ ‭effectiveness‬ ‭through‬ ‭broad‬ ‭reach‬ ‭of‬ ‭jobs‬ ‭seekers‬ ‭and‬ ‭employers,‬ ‭AI‬ ‭powered‬‭ atching and faster connections.‬m‭And second, grow effective monetization of the marketplace.‬‭This transcript is provided for the convenience of investors only.‬‭6‬‭Slide 1-3-40‬‭I‬ ‭will‬ ‭now‬ ‭turn‬ ‭it‬ ‭over‬ ‭to‬ ‭Maggie‬‭and‬‭Raj,‬‭who‬‭will‬‭talk‬‭about‬‭our‬‭first‬‭strategic‬‭priority,‬‭growing‬‭marketplace‬‭ ffectiveness.‬e‭[END]‬‭Forward-Looking Statements‬‭ his‬‭document‬‭contains‬‭forward-looking‬‭statements,‬‭which‬‭reflect‬‭the‬‭Company's‬‭assumptions‬‭and‬‭outlook‬‭for‬T‭the‬ ‭future‬ ‭and‬ ‭estimates‬ ‭based‬ ‭on‬ ‭information‬ ‭available‬ ‭to‬ ‭the‬ ‭Company‬ ‭and‬ ‭the‬ ‭Company's‬ ‭plans‬ ‭and‬‭expectations‬ ‭as‬ ‭of‬ ‭the‬ ‭date‬ ‭of‬ ‭this‬ ‭document‬ ‭or‬ ‭other‬ ‭date‬ ‭indicated.‬ ‭There‬ ‭can‬ ‭be‬ ‭no‬ ‭assurance‬ ‭that‬‭the‬‭relevant forecasts and other forward-looking statements will be achieved.‬‭ lease‬ ‭note‬ ‭that‬ ‭significant‬ ‭differences‬ ‭between‬ ‭the‬ ‭forecasts‬ ‭and‬ ‭other‬ ‭forward-looking‬ ‭statements‬ ‭and‬P‭actual‬ ‭results‬ ‭may‬ ‭arise‬ ‭due‬ ‭to‬ ‭various‬ ‭factors,‬ ‭including‬ ‭changes‬ ‭in‬ ‭economic‬ ‭conditions,‬ ‭changes‬ ‭in‬‭individual‬ ‭users’‬ ‭preferences‬ ‭and‬ ‭business‬ ‭clients'‬ ‭needs,‬ ‭competition,‬ ‭changes‬ ‭in‬ ‭the‬ ‭legal‬‭and‬‭regulatory‬‭environment,‬ ‭fluctuations‬ ‭in‬ ‭foreign‬ ‭exchange‬ ‭rates,‬ ‭climate‬ ‭change‬ ‭or‬ ‭other‬ ‭changes‬ ‭in‬ ‭the‬ ‭natural‬‭environment,‬‭the‬‭impact‬‭of‬‭the‬‭spread‬‭of‬‭COVID-19,‬‭the‬‭occurrence‬‭of‬‭large-scale‬‭natural‬‭disasters,‬‭and‬‭other‬‭factors.‬‭ ccordingly,‬ ‭readers‬ ‭are‬ ‭cautioned‬ ‭against‬ ‭placing‬ ‭undue‬‭reliance‬‭on‬‭any‬‭such‬‭forward-looking‬‭statements.‬
A‭The‬‭Company‬‭has‬‭no‬‭obligation‬‭to‬‭update‬‭or‬‭revise‬‭any‬‭information‬‭contained‬‭in‬‭this‬‭document‬‭based‬‭on‬‭any‬‭subsequent developments except as required by applicable law or stock exchange rules and regulations.‬‭This transcript is provided for the convenience of investors only.‬‭7‬