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Dice Rolls a Winner on Wall Street

July 18, 2007
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Related Topics: Internet, Candidate Sourcing, Latest News
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Dice Holdings Inc. raised $217.1 million though its initial public offering on Tuesday, July 17, making the company a force to be reckoned with in the highly competitive job board industry.

“It is a high-profile move that definitely puts them on the map,” says Peter Weddle, CEO of Weddle’s, a research and consulting firm in Stamford, Connecticut. Everybody is talking about them.”

Market momentum seems to have worked in favor of the Urbandale, Iowa-based company. Dice put up 16.7 million shares on the New York Stock Exchange at an opening price of $13. During trading Wednesday, July 18, Dice shares were up as much as 15.2 percent, just shy of $15, before ending the day at $13.40.

The market’s positive reaction to the IPO represents a major success for the company, which has made a dramatic turnaround since declaring bankruptcy in 2003. Today, Dice owns a variety of popular niche job sites, including JobsintheMoney.com, Clearancejobs.com and eFinancialCareers.com.

The company, which initially filed for an IPO with the U.S. Securities and Exchange Commission in April, has said it will use the capital infusion for several objectives, including the repayment of $32 million in dept and to finance growth.

Job board experts say the capital will go a long way in establishing Dice as a leading player in the industry.

“It puts them in the same league as biggies like Monster and CareerBuilder,” says Ted Daywalt, CEO of VetJobs.com. “It will be interesting to see what they are going to do with all of that money.”

Gina Ruiz

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