Seek Limited

Encyclopedia : S : SE : SEE : Seek Limited

Seek (ASX: [SEK]) is an internet job recruitment company listed on the ASX as of April 2005 and is the dominant player in online recruitment in the Australian market with 56% market share and over 130,000 jobs online.

History

Seek was one of the few profitable dot coms formed in Australia in the 1990's and survived the dot com crash of the early noughties. Its success in this difficult period is due to a bouyant employment market, strong market position, strategic alliances with dominant media companies (Yahoo!, NineMSN, Optus) as well as key investors who helped it to grow, most notably PBL, who purchased a 25% stake. James Packer remains a director (the chairman).

Today

Seek enjoys a dominant market position attracting twice the internet traffic of its nearest rival and its stock has rallied of late on the ASX. It has publicly announced that while it remains aware of its competition, it does not feel they pose immediate threat to profit outlook and operation margins.

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