ZIPRECRUITER INC CLASS A

Recommendation Algorithms and Systems

• Value Maximization Phase: The company is currently in a phase focused on maximizing the value delivered to customers through various innovations and recommendation products, such as the new Resume Database and ZipIntro.

• Job Seeker Engagement: Significant investments have been made in enhancing the job seeker experience, leading to a substantial year-over-year traffic growth of 21% compared to competitors. Enhancements include improved algorithms for email notifications, resulting in a 100% increase in clicks and a 120% increase in applications.

User Experience Improvements

• Product Features: Key product enhancements include:

  • Resume Database: Improved search and filtering capabilities, added access to candidate contact information, and enhanced workflow management.
  • ZipIntro: A new feature that connects employers with job seekers quickly, facilitating faster hiring interactions.

• Customer Feedback: Over 90% of job seekers indicated they would likely use ZipIntro again, reflecting a positive user experience and engagement.

Overall Impact on Business

• Job Seeker Traffic: The growth in job seeker traffic has been described as a foundational element, as it directly influences the matching technology, new business acquisition, and overall customer satisfaction in the two-sided marketplace model.

• Market Share Insights: The company believes there is a strong correlation between job seeker market share and future revenue growth from employers. The current market shifts are closely monitored as the firm positions itself strategically for recovery in hiring activity.

Future Expectations

• The company expects that as it continues to innovate and enhance the user experience, the proportion of revenue generated from employers will grow alongside the increase in job seeker engagement. This optimistic outlook is supported by historical trends observed in the labor market.