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EXHIBIT 99.9
FOR IMMEDIATE RELEASE
Media Contact:
Mark Pettit
Creaxion
[email protected]
404.495.4425
Pager: 888.933.3731
HEADHUNTER.NET COMPLETES MERGER WITH CAREERMOSAIC
Pioneer Online Jobsite Claims #2 Industry Position, Aims for #1
ATLANTA (JULY 19TH, 2000)---By an overwhelming majority, the
shareholders of HEADHUNTER.NET (NASDAQ: HHNT) today approved the merger with
former online rival CAREERMOSAIC, a wholly owned subsidiary of Omnicom Group,
Inc. (NYSE: OMC), a world leader in corporate communications services.
The closing of the transaction comes just three months after it was announced
and one day after Headhunter.net reported record second quarter
results---indicating strong momentum in the marketplace. The new company's
combined sites will serve six million visitors per month and feature more than
250,000 job postings, making it the new #2 online job awareness and recruiting
destination on the Internet.
"And as of today, our goal is to become the #1 recruiting and job awareness
destination on the web," said BOB MONTGOMERY, HEADHUNTER.NET'S PRESIDENT AND
CEO. "We have the largest on-the-streets sales force in the country, more jobs
in more cities than any other online site and an unwavering commitment to
customer service. Our team is clearly focused on delivering unmatched results to
our corporate and consumer clients and our shareholders."
Montgomery went on to say that while a shakeout among Internet businesses has as
left a number of dot-com companies scrambling to justify their business models,
Headhunter.net's business continues to thrive, fueling the company's overall
growth and performance.
Yesterday, Headhunter.net reported record second quarter revenue of $9.8
million, a 516% increase over the second quarter of 1999. During the quarter,
the company also opened five new sales offices in Philadelphia, Austin,
Cincinnati, Tampa, and San Jose.
"Headhunter.net has achieved significant increases in revenue every quarter
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as a publicly-traded company," said MARK PARTIN, CHIEF FINANCIAL OFFICER OF
HEADHUNTER.NET. "The largely untapped online recruiting industry is projected to
grow to $1.7 billion by 2003. With historical growth in every segment of our
business and margins of over 98%, we believe we are on the path to
profitability."
Headhunter.net now serves more than 10,000 corporate clients across the country.
The merger with CareerMosaic opens doors to a host of additional Fortune 1000
clients and adds the nation's largest recruiting ad agency, Bernard Hodes Group,
Inc., to the company's growing roster of blue chip clients. . The new
Headhunter.net will be based in Atlanta and will maintain sales offices in
Northern California, New York, Los Angeles, Dallas, Boston, Philadelphia,
Washington, D.C., Austin, Cincinnati and Tampa. Just last week, the company
announced the expansion of its Chicago-based Strategic Business Development
unit, which is charged with cultivating strategic partnerships to extend
marketing reach and attract targeted job seekers and job postings.
"The completion of our merger is a great accomplishment," continued Montgomery,
"but is nothing compared to the task ahead. We must fully integrate our
assets--the best of which is our people---if we are to accomplish our goal of
becoming the leader in our industry."
ABOUT HEADHUNTER.NET
Headhunter.net (www.Headhunter.net) is a leading national online recruiting and
job awareness network, empowering candidates and corporations to manage the job
search process. With the merger of Headhunter.net and CareerMosaic, the combined
sites will feature more than 700,000 resumes and over 250,000 jobs representing
10,000 of the nations' top employers across virtually every industry. The new
Headhunter.net, which will serve more than 6 million visitors a month,
distinguishes itself by providing job seekers privacy when searching and
applying for jobs, and allows job seekers and job posters to manage and track
the visibility and performance of their listings.
FORWARD LOOKING STATEMENTS
Some of the preceding statements in this press release constitute
"forward-looking statements" within the meaning of the Securities Act of 1933,
as amended, and the Securities Exchange Act of 1934, as amended, and the Company
intends that such forward-looking statements be subject to the safe harbors
created thereby. Examples of words indicating forward-looking statements include
"believes," "expects" and "will." These forward-looking statements reflect the
Company's current views with respect to future events and financial performance,
but are subject to many uncertainties and factors relating to the Company's
operations and business environment which may cause the actual results of the
Company to be materially different from any future results
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expressed or implied by such forward-looking statements. Please see
Headhunter.net's Form 10-K, as amended, for a list of such uncertainties and
factors. The Company undertakes no obligation to update or revise any
forward-looking statement whether as a result of new information, future events,
or otherwise.
