Monster NEWS came out on April 02, 2019, announcing that Truli Technologies (OTC: TRLI) had acquired Recruiter.com along with specialized recruiting assets of Genesys Talent LLC. followed by an 8K today, April 5th where investors finally got wind of what actually a took place — a reverse merger disguised as an acquisition.
Truli Tech, who specialize in recruitment software, stated in the press release that going forward, the Company intends to effect a name change from Truli Technologies, Inc. to Recruiter.com Group, Inc. This acquisition truly should be seen as Recruiter.com (whom we feel is the much larger company with a substantially more familiar name) really in our opinion REVERSED MERGED into TRLI as most large companies do… versus going the pricey drawn-out route of an IPO.
Recruiter.com, Inc., is an online global recruiting service that offers an industry-leading job market technology platform. With a highly engaged membership base, Recruiter.com works with hundreds of clients and employers and manages a social media following of more than 2.8 million people. Recruiter.com was voted Top Tech Company to Watch in 2014 by the Connecticut Technology Council, cited as one of the Top 35 Most Influential Career Sites in 2014 by Forbes and listed by Inc. as one of the 9 Best Websites for Finding Top Talent. The career, HR, and recruiting experts of Recruiter.com have been cited and featured in hundreds of sites and publications, including: Wall Street Journal, Entrepreneur, Forbes, Mashable, Business Insider, Inc., Fox Small Business, Time, The Next Web, Yahoo Small Business, US News, Business2Community, Bloomberg and SmartBrief.
This industry is HUGE and some big names have been bought out in recent years as the sector consolidates. In 2016 Monster.com was acquired for $429 million and in 2017 Careerbuilder.com sold a controlling interest for $500 million. Could Recruiter.com be a target of Indeed.com or LinkedIn.com? Only time will tell, as there numbers listed below would surely bolster their market share and are valued at way more than TRLI’s $6 million dollar market cap.
Their stats are amazing and we are still digging to find a valuation and revenues. The company boasts:
- 6 Million Jobs
- 3 Million Member Base of Professionals seeking jobs
- 35,000 Recruiters. (Largest on the planet)
- 13,000 Companies and Employers trust and use them
One can Visit their site at http://www.recruiter.com or follow Recruiter on Twitter @RecruiterDotCom.
The partnerships Recruiter.com has in place already and bring into the merger are highly respectable. Below you can read more about these partnerships with Universities.com, PathSource and BountyJobs.com. These partnerships
Shuffling Of Management
In connection with the merger and the asset purchase, Rick Roberts, who had previously served as President of Genesys, was appointed President of the Recruiting Solutions division of the Company, and Ashley Saddul, who had previously served as the Chief Technology Officer of Recruiter.com, was appointed the Chief Technology Officer of the Company.
Miles Jennings will continue as the Chief Executive Officer of the Company. Michael Woloshin, the founder and former CEO of Recruiter.com, will act as the Company’s independent business development consultant.
In addition, the Company increased the size of its Board of Directors and Evan Sohn, who had previously served as the special consultant to Truli in connection with the merger, was appointed to the Board of Directors as Executive Chairman. The Board of Directors has also appointed Tim O’Rourke, designated by Genesys in connection with the asset purchase, as a director of the Company.
Share Structure
According to OTCMarkets.com, TRLI is a “pink current” company and we are excited to see the revenue numbers in the next 10Q that include Recruiter.com’s numbers to “blow up” their year over year revs. The AS and OS were updated as of April 2019 (updated) and has approx. a $6M market cap. If that is what TRLI was valued at, what with be the new value now is the question after a much larger company merged in along with the Genesys assets. Not to mention according to the last filing (see pic above) Recruiter.com Inc held 95% of the common shares, while other insiders and board members hold around 3%… leaving a tiny float of less than 2% of the outstanding share total!
The deal should not affect the common share structure as seen in the 8K, preferred series stock was used to get the deal done. Also keep in mind that YES, the stock can be converted into common shares down the line, but these shares are not free trading and are restricted 6 months to a year most likely.
“As a result of the Merger, each share of common stock, par value $0.0001 per share, of Recruiter.com (the “Recruiter.com Shares”) issued and outstanding immediately prior to the effective time of the Merger (the “Effective Time”) (other than treasury shares of Recruiter.com or Recruiter.com Shares held directly or indirectly by Truli or the Merger Sub) was converted into validly issued, fully paid and nonassesable shares of newly designated Series E convertible preferred stock, par value $0.0001 per share, of Truli (“Truli Series E Preferred Stock”), with cash in lieu of fractional shares of Series E Preferred Stock otherwise issuable (such shares of Truli Series E Preferred Stock, the “Merger Consideration”). Truli issued to the stockholders of Recruiter.com a total of 775,000 shares of Series E Preferred Stock convertible into 775,000,000 shares of common stock, par value $0.0001 per share (the “Common Stock”), of Truli, pursuant to the Merger Agreement. Prior to the Effective Time, Recruiter.com distributed to its stockholders 125 million shares of Common Stock, par value $0.0001 per share (the “Common Stock”), of Truli, previously acquired by Recruiter.com pursuant to the License Agreement, dated October 30, 2017 (the “License Agreement”) by and among Truli, VocaWorks, Inc., a New Jersey corporation and a wholly-owned subsidiary of Truli (“VocaWorks”) and Recruiter.com.”
Look for Truli Technologies to officially change name to Recruiter.com
Per the 8k, release on April 5, 2019, (see pic above) Recruiter.com will remain as the surviving corporation. This leads us to believe, since the Recruiter.com is such a well known “dot com” and industry leader in the hiring/job marketplace, look for a name change in the near future. Depending on revenues, we may also see a QB uplisting or possibly a NASDAQ one down the line.
Recruiter.com’s Strategic Partnership with BountyJobs.com
On February 22, 2017, BountyJobs, Inc., provider of the leading recruiting technology platform for collaboration between employers and search firms with over $1.25 Billion in placement fees to recruiters, today announced a strategic five-year partnership with online recruiting service Recruiter.com, Inc.
The partnership will support placement activity for leading employers by integrating with the Recruiter.com community and platform. The positions are projected to carry placement fees of approximately $200 – $300 Million per year.
“Our customers use BountyJobs to facilitate better management of recruitment agencies and to deliver improved placement efficiency and transparency,” said Jerry Aubin, CEO of BountyJobs. “By partnering with Recruiter.com, we help ensure that we bring the highest level of performance across a very broad range of jobs, industries, and locations. Our collaboration with Recruiter.com will also help accelerate our recently announced international expansion, both in terms of new client acquisition and candidate delivery for our valued clients.”
Recruiter.com will engage in the marketplace in the same way existing BountyJobs agency users do and will be subject to all of the same rules and guidelines. Their network-driven approach to service and its tens of thousands of agency recruiter users positions them for success with BountyJobs clients allowing them to provide a high volume of quality candidate submittals.
About the partnership, Miles Jennings, CEO of Recruiter.com said, “We are thrilled to announce the partnership with BountyJobs, the dominant force in the RPO/VMS space. Our partnership will bring access to high quality jobs from BountyJobs to our platform, drive increased performance for their clients, and help our users drive placement activity and generate meaningful revenue. We also look forward to helping to promote greater awareness of BountyJobs to our millions of management and executive level social media followers and users.”
Michael Woloshin, Co-Founder and Chief Strategy Officer of Recruiter.com said, “With successful client relationships with more than a third of the Fortune 500, BountyJobs is clearly respected as a world leader in the recruiting space. We are dedicated to creating a partnership that will unlock significant value for both companies, and our respective clients and users.”
The new relationship, which further centralizes and automates the fragmented landscape of fee-based recruiting, creates a highly compelling value proposition for growing employers that wish to consolidate their talent acquisition efforts.
Recruiter.com partners with PathSource, the premiere creator of career navigation mobile apps.
On March 17, 2017 PathSource, the leading provider of career exploration and resume creation mobile applications, announced a partnership with Recruiter.com. The PathSource App, which was featured by Apple as a “Best New App,” is a top downloaded mobile app for career management and resume creation, and is available on both iOS and Android platforms. The PathSource Resume app is the #2 ranked resume app on the Apple App Store.
Aaron Michel, CEO of PathSource, said “At PathSource, we help people identify and explore careers through a powerful app that’s a snap to use. We also enable our users to create eye-catching resumes. With this partnership, our users will now have the ability to create a beautiful resume in minutes and then send the resume to thousands of recruiters through our custom integration with Recruiter.com.”
Miles Jennings, CEO of Recruiter.com, said “Our resume distribution service allows job seekers to easily send their resumes to the largest network of top professional recruiters. We are proud to partner with PathSource to bring our resume distribution service to their users with an in-app experience. We expect PathSource, as one of the most popular mobile apps in the career space, to be an important long term partner for our company.”
About PathSource
As the creator of the #1 ranked career app and #3 ranked college app in the US, PathSource is America’s premier CareerTech company. Its suite of tools empower users to determine what career they’re interested in and then shows them how to achieve their goals. Users of PathSource’s free apps are given access to thousands of short informational interviews on video, career and lifestyle assessments, comprehensive school search and an ecosystem of visualized job data. Once they find the right career path, PathSource users can build an eyecatching resume and get connected with their dream job, all at no cost. PathSource has been cited and featured in SV Magazine, Inc Magazine, Huffington Post, Xconomy, Entrepreneur, USA Today and a range of other outlets. Visit http://www.pathsource.com or follow PathSource on Twitter @PathSource
Universities.com Partners With Recruiter.com to Bring Professional Development Options to Adult Learners
In September of 2018, Universities.com, a leading source for information on higher education and degree programs, has joined with industry-leading recruitment marketplace Recruiter.com to introduce more adult learners to professional development options available through higher education. Driven by its mission to help people find the perfect school, Universities.com provides rankings, tuition costs, and in-depth information on more than 8,000 colleges and universities, with a particular focus on assisting adult learners in the search for affordable, flexible programs that fit into their busy lifestyles.
As an established recruitment marketplace and industry publication, Recruiter.com attracts an audience of more than 10 million professionals across its various social media platforms, many of whom turn to Recruiter.com for valuable career advice.
Under the partnership, Recruiter.com will promote Universities.com’s resources to professionals and adults learners who want to improve their careers through schooling.
About Truli Technologies:
Truli Technologies, Inc. focuses on the development and acquisition of technology that solves industry challenges through connection, automation, and engagement. The Company’s wholly-owned subsidiary, VocaWorks, is an on-demand, cloud-based, online and mobile hiring platform being built to connect technology professionals with emerging growth companies looking for talent. VocaWorks is disrupting the traditional staffing industry through a platform that matches opportunistic employees with the world’s most innovative technology companies. With one-tap notifications, user profiles, and full project tracking, VocaWorks brings a new level of engagement and simplicity to the recruitment and onboarding of talented consultants for project-based hiring needs. For more information, please visit www.trulitechnologies.com or www.vocaworks.com.
Investment Summary
Truli Media Group is a NASDAQ quality company dressed up as a reverse merger. The immediate reaction of investors has been disbelieve based on the lack of volume since the announcement. Therein lies the opportunity, because a little due diligence reveals that a major asset is behind this deal. Although valuations are not discussed in the 8-K they can be inferred from the market. In 2016 Monster.com was acquired by Randstad for $429 million. Apollo Global Management bought controlling interest in Careerbuilder.com for an estimated $500 million in 2017. The one thing most investors will agree on is that Recruiter.com the name alone is worth more than $5.0 million which is the current market capitalization of the company. The stock is thinly traded and could move very quickly. The pink current status gives investors the transparency to assume full dilution on the deal of 250 million shares which would place the current market cap of the deal at $12.5 million. The piece of this stock puzzle are almost connecting like a perfect store. There is a very favorable stock structure and the stock is thinly traded. The acquiring company Recruiter.com has great name recognition. The stock appears to be massively undervalued and is well positioned for a NASDAQ listing. Investors could expect future price improvement when the expected follow on press releases that talk about a forthcoming NASDAQ listing. Based on this the 6 month target price is $4.00 or more.
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