Morningstar | Seek Is Successfully Building a Global Employment Services Platform
Seek is the dominant website for job advertisements, and excess cash flow enables it to diversify and expand its revenue streams into investments in international job sites and an education division. Education is countercyclical; as job advertising slows, job hunters invest in themselves to become more marketable or develop new skills. We view the offshore expansion strategy favourably. Seek has bought minority stakes in dominant online sites within large populated and developing markets with low Internet penetration. These markets represent longer-term expansion opportunities. Some of these job sites, such as Zhaopin in China, could eclipse the earnings potential from the domestic Australian market. Its dominant domestic position means Seek benefits from a strong network effect, giving it a narrow economic moat.Seek is engaged in the online matching of hirers and candidates with career opportunities and related services; investing in early stage businesses and technologies which are in or adjacent to the main online employment marketplace; and distribution and provision of vocational training and higher education courses. Co.'s ANZ Employment, Zhaopin, SEEK Asia, Brasil Online and OCC segments provides online employment and marketplace services. Co.'s Education segment includes the marketing, sale and distribution of education courses. Co. also has an Early Stage Ventures segment consisting of a portfolio of Australian and international investments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.