Recruiter.com Group, Inc. - RCRT STOCK NEWS

Recruiter.com Group, Inc. has signed an agreement to purchase the fintech assets of GoLogiq, Inc. Under the agreement, Recruiter.com will acquire GoLogiq's mobile commerce, e-wallet, mobile payment, and big data analytics platforms. The combined companies are valued at approximately $105 million. Recruiter.com plans to increase its market capitalization through revenue generation and planned acquisitions. GoLogiq will receive common stock of Recruiter.com equal to approximately 84% of the company.

Recruiter.com Group has launched a beta version of Candidate Pitch, an innovative app powered by OpenAI’s ChatGPT, aimed at revolutionizing the job application process. This AI-driven platform converts resumes into compelling professional profiles, enhancing job seekers' visibility in a competitive market. The app enables users to upload resumes and generates tailored summaries that highlight unique skills and experiences. Recruiters benefit by saving time on candidate evaluations, producing succinct summaries quickly. Subscription plans for users start at $29.99/month. CEO Evan Sohn emphasizes the mission to streamline talent acquisition processes using AI technology. As AI tools gain traction in recruitment, Recruiter.com positions itself to leverage these advancements for better hiring outcomes.

Recruiter.com has launched the Recruiter Marketplace, an innovative platform designed to enhance the talent acquisition landscape. This platform connects employers with vetted freelance recruiters, enabling flexible hiring for businesses of all sizes. The gig economy is projected at $455 billion, with 46% of independent professionals seeking online platforms for work in the next year. CEO Evan Sohn noted that the marketplace allows for a self-service option, catering to both SMBs and enterprises. The platform's customized solutions and access to a global talent network aim to improve the recruitment process while reducing costs and overhead.

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) reported a 14% increase in revenue for 2022, totaling $25.4 million, up from $22.2 million in 2021. Gross profit also grew by 19%, reaching $8.7 million. Despite these gains, the company faced a net loss of $16.5 million, slightly higher than the previous year's $16.3 million loss. Operating expenses rose 5% to $25.5 million. The CEO highlighted the focus on integrating acquisitions and enhancing technology-driven services. Notable developments include partnerships with Job Mobz and hireEZ, as well as a ChatGPT training course aimed at improving recruitment processes.

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) has announced a strategic partnership with Job Mobz, a leader in recruitment process outsourcing (RPO). This collaboration aims to enhance enterprise OnDemand solutions, leveraging Job Mobz's RPO expertise and Recruiter.com's extensive network of recruiters. Recruiter.com will transition certain clients to Job Mobz, generating a fixed revenue stream based on sales. The partnership is expected to drive operational efficiencies and reduce expenses while expanding gross margins. Josh McBride will become President of Job Mobz, bringing valuable experience from Recruiter.com. Both firms anticipate significant growth through this collaboration.

Recruiter.com Group (NASDAQ:RCRT, RCRTW) has launched a new course, 'Recruiting with ChatGPT', priced at $199, designed to empower talent acquisition professionals with advanced AI-driven recruitment techniques. This launch introduces Recruiting Classes by Recruiter.com, a training marketplace aiming to upskill recruiters. The comprehensive course covers essential aspects of utilizing ChatGPT in recruiting, such as candidate sourcing and recruitment marketing. CEO Evan Sohn emphasized the necessity for recruiters to continually enhance their skills in today's fast-evolving workforce. For further details, visit RecruitingClasses.com.