ZipRecruiter Set to Join Russell 3000® Index

Rhea-AI Summary

ZipRecruiter (NYSE:ZIP) announced its inclusion in the Russell 3000 Index, effective June 27, 2022, marking a significant milestone for the company. This membership is crucial as it enhances investor awareness and positions ZipRecruiter among the largest U.S. stocks, with over $12 trillion in assets benchmarked against Russell indexes. CEO Ian Siegel stated that this addition aligns with ZipRecruiter's mission to connect job seekers with opportunities. The Russell 3000 Index is influential for investment managers and institutional investors.

Positive

• Inclusion in the Russell 3000 Index enhances visibility and investor awareness of ZipRecruiter.
• Membership in the Russell 3000 Index provides automatic inclusion in the large-cap Russell 1000 Index.

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• None.

SANTA MONICA, Calif.--(BUSINESS WIRE)-- ZipRecruiter® (NYSE:ZIP), a leading online employment marketplace, today announced that the company is set to join the Russell 3000^® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the U.S. market opens on June 27, 2022 according to a preliminary list of additions.

Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000^® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

“The addition of ZipRecruiter into the Russell 3000® Index marks a significant milestone in our journey as a public company,” said Ian Siegel, ZipRecruiter CEO and co-founder. “We believe this will increase investor awareness of ZipRecruiter’s mission to actively connect people to their next great opportunity.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000^® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

ABOUT ZIPRECRUITER

ZipRecruiter® (www.ziprecruiter.com) is a leading online employment marketplace that actively connects people to their next great opportunity. ZipRecruiter’s powerful matching technology improves the job search experience for job seekers and helps businesses of all sizes find and hire the right candidates quickly. ZipRecruiter has been the #1 rated job search app on iOS & Android for the past five years¹ and is rated the #1 employment job site by G2.²

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements,” including ZipRecruiter’s expected addition to the Russell 3000^→ Index and ZipRecruiter’s beliefs regarding investor awareness. Statements containing words such as “could,” “believe,” “expect,” “intend,” “will,” or similar expressions constitute forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, the market price of ZipRecruiter’s common stock prevailing from time to time, the amount of ZipRecruiter's cash commitments, the nature of other acquisition or investment opportunities presented to ZipRecruiter from time to time, ZipRecruiter’s cash flows from operations, the impact of general economic, industry or political conditions in the United States or internationally, including the impacts of the COVID-19 pandemic, and other factors identified in ZipRecruiter’s Quarterly Report on Form 10-Q for the three months ended March 31, 2022, which was filed with the Securities and Exchange Commission on May 13, 2022. The foregoing list of risks and uncertainties is illustrative, but is not exhaustive. Additional information will also be set forth in ZipRecruiter’s future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that it makes with the Securities and Exchange Commission. These forward-looking statements are subject to material risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Except as may be required by law, ZipRecruiter undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this release.

¹ Based on job seeker app ratings, during the period of January 2017 to January 2022 from AppFollow for ZipRecruiter, CareerBuilder, Glassdoor, Indeed, LinkedIn, and Monster.
² Based on G2 satisfaction ratings as of January 1, 2022.

About FTSE Russell:

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220620005564/en/

Investors:

Alex Wellins

The Blueshirt Group, for ZipRecruiter

ir@ziprecruiter.com

Corporate Communications:

Julia Pollak

Chief Economist, ZipRecruiter

press@ziprecruiter.com

Source: ZipRecruiter, Inc.

FAQ

What is the significance of ZipRecruiter joining the Russell 3000 Index?

Joining the Russell 3000 Index enhances ZipRecruiter's visibility in the market and attracts institutional investors.

When does ZipRecruiter officially join the Russell 3000 Index?

ZipRecruiter will officially join the Russell 3000 Index on June 27, 2022.

What is the Russell 3000 Index?

The Russell 3000 Index includes the 3,000 largest U.S. stocks, ranked by total market capitalization.

How does ZipRecruiter's inclusion in the Russell 3000 affect its stock?

Inclusion in the Russell 3000 may lead to increased demand for ZipRecruiter's stock from institutional investors.

What is the market impact of Russell index membership?

Approximately $12 trillion in assets are benchmarked against Russell indexes, impacting stock liquidity and recognition.