Facebook Challenges LinkedIn With Online Job Search Tool

Facebook Inc. (FB), in a challenge to LinkedIn Corp. (LNKD), is rolling out an application that connects candidates with job openings and recruiters on the world’s largest social-networking service.

The new service features more than 1.7 million jobs from partners that include Monster Worldwide Inc. (MWW) and BranchOut Inc., the company said on its website today. The online app follows Facebook’s introduction of the Social Jobs Partnership last year with the U.S. Department of Labor and other agencies.

Facebook, which has grown to more than 1 billion users, is expanding into new services and markets as it seeks to attract more users and keep them longer on its site. That’s putting pressure on LinkedIn, a professional-networking site with 187 million users that has faced some growth concerns.

“Facebook is all about connecting people and we’re thrilled to see developers leveraging our platform to connect job seekers and prospective employers,” Marne Levine, Facebook’s vice president for global public policy, said in a statement.

“By allowing job seekers to view and share job openings based on personalized criteria, like location and industry, the Social Jobs Application builds on our broader effort to help people use social media to find jobs in the U.S.,” Levine said.

Shares of Mountain View, California-based LinkedIn fell as much as 3.7 percent after Facebook’s announcement, and traded down less than 1 percent to $98.77 at the close in New York. Facebook, based in Menlo Park, California, rose 13 percent to $22.36.

The new app is a “central location” for recruiters to share job openings with Facebook users, the company said.

-- Editors: Reed Stevenson, Lisa Rapaport

To contact the reporter on this story: Brian Womack in San Francisco at bwomack1@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net

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