[Dave] Evan thanks for being with us today. [Evan] thanks so much Dave thanks for having me
and you've built a massive network of recruiters across the u.s. with an
innovative platform that services national name-brand clients let's start
with a brief overview of the business tour uh and again thanks so much for
having me Dave to recruit accom is a hiring platform for the world's largest
network of recruiters we empower businesses to recruit specialized talent
faster with virtual teams of recruiters and AI job matching technology to our
network of recruiters which are small and independent recruiters is now over
25,000 small and independent recruiters and we have businesses of all sizes from
fortune 50 companies to smaller businesses that are leveraging our
platform of AI job matching and screening technology with these
recruiters to find talent better faster stronger excellent what would you say is
the essential value proposition for investors why should they take an
interest in recruiter com today I think that in the unprecedented world that
we're living in with now thirty eight million people unemployed we're gonna
see the greatest hiring in our lifetime and the ability of now to rehire
re-engage employs 1099 employees gig economy all these things that are
happening are happening right now and recruiter comm with our army of
independent small and independent recruiters combined with our AI matching
is really at the epicenter of this unprecedented time in our economy how
big is the market opportunity and what sets you apart from the competition so
the interesting thing Dave the the staffing and recruiting industry is a
hundred and fifty billion dollar industry it's been around for a very
long time now it's broken up into lots of different segments finding the talent
sort of the actual direct hire side is actually a fifteen billion dollar market
so you've heard of corn fairy Heidrick & Struggles Russell Reynolds and the
staffing side you've heard of manpower and a deco the reality is that so much
of this business is actually done by these small and independent recruiters
and we're aggregating that just like upwork did with freelance designers just
like compass is doing in the real estate market we are aggregating them all
together under a common platform and creating this virtual army of small and
independent recruiters combined with phenomenal AI and other technologies to
make their jobs better the reality is we're called recruit accom we are the
destination site for recruiters who are some of your major clients we have
customers like Ford Motor Company Schlumberger Keurig Dr Pepper coca-cola
but we also have call centers on nursing nursing care facilities health care
customers mortgage brokers lots of different types of customers as the
economy continues to grapple with the ongoing covet 19 pandemic recruiter comm
index is a unique tool that provides some valuable insight in fact you're on
in beat you've been on CNBC to talk about the index with talk to us about
this index what you'll be doing on CNBC sure you know so to quote Wayne Gretzky
you know it's not where the hockey puck is that's where the hockey puck is going
so in April we actually said you know what whenever there's a crisis there
always creates pockets of opportunity let's survey our recruiters let's use
the power of these twenty five and a half thousand recruiters to help us
identify where's the hockey puck going and they identified for us obviously
health care but also financial services and mortgage services and within weeks
we signed a great mortgage company where we were doing real active hiring for
this mortgage company and we took those results and said wow this could really
be useful for somebody and we took the may results we started in April and we
took it out in May and we brought it to CNBC a week ago Thursday so not even a
week and a half and we predicted actually our recruiters predicted job
increases the average recruiter is working on twelve jobs in April that
grew to fifteen in May but we also identified two new segments that weren't
on the map in April and it was construction and manufacturing
as new segments that we're seeing the light of day and what do you know the
job report a week later called manufacturing construction and 2.5 more
jobs so are we're really there as there's not just the sentiment for the
recruiting industry but actually like the air traffic controller just to see
where things actually happening and we're gonna be keep doing that with our
June index and July index now you grow revenue more than six hundred percent
last year what kind of revenue growth you see going forward well thanks Dave
what you're really recognizing is that while we sound like a company that's
been around for a while and I'm obviously not a young guy I've been in
the technology space for my my entire lifetime we have a phenomenal senior
management team with lots of experience both in technology in platforms and
recruiting and in staffing I started my first job right out of NYU
Business School I started my first company at the age of 21 in mobile
computing on very very early stage talking about the 90s in mobile
computing and really disrupted the pharmaceutical sales automation space
grew the period over a decade with cut with customers like pharmacy Upjohn
Roche far as laboratories many other companies got acquired in 1998 by one of
the dreaded Braddock Street companies and then have substance in a number of
high tech companies disruptive technologies from Wi-Fi security mobile
Bluetooth business intelligence platforms etc I mean I got involved in
recruit accom a little over a year and a half ago by one of their in dusters who
said hey look we have this incredible asset what can we do with these assets
and at the same time I've had another life I had a brother who passed away 26
years ago from cancer and we started he was a Wall Street trader and we started
his former boss and friend and I started a foundation at a conference series used
to be called the iris own conference now more known as the the zone conference
which has really become just a global phenomenon we do 11 conferences around
the world raising over 90 million dollars for pediatric cancer our big one
is in May it would have been two weeks ago in May but you know very very
highbrow calls have been made at these conferences all focused in the
financial sector so I always joke around that I'm the most connect the guy in
finance not in finance when I was on CNBC I'm on CBC a couple times a year he
could Google that but you know when I was introduced by Scott Walker it was
hey you know Evan stone from the sonne conference here he is now with recruiter
comm - recruited comm existed before for a couple of years as he was building out
its platform and it became a public company through a merger with truly
technologies to really form recruiter comm and we also purchased another
company to really build the business that we're building now so not surprised
by the growth but we're really only tapping just the beginning part of our
opportunity we are driving six and a quarter million dollars of traffic to
our website every month now there's an amazing thing Dave we spend almost $0
marketing we have incredible content we have training programs we have a
quarterly magazine newsletters articles every day lots and lots of great content
on recruiting career development etc and so we have over 2,300 search terms there
were either number one or number two four so we tried this incredible traffic
to a website and what we're really doing now is unlocking the traffic our
conversations unlike just about any other company you're in is what's the
traffic coming on to our website and how do we monetize that traffic so we've
only been doing this for a little over a year and it's incredible we're at about
a ten million dollar run right now we're going really really nicely through the
year I come from a start-up experience so I really look for a profitability and
an eye towards profitability to make sure that we're not burning a lot of
cash I think the Creed's great discipline and we're gonna be one of
those companies that really not only emerge out of CO vid as a powerhouse
we're really looking towards not just scalable revenue but also a
profitability to recap what's the main takeaway for investors so you know so
here we are at this really unprecedented time we have now 38 million people they
need to get hired or rehired not all of them are going to go back to their same
jobs the companies are gonna change the companies are gonna morph how do you do
this how do we get these 38 million people are 30 million or 25 million
people back to work quickly the answer is you're gonna have to use recruiters
to do this not just to find them but to actually scream through them engage them
and move this process quickly you know if you're a company and you have a
thousand people to hire and it takes you an hour to hire each person in screening
time that's a thousand hours that you're gonna have to spend
that's an amazing now multiply that by millions the amount of time that has to
happen so we need to do something there has to be something that can actually
change this multiple we believe at recruiter comm that we do it everything
about 10x faster than we did yesterday from our virtual teams of recruiters to
our AI matching tomorrow we're gonna be able to do it ten times faster than
today with additional AI technology on video no everything is gonna be done on
video for the next year in the foreseeable future that means that all
your interviewee all your screening is be done by video and we are incredibly
well positioned to take advantage of that excellent it's a great story Evan
thinks your being with us today thanks so much Dave