Ziv Eliraz’s Zao, a platform which allows businesses to use social media to recruit new employees, has been acquired by the British eRecruitment company Amris. The financial terms of the acquisition have yet to be disclosed.
Zao declares that it is, “The easy way to make social media/your business network/referrals your most powerful source of hire.”
Users of the platform can create a job, set a reward, and forward it all to their entire network, or only the people they trust the most, depending on the nature of the position.
The company says that it will help the people who receive the job description automatically search through the list of hundreds of people they know and identify the top candidates.
The firms that use the service can then reward their employees who bring in new recruits.
Amris says that it intends to fully integrate Zao’s platform into its own systems. While this means layoffs for most of Zao’s staff, its CEO and founder Ziv Eliraz will be staying on and will join Amris’ advisory board.
Zao’s blog stated, “The transaction combines the complementary strengths and benefits of both solutions, to create a unique and even wider range of eRecruitment services. Employee referrals result in the best quality hires, especially as scarcity of talent is growing in line with the economic recovery. Zao’s employee social referral platform is designed to boost referral hires, and will be available as a fully integrated optional module for all Amris users, and equally available as an independent solution that can integrate with any ATS (applicant tracking system) on the market. Amris is delighted to offer Zao to all companies, whether or not they are using Amris as an ATS.”
Amris, which is owned by The Internet Corporation Limited, has offered full integration with key social media sites such as Facebook and Twitter since the early days of social media.
Mark Kieve, Chief Executive at The Internet Corporation, said about his company’s acquisition of Zao, “This is a revolutionary opportunity that will redefine the way organizations hire, creating a comprehensive joint solution transforming direct sourcing and engagement with the power of social media. The combination of Zao and Amris will allow companies to use social networks not only for job advertising, but for employee referrals and enhanced engagement in an automated and extremely efficient manner.”
Based in Los Angeles, Zao was founded in 2011.