StepStone Acquires Majority of US Technology Provider Appcast

Axel Springer Continues Its Growth Strategy and Further Expands Job Classifieds’ Portfolio of Intelligent Recruiting and Matching Technologies

The StepStone group acquired 85 percent of the US-American company Appcast for about EUR 70 million. Appcast is the leading technology provider for programmatic job advertising in the US With the acquisition, Axel Springer continues its growth strategy and further expands the StepStone group’s portfolio of intelligent recruiting and matching tools. The scalable business model of Appcast offers immense growth potential and will benefit from StepStone’s technology know-how and execution excellence. The tech platform Appcast provides the solutions Exchange, Clickcast as well as Ad Manager to customers and specializes in displaying job ads online precisely where suitable candidates find them. The company’s technology helps firms to increase the number of suitable candidates per ad and boost recruiting efficiency. Appcast’s clients include well-known US brands as well as hundreds of other companies from all industries.

Dr. Andreas Wiele, President Classifieds Media Axel Springer SE: “We have wanted to enter the US job classifieds market with the StepStone group for quite some time. Appcast is a very fast-growing company and the perfect investment for us. With the acquisition of a majority stake in the leading US company for programmatic job advertising, the StepStone group takes the next step towards becoming the leading international digital job classifieds provider. We are looking forward to Appcast and StepStone working together and welcome the team to Axel Springer.”

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Chris Forman, CEO Appcast: “Axel Springer and StepStone share our conviction that technology can advance recruiting with job ads. We also share a common purpose to improving one of the most important personal and social issues for people around the globe: finding a rewarding job that allows them to support their families and communities. We are extremely happy and excited to take the next steps in our extraordinary growth story together with these strong partners and friends.”

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Appcast was founded by CEO Chris Forman in 2014. He will continue to lead the company after the takeover of the majority stake. Today, the company headquartered in Lebanon, N.H., already employs about 100 people spread over four locations.

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