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Who wants to be a millionaire? Indeed

Stefanie Olsen Staff writer, CNET News
Stefanie Olsen covers technology and science.
Stefanie Olsen

Investments in speciality Web search engines are still hot.

Job search engine Indeed.com has sold a minority stake in its company for $5 million to investors The New York Times Company, Union Square Ventures and Allen & Company.

Instead of selling classifieds, the 9-month-old site aggregates job listings from career pages and job boards across the Web, including the popular Craigslist.org. Visitors can search among its millions of listings, refining results by date, zip or job title. It makes money from text ads from Google displayed adjacent to job-search results.

For its part, the New York Times is likely hedging its bets against changes in the classified ads market brought by the Internet. For years, Web sites like Craigslist have eaten into profits from old-fashioned newspaper classifieds. Now, aggregation sites like Indeed.com are aiming to cannibalize the cannibalizers.

Place your bets.