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$ECHI
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eCareer Holdings, Inc. (ECHI) is an early-stage Internet company working to organize the online hiring process by creating content-rich, profession-specific communities. By fully integrating its personalized career centers with matching branded professional and social networks, the company creates a solution for employers and professionals to enjoy the very best user experience.
The company’s development of branded career websites focuses on specialized “Internet Job Verticals,” which allow for some of the most effective job advertising platforms on the market. Through the use of superior technological solutions, ECHI plans to address the high demand for skilled professionals in a variety of narrow sectors while simultaneously attracting potential clients with strong advertising budgets.
Headquartered in Boca Raton, Florida, ECHI launched its first site, Openreq™, in January 2013. Using advanced software solutions, the site provides staffing, recruiting and human resource professionals with access to job openings in their desired sector. With a single post to Openreq, companies can reach more than 1,300 sites including popular social networking destinations such as Indeed, Glassdoor, Facebook and SimplyHired. The company is also currently developing Cardiologist.com and BioFuel Zone, which are planned for release in the near future.
Led by a team of experienced executives headed by Chief Executive Officer Joseph J. Azzata, ECHI is persistently working to refine its effective job database solutions. With a range of unique features including industry news, social media groups, webinars, events, training programs and consolidated industry statistics, ECHI continues to engage in the design and development of revolutionary career websites aimed at recruiters, staffing companies and government agencies.
| eCareer Holdings, Inc. | Openreq |
Investment Highlights
Business Model
ECHI’s business model is based on two main long-term trends in the talent acquisition process:
As the company builds its Internet presence, brand recognition and “talent pools” across various career verticals, advertising revenue will continue to grow. The company intends to develop and operate as many as 12 specialized career sites in various sectors.
Together, these factors will heighten the value proposition of the company and increase shareholder equity.
ECHI generates revenue by selling job postings, featured jobs, access to resume databases, banner ads and employer branding. The company’s main focus will be on recruitment packages consisting of multiple jobs on quarterly or annual contracts.
Competitive Advantage
The career portal industry is broad and highly competitive. However, specialized career specific websites and job portals are highly fragmented; in fact, some career specialties have few or no presence of specialized career websites. ECHI addresses specialized careers that have a high demand for those professionals and where the recruiting and staffing activities are robust and complex processes with high cost-per-hire. Additionally, ECHI is specifically focused on specialized professions with forecasted long-term hiring demands that are expected to create strong competition and shortages of those professionals. These verticals traditionally attract clients with the strongest advertising budgets.
ECHI has the expertise and ability to target specific careers that have several key factors:
Job Posting Revenue Streams
Job postings by healthcare facilities and recruiters specialized in the healthcare industry: This revenue will be a combination between single job posting fee and multiple job posting plans on one or several job boards owned by the company. As part of all ECHI revenue, this stream is expected to account for 80% the company’s revenue.
Resume database sales to healthcare facilities: ECHI will sell individual or large database access to healthcare employers and recruiters, who are not willing to post job announcements. This revenue stream is expected to account for 5% of the total company revenue.
Product and service Internet advertising on the healthcare job boards owned by ECHI: Additional stream of revenue is the selling of Internet real estate on the different job board pages to companies who want to advertise their services and products. This revenue stream is expected to account for 10% of the company revenue.
Expertise, analysis and research products on Internet healthcare job advertising: During its operations, ECHI will collect vast amount of data. The expertise of its employees in healthcare job advertising will be capitalized through selling of customer request data reports, specialized webinars, research papers and industry analyses. This revenue stream is expected to account for 5% of the total company revenue.
Additional Revenue Streams
Acquisitions: By following a smart and focused acquisition policy, ECHI will increase its revenue by acquiring established, highly profitable and award winning job boards and sites which allows the company to expand its market position while saving money and internal resources.
Web-Based Medical Job Boards of competitors: ECHI plans to acquire several niche web-based job boards that specialize in specific medical areas. The target for this type of acquisition will be job boards with established web presence and a steady traffic of candidates looking for healthcare positions and career advancement.
Web-Based Community Service for Medical Professionals: ECHI will launch a free registration-based community for medical professionals. Revenues will be increased indirectly through the use of this service, as those users visiting the web hub will become aware of the company’s other business.
Social Networking Recruiting: ECHI utilizes new technologies as a recruiting platform. Linkedin.com, Facebook, blogs and micro-blogs have proven to be cost-efficient and rich sources for qualified candidates, especially for executive nursing or new graduates. The synchronization between all job boards of the company and these services will create brand awareness and drive more clients and candidates to the company’s Internet domains.
Products and Services
For Professionals and Job Candidates
ECHI develops highly specialized career websites with profession-specific content: job listings, industry information and news, career development tips, webinars, info-graphs, videos and a customized subscription tool to receive email alerts. The content, job search features and access to these sites will be available to web visitors at no cost.
The goal of these websites is to become the number-one choice for career professionals, where not only active job seekers can interact with advertisers, but also passive candidates can enjoy a unique career site experience.
Employers, Talent Acquisition Professionals, Recruiters & Staffing Agencies
Using the latest candidate matching technology, ECHI enables clients to efficiently reach and target highly qualified “talent pools.” The company’s specialized “talent pools” enable advertising clients to leverage their talent acquisition budgets across 1,300 plus career websites and reach more than 100 million candidates through a single job posting at a fixed rate. This unique platform will also give clients fully disclosed real-time performance data on each job posting saving clients advertising costs and time, as well as centralize their hiring and recruiting efforts.
Openreq.com
The November 2014 re-launch of Openreq.com, a leading news source for human resources, staffing and recruiting professionals, implemented a new "viral news" content format that within three months garnered hundreds of positive comments from members of the human resources, staffing and recruiting community. In addition, Openreq.com "Daily News" subscriptions experienced significant growth in the same time-frame, with approximately 23,000 daily news subscribers, while overall traffic increased 1,000%.
The Openreq website is modeled off the newest and most popular forms of news and social story sharing websites such as The Huffington Post, TED, Buzz Feed and Viral Nova. These sites curate large amounts of news and content and have been wildly successful in gaining traffic and signing up registered users. For these reasons, ECHI has applied that very successful model to Openreq.com.
Openreq is changing the way organizations advertise online for talent by providing a viral and content-driven career community. Openreq shares the most recent industry-related news, stories, videos, and blog posts in a fun, career-inspiring format. The site features the latest and most popular content to keep users informed on their industry as well as information and opportunities for career advancement. The Openreq team also adds its own exclusive stories, videos, news, and even comic relief.
Openreq.com fully integrates the job board from RealMatch which, according to an independent survey conducted by The Job Board Doctor, is one of the Top 3 job platforms that generate revenue for their job boards. The partnership with RealMatch provides the distribution and support Openreq needs to satisfy client job ads. RealMatch uses its expertise to monitor Openreq clients’ job ads to ensure that each ad is receiving traffic and resumes; if these components are not up to par, RealMatch has a protocol in place to make adjustments and suggestions to increase traffic and applicants.
ECHI’s mission, through Openreq and additional planned career matching websites, is to organize the online hiring process by creating content-rich profession specific communities that are fully integrated personalized career centers - each with matching branded professional and social networks where employers and professionals can enjoy the very best user experience possible.
Openreq.com's new jobs section drives response rates up to four times higher than the leading national job board, providing clients with unprecedented outreach to top human resources, staffing, and recruiting professionals within the Openreq community and on the TheJobNetwork™, the largest recruitment ad network of job sites in North America.
Market Opportunity & Strategy
The target market for ECHI is the vast array of not-for-profit and for-profit organizations, companies and healthcare institutions and medical research facilities in the United States that deliver healthcare, as well as everyone who works in them and within all healthcare fields/specialties.
Client Profiles
External HR Departments for Hospitals: These are companies hired by hospitals to outsource the services of HR departments. They are also a natural market ECHI.
Recruiting and Staffing Companies and Individual Recruiters: These clients are another main market for ECHI and will account for 50% of all ad revenue. As a group, they represent $10.2 billion industry and depend heavily on Internet advertising for their recruiting and staffing needs. They also are big potential client for the research, analysis and expertise products of ECHI.
All Other Businesses (Healthcare-Related & Not): Database mining businesses, product and services advertisers will grow as client base for ECHI as the company increases its Internet presence and can profitably insure lead generation for all these companies.
Company-Created Web 2.0 Sites, Social Network Sites and Pages: With the growing importance of the social web, or Web 2.0, companies use all their web presence to generate revenue. Company blogs, blogs created inside of private networks, such as, twitter.com and company research sites, are profitable advertising platforms, as long as they are situated at the top of search engines. With its expertise and multiple domain names, ECHI will generate significant amount of content, appealing to healthcare specialists. This will attract advertisers to these social media sites, and thus contribute to the company revenue.
Demand
Internet Advertising Demand
According to International Data Corporation (“IDC”), the number of global Internet users is projected to grow from 2.7 billion in 2013 to over 3.8 billion in 2017. Additionally IDC reports home broadband access is expected to increase from 655 million in 2013 to 859 million in 2017. This trend is bringing online access to large groups of professionals from diverse industry segments and enabling employers, recruiters and staffing professionals to target them through websites featuring career content and online job opportunities.
Hiring and Staffing Demand
The U.S. staffing industry is a 110 billion market. The 2014 Bureau of Labor Statistics indicate the U.S. averages 4.5 million monthly job openings, and also reports approximately 4.8 million hires and 4.5 million separations monthly. This level of employment activity creates a very competitive hiring landscape. Career X Roads 2013 source of hire report indicated that career websites and job boards combined accounted for 41.5% of all U.S. hires.
Recent Industry Transactions
Management Team
 | Joseph J. Azzata - CEO Joseph J. Azzata is the founder of eCareer, Inc. and has been the chief executive officer and chairman of eCareer Holdings, Inc. since closing of the exchange agreement. He is a leader in the area of talent acquisition, staffing, recruiting and HR with a specialized emphasis on web-based and automated recruiting processes. From 2002 to 2010, Azzata was the CEO and co-founder of MedicalConnections Holdings, Inc. Azzata was instrumental in the growth and expansion of Medical Connections, a national and publicly held healthcare staffing firm. In 2007, Medical Connections was awarded the Gold Seal Certification in Healthcare Staffing from the Joint Commission on Healthcare Staffing. In 2009 Medical Connections was identified as the seventh fastest growing staffing firm in the United States by the Staffing Industry Analysts. Azzata will use his vision and leadership to guide eCareer into an innovative industry leader in specialized online career websites and job boards. Azzata will continue to use his vast resources and insight to attract and acquire immensely creative employees and build a world class executive team. He will focus and dedicate his efforts to the growth and expansion of the company’s business model and forge strategic alliances with industry-related organizations in order to continuously add new and unique features and upgrades to specialized online career websites. |
 | Tim Kardok - Director Tim Kardok currently serves on the board of directors of eCareer and works with the company as a special consultant. Kardok’s past experience is in the areas of strategy, corporate growth, planning, marketing, finance, and sales. Throughout his career, he has held various senior management positions at multiple corporations, and has assisted various companies in a consulting capacity. He also has experience in product development and market deployment; corporate infrastructure design; change management; strategic planning; capital formation, public IPO strategy, strategic acquisitions / acquisition integration; distribution analysis, strategy design and implementation. Kardok is a former CEO and director of an AMEX listed corporation and has more than 30 years of experience. Kardok earned a Bachelor of Arts in Marketing from the University of Notre Dame and an MBA from the University of Bridgeport. |
 | John Barbar - Financial Advisor John Barbar is the financial advisor for eCareer. He is a senior financial solutions and administrative executive who is regarded as a dynamic leader and team builder with extensive hands-on experience in financial leadership, corporate administration, financial project analysis, and human resource management for profit and non-profit organizations. He is known as a trusted financial adviser to entrepreneurs and small and mid-sized business owners in South Florida. Barbar has for more than 13 years served contiguously as senior financial officer for name-brand public and privately held companies with revenues ranging from $13 million to a $200 million division of multi-billion dollar company in such disciplines as real estate development, commercial & residential construction, general contractors, sub-contractors, manufacturers, and distributors. He is praised for his keen insight needed in developing financial solutions targeted at budgets, strategic financial forecasts, improving profitability, capital generation, strategic planning, risk management, and innovative measurements of key financial performance indicators. |
| eCareer Holdings, Inc. |
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