Fellow Shareholders,
Recruiter.com Group, Inc. (OTCQB:RCRT, “Recuiter.com” or “the Company”) is reaching an exciting inflection point in the Company's growth. We would like to take a moment to lay out our ambitious vision for the Company, map out our plans for 2021, and discuss how our mergers and acquisitions strategy will accelerate our revenue growth and technology position.
For more information about our company, filings, and financial data, please visit Recruiter.com Investor Relations
Mission: Recruit Talent Faster
Our corporate mission aligns with our nation's mission at this historic moment. As the country seeks to rebuild in the aftermath of the pandemic, we will drive the effort to re-hire millions of people and provide new economic opportunities for the next generation.
2021 Outlook
As we report monthly on CNBC, our Recruiter IndexTM shows optimism as the pandemic begins receding and the economy, especially the job market, comes back. As a destination website for all things recruiting (last month, we generated $4M in organic [free] traffic according to SpyFu), we believe Recruiter.com is uniquely positioned to generate revenue by helping employers, candidates, and recruiters make meaningful employment connections. In 2020, we helped top companies find call center operators, nurses, mortgage professionals, IT engineers, and even a rocket scientist. We also helped our network of small and independent recruiters earn thousands of dollars in fees during a year when the recruiting industry was hit hard.
A few of our 2020 accomplishments:
In Q4, we also announced three new initiatives:
M&A Strategy
To accomplish our mission more rapidly, we are setting a course for expeditious growth that includes acquiring high-quality businesses. We recently announced one transaction, and we are in discussions and negotiations with numerous other companies. To guide us as we consider our dealings, we have laid out four criteria for our acquisitions. The companies we acquire should:
OneWire
We announced that we entered into an agreement to acquire OneWire, a subscription-based talent-matching platform focused on the financial, banking, and accounting sectors. OneWire has accumulated a skilled and niche candidate pool of over 700,000 financial services industry professionals, and it has developed exciting SaaS-based tools for professional hiring. OneWire brings to Recruiter.com subscription-based software products, a deep history of success in the fast-growing finance field, a robust talent pipeline, and management talent with operational expertise and backgrounds in S&P 500 level investor relations. We expect to complete this transaction in Q1'21 with consideration of restricted Recruiter.com common stock (RCRT), which demonstrates OneWire's management's shared belief in our company's vision.
Conclusion
We intend to achieve significant organic and inorganic growth in 2021 by building on our success in 2020, leveraging our stock to acquire complementary businesses, and capitalizing on our recruiting-industry position and strong technical capabilities. We set off in 2020 to build out our platform, have scalable revenue, and end the year with a $10M revenue run rate and a path for liquidity. With our S-1 filed and our 2020 objectives attained, our 2021 objectives are clear: continue to scale our platform revenue to a $40M revenue run rate, achieve cash flow profitability, up-list on a national exchange, and continue to unlock the longer-term value of Recruiter.com as a billion-dollar brand.
Thank you for being a valued shareholder of Recruiter.com and a part of our journey.
Best,
Evan Sohn
Chairman and CEO
Recruiter.com Group, Inc.
Forward-Looking Statements
Forward-looking statements and certain factors that may affect our business We have included in this letter “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act relating to our operations, results of operations and other matters that are based on our current expectations, estimates, assumptions and projections. Words such as “will,” “plan,” “believe” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict.
Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. Risks, uncertainties and other factors that might cause such differences, some of which could be material, include, but are not limited to, the factors discussed in our Registration Statement on Form S-1, Annual Report on Form 10-K and Quarterly Reports on Form 10-Q under the sections entitled “Risk Factors.” Our forward-looking statements speak only as of the date of this letter or as of the date they are made, and we undertake no obligation to update them.