Oracle’s Buying SelectMinds

Oracle is buying SelectMinds, a New York maker of cloud-based social talent sourcing and corporate alumni management apps that are supposed to empower recruiters, hiring managers and employees to leverage social connections for higher-quality referrals.
Referrals are the #1 source of external hires according to a CareerXroads study last year.
SelectMinds products are already integrated with Oracle Cloud recruiting, performance management and human capital management solutions and will extend its social and mobile initiatives into talent management.
Terms were not disclosed. SelectMinds was started in 2000 and got $5.5 million from Bessemer Venture Partners in 2007.
SelectMinds claims JP Morgan, ADP, IBM, eBay, Rackspace and Schlumberger as customers.

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