Glassdoor Acquires Fishbowl: Challenging LinkedIn's Dominance

Glassdoor Acquires Fishbowl to Enhance Workplace Transparency

As LinkedIn increasingly focuses on attracting content creators and fostering a more personable atmosphere, a competitor known for candid workplace discussions has made a strategic acquisition. This move aims to strengthen its position against LinkedIn in the professional networking space.

Fishbowl Integration into Glassdoor

Glassdoor, a platform renowned for allowing anonymous employee feedback, has acquired Fishbowl. Fishbowl is an application offering users a space for anonymous feedback, interest-based discussion groups centered around work, and job searching capabilities. With 55 million monthly users, Glassdoor is integrating Fishbowl’s content into its core platform.

However, Fishbowl, currently serving 1 million users, will also continue to function as a separate application for the time being.

A Logical Progression for Glassdoor

Christian Sutherland-Wong, CEO of Glassdoor, views the acquisition as a natural extension of the platform’s existing functionality. He notes that, given the prevalent desire for employee feedback, consolidating recruitment and reviews makes logical sense.

“Our foundation has always been workplace transparency,” Sutherland-Wong stated. “We anticipate that future job seekers will utilize Glassdoor reviews alongside insights from professionals within their respective fields.”

Fishbowl experienced significant growth during the Covid-19 pandemic, tripling its user base within the past year.

Acquisition Details

The acquisition is being executed by Recruit Holdings, the Japanese employment and technology conglomerate that purchased Glassdoor for $1.2 billion in 2018. Financial details of the deal have not been disclosed.

San Francisco-based Fishbowl, established in 2016 by Matt Sunbulli and Loren Appin, had secured under $8 million in funding, attracting investment from firms like Binary Capital, GGV, Lerer Hippeau Ventures, and Scott Belsky, according to PitchBook data.

LinkedIn's Dominance and its Shortcomings

LinkedIn currently dominates the professional networking landscape, boasting over 774 million users. It remains the largest social media platform geared towards professionals and work-related content.

Despite its size, LinkedIn has been criticized for lacking authentic, unvarnished conversations about work. The platform often features self-promotion, motivational content from successful individuals, and industry updates readily available elsewhere.

Glassdoor: The Anti-LinkedIn

Glassdoor distinguishes itself by providing a platform for anonymous commentary, effectively serving as an “anti-LinkedIn.” The platform hosts candid, and sometimes critical, discussions about workplaces, alongside potentially company-seeded positive reviews.

Honesty, insight, and realism are hallmarks of the Glassdoor experience, contrasting with the motivational and aspirational tone often found elsewhere.

Expanding Glassdoor’s Capabilities

Fishbowl will enhance Glassdoor’s offerings, providing new tools to expand beyond workplace reviews. Users researching companies can now engage in conversations with others, and those expressing dissatisfaction with their current employer can simultaneously explore new opportunities.

The Rise of Authenticity in the Workplace

This acquisition reflects a broader trend towards authenticity in the professional world. The shift in work dynamics, accelerated by the Covid-19 pandemic, is a contributing factor.

The widespread adoption of remote work and social distancing has blurred the lines between professional and personal lives. This has impacted how individuals perceive their work and what they seek from their employment.

Addressing Isolation and Career Stagnation

A Harris Poll commissioned by Glassdoor revealed that 48% of employees experienced isolation from colleagues during the pandemic. Furthermore, 42% felt their career progression stalled due to limited in-person interaction, and 45% anticipate continuing to work remotely, either fully or in a hybrid model.

Glassdoor believes that tools like Fishbowl can address these challenges by facilitating better communication and connection among professionals.

Future Outlook

Whether Glassdoor can successfully integrate Fishbowl’s tools and attract users remains to be seen. However, if a significant segment of users desires an alternative to LinkedIn – particularly those who frequently voice criticisms of the platform – this acquisition could represent a viable option.