Matt Fischer, President and COO of Bullhorn, joins the Chad and Cheese podcast to discuss the evolution of Bullhorn and the future of the recruiting industry. Fischer shares his background and how he got into the staffing and tech industry. He also talks about the importance of AI in recruiting and how it can optimize the human element of the job. The conversation covers Bullhorn's recent acquisition of Textkernel and the benefits it brings to the company. Fischer also discusses Bullhorn's marketplace and venture investments, as well as the state of the staffing industry.
PODCAST TRANSCRIPTION (blame errors on AI)
Joel (00:24.706)
OHHHH YEEEEEEEAHHHH!
Joel (00:30.808)
What's up boys and girls. It's your favorite podcast, aka the Chad and cheese podcast. I'm your cohost Joel Cheeseman joined as always. Chad sew washes in the house as we welcome Matt Fisher, president and COO at bullhorn Matt welcome to HR's most dangerous podcast.
Matt Fischer (00:49.178)
Hey guys, happy to be here.
Joel (00:51.498)
Nice to have you, nice to have you. So.
Chad Sowash (00:51.766)
I don't believe that at all. don't believe that.
Matt Fischer (00:53.225)
I know, start the podcast with a lie. Can you believe it?
Joel (00:56.278)
Yeah, I'm gonna I'm gonna go out on a ledge and say more people know Bullhorn than know you. So let's get to know you a little bit before we get into the nitty gritty of the business. Who is Matt Fisher?
Matt Fischer (01:07.324)
I'll start with the fact that I'm sort of inextricably linked with Bullhorn. I've at the business for 20 years this year. It's been a pretty wild ride. started the business, Art started it in 1999 and we got into staffing and recruiting in earnest in 2002 and I joined shortly thereafter. I love tech and love all opportunities to talk about it. So looking forward to that today. In terms of who I am, I'm an avid
Outdoors person, I'm up in New Hampshire right now as we were talking about before. Just loving the mountains and loving the lake. I'm also an aviator. I love to fly, I've been doing that for 20 years too. And got a great family and a young daughter who keeps me on my toes.
Chad Sowash (01:53.9)
What brings a pilot, a pilot to this industry? mean, you are a pilot, correct? What the hell, I mean, and you were in the industry, the aviation industry before getting here. What leads you to this path?
Matt Fischer (01:59.449)
I am. Yes.
Matt Fischer (02:09.648)
was the other way around. I got into, yeah, I got into staffing and tech first and then always wanted to fly. Totally love it. And, and started doing that in like 2004, right about the same time I started born actually. And then went on to build a little business around it and providing flight instruction and aircraft rental. And it's just a fun, the fun thing, fun hobby.
Chad Sowash (02:11.148)
Really?
Okay.
Joel (02:29.696)
It's so refreshing when a Bostonian gets on and doesn't like, you know, worship the socks or come on and talk about Boston sports. that's, that's refreshing, Matt. Thanks for.
Matt Fischer (02:35.452)
No, no. I know, it was 10 years ago, I probably would have dropped some Tom Brady bombs in there. You know, the time has passed. Yeah, well, that's good, yeah, for sure.
Chad Sowash (02:42.859)
geez.
Joel (02:43.394)
Come on, got Celtics. No? None of that? Okay, all right. All right, we'll let it pass. Let it pass.
Chad Sowash (02:48.068)
A little, little, little Tatum action. So 99, 1999, and Bullhorn started really when getting into staffing? year? 2002?
Joel (02:54.69)
Good year.
Matt Fischer (02:58.652)
Yeah, so prior to 2002, 2003, the focus was sort of kind of like freelancing, sort of like ODesk and that kind of thing prior to that being an established model. And we were a little bit early on that. And then Art's got a great story, which he tells a lot about how he got into staffing. And so yeah, that was in like 2002. And it was taking...
Chad Sowash (03:03.01)
Yeah.
Chad Sowash (03:23.541)
Mm
Matt Fischer (03:24.668)
customers had, you know, literally their information on, you know, Loanus Notes databases and, you know, and files. And you guys know that story and saying, hey, how do we digitize that? And that was right when Software as a Service was first sort of starting. And, you know, it wasn't even the cloud back then. It was like getting your data online and that kind of stuff. And so that's how we started. And, you know, it's been a wild 20 years for sure.
Joel (03:45.24)
I know you've taken some money, but did you even take money in the early days or was this thing bootstrapped like most everything was back in 99? Yeah.
Matt Fischer (03:51.452)
Yeah, it was bootstrapped for a while, yeah. Yeah, until 2009 or so.
Chad Sowash (03:56.172)
Are you amazed at the amount of money that's being thrown around to some of these companies today?
Joel (03:59.01)
you
Matt Fischer (04:01.39)
I know. I am. I totally am.
Joel (04:11.224)
They're throwing money around too, which we'll get to at some point. But yeah, they're throwing some money around as well.
Chad Sowash (04:12.184)
All right. Yeah, we'll get there. We'll get there. But we need to dig in a little bit further into Bullhorn. So when was the decision made that, look, we need to have some type of architecture to be able to help some of our clients to be able to pull together all their data. And then you were looking at, obviously, there were applicant tracking systems out there that were being built, but there really wasn't anything for the staffing industry. So was that really just your motivation with being able to try to mimic?
Matt Fischer (04:40.412)
Yeah, that was the motivation early on for sure. And we were really just a front office, single product platform company all the way up until 2017, maybe 2018. And I think the industry has grown so significantly over that period of time and it's become so much more strategic to the end client. Contingent labor represented just a few percentage points of spend in the end client.
Chad Sowash (04:54.198)
Mm
Matt Fischer (05:09.18)
in market for a long time. And now it's like 20, 25 % of their total spend on labor. And so it's become much more significant, much more strategic. And therefore the growth that we see inside of the staffing industry and their needs and the solutions that they provided their customers have also gotten more robust. And so we've been evolving our solutions and our business since that time too. I think 2017, 2018 was really an inflection point for us where
we started to provide solutions for the entire spectrum of recruiting, not just front office, getting into middle office, getting into automation, analytics and talent experience and the talent platform solutions on Salesforce, not just on the Bullhorn native platform to meet our customers where they are. And so it's just really been sort of like a rocket ship since that time and being part of the evolution.
Joel (05:39.832)
Yeah.
Joel (05:57.513)
How does it break down now in terms of business size? Because I know thinking about Bullhorn in the early days, was sort of the misfits. It was the lone wolf recruiter, the tool for the individual. Now it's a much bigger spectrum. So how do you break down now in terms of the lone wolf versus the enterprise?
Chad Sowash (06:13.035)
Enterprise.
Matt Fischer (06:18.3)
Yeah, so I mean, our segmentation is pretty sort of classic SMB and then the field mid market space and the enterprise. There's still a lot of lone wolves. I mean, there's a lot of folks that come out of the enterprise and start their own businesses and it's probably like 25 maybe percent of our customers. But on the top end, we're now doing business with the vast majority of the top 100 across the world in some capacity, not necessarily full system of record for everybody, but for a lot of those customers.
Chad Sowash (06:42.07)
Mm
Matt Fischer (06:47.004)
That's a really large chunk of our business. also when you look at our geographic expansion as well over that same period of time, whether it's in the UK or whether it's in Europe, there's also a very sort of robust mid -market in all of those geographies, especially in North America. And that's also grown significantly. And there's a lot of competition between those larger sort of smaller enterprise, bigger.
know, national account businesses, you know, competing for share of wallet with some of the big dogs. Say again. We're like 60 40 US.
Joel (07:17.656)
What is the US non -US breakdown?
Joel (07:24.437)
Okay. Okay.
Chad Sowash (07:26.274)
Wow, yeah. So the staffing industry, mean, recruiting is their business, right? Versus TA, it's their job. So the adoption rate is much different, especially if you can demonstrate efficiencies and getting to the higher faster. So was that just luck from you guys on the front end? Or did you say, wait a minute, if we put this together, we could show efficiency, you we're gonna hit our total adjustable market much quicker.
because these guys adopt faster.
Matt Fischer (07:57.146)
Yeah, more of the latter. And that continues to sort of be a strategic decision that we make, you know, primarily selling system of record into the profit centers, you know, as opposed to a cost center, you know, in TA. That said, and we'll talk about TextColonel, I'm sure, we're also really excited about the corporate space, in particular, selling AI solutions into that space. And I think that, you know, with TextColonel and some of the other products that we've got, that's really compelling and exciting for us.
So, you know, we're not going to go, it's pretty fragmented from an ATS perspective and we're not really going to go, you know, compete for ATS and corporate, but we are really excited about the AI angle and we think we've got some great products there too.
Joel (08:39.212)
Matt, have more than most, you have your finger on the pulse of the profession. And I know Chad and I talk to recruiters regularly that are scared may be the wrong word, but concerned about their profession. What's AI going to, should I look for a new line of work? Like you have your finger on the pulse of this. What is the state of recruiting? Where's it going? optimistic. are you bullish? Sorry, I had to do that. Are you bullish or are you not so much?
Chad Sowash (08:52.246)
Apprehensive. Yeah.
Matt Fischer (08:53.434)
Yeah, for sure.
Matt Fischer (09:10.05)
I am, I totally am for a variety of different reasons. And I understand the apprehension and I think that apprehension is not just in recruiting. I think that's a global sort of thing, right? And everybody trying to make sense of how AI is gonna change the world. And my view is that historically every single technology innovation that looks like AI has resulted in growth and resulted in more job growth in some capacity. Now, does it change it?
Of course it does, right? And you have to evolve and change along with it. But I'm bullish because I think that it's going to result in growth. I understand the apprehension that recruiters have, but when I talk about this, I really think it's important to think about how you actually apply AI to the space. It's not about replacing the people. It's about optimizing the human and the things that they do. And I have this conversation with recruiters all the time. And we talk about like, your value isn't
I built the best Boolean search string in the world, or I'm really good at asking knockout questions over the phone. Like that's not, that's not really the value that the recruiter brings. Right. And so when you think about how you reimagine the recruiter's day and all of their processes, and you think about it literally from end to end, you got to put the person in the position to do the thing they do best, which is building relationships, finding the right people, convincing them to take jobs, convincing them to continue to work. you know,
with you in your talent community, selling your services to customers, all of those things. And so I think there's a huge opportunity to change and optimize what the recruiter does by using automation and AI to offload the things that are just lower value than that. And I think the tech is at a point now where, you know, with large language models and gen AI, you can just do more. Voice agents is a good example of that. And I think it's an exciting time. And so people need to keep an open mind and they need to think about.
They need to think about their jobs differently, but I think net -net it's possible.
Joel (11:04.876)
Are there more recruiters in five years than there are today?
Chad Sowash (11:05.206)
So let's stop dancing around this, Joel.
Matt Fischer (11:09.104)
Are there what?
Joel (11:09.794)
Are there more recruiters in five years than there are today?
Matt Fischer (11:13.712)
I don't know the answer to that. There might be. I think that they're much more productive and I think that their businesses are doing better as a result. I'm not sure whether or not there's net number of people. I think that has everything to do with the over, I think that has less to do with recruiting and more to do with the end clients and the overall market and if that is growing. I think that if it continues to kind of progress the way it has been for the past couple of years and
Joel (11:15.884)
Okay.
Matt Fischer (11:41.218)
We published the staffing industry indicator alongside SIA. Everybody kind of knows what's going on. I think if there's not a lot of end client growth, then you're not going to see a lot of growth in recruiting. But you can see a lot of competition and taking share by using tech to grow your business and be more productive. I do see that.
Chad Sowash (12:01.238)
Yeah, I think the answer to that, Matt, is there will be a hell of a lot more happy recruiters because they won't be doing the dumb shit that they're doing today. Let's stop dancing. I'm a simple man, Matt. I'm a simple man. So let's stop dancing around the fun stuff. Okay, so in the early days, we were very closely aligned with a little company called Sovereign, which was big in the US and they required
Matt Fischer (12:05.986)
Absolutely. I mean, that's a simple way to say what I said and I totally, that's true.
Yeah.
Chad Sowash (12:29.068)
by Text Kernel, both of them, they were competitors, both of them in really heavily on the parsing and the matching side of the house. And this is a very heavy lift for technology, which is why not many companies do it, being able to actually rip resumes apart and job descriptions and any kind of data and contextualize it and then do the matching on the other side. So you had really the number one and number two player and they'll fight back and forth on who was number one and number two.
But you had a very very nice European footprint and a very nice US footprint then Tex Colonel, I don't know where I get a call and They're being acquired by Bullhorn so Matt what made what made Tex Colonel and that acquisition so appetizing for Bullhorn?
Joel (13:22.646)
And we're fans of the acquisition, by the way. I just want to, I just want to throw that out there. We're pretty big fans of. Text kernel.
Matt Fischer (13:22.778)
Yeah, we're super excited about it. So we're really excited about it. think I'm just take a quick step back and kind of build on the point we were just talking about. I'll come back to the textural thing and connect the dots because I think you got to look broadly at where we think recruitment is going and what our strategy is. And that really is to automate the end -to -end processes and drive significant productivity for our customers.
Chad Sowash (13:25.739)
very. Yeah.
Matt Fischer (13:50.492)
when you reimagine it and you think about what a recruiter's day -to -day should look like or could look like with not only automation, but also with AI, you do end up thinking differently about it. And at the center of that is sourcing. When you look at how recruiters are spending their time, they spend like 35, 40 % of their time just sourcing and trying to find the right people. And then they spend 25 % of their time qualifying the people that they found. And so we've been on this journey of helping customers automate
Chad Sowash (14:12.173)
Mm
Matt Fischer (14:20.06)
and build a great talent experience ever since we acquired Herefish in 2019. That business is like something like 30 times the size that it was when we acquired it. And it's very clear that customers that do that are customers that grow. Like all the cohort studies are sort of inconclusive, sorry, are conclusive in that. And so when you think about how to continue to drive that level of process change for our customers, you just come back to the right search in that.
And that's really critical. And so we've got this huge amount of data in Bullhorn. We have like almost a billion candidate profiles in our system. And we also have all of these outcomes. We know who got interviewed. We know who got submitted. We know who got placed. And we have been building machine learning models and matching models for years now and delivering them through our automation solutions. And we said, all right, we're sort of at a crossroads. When you think about what AI is going to allow us to do, what's the best way to do that? Should we continue to build on the sea of data that we have?
matching models that we have, or should we go take a look and see if there's a way to bring another provider into the family as it were to accelerate that? And that's why we ultimately said, we'll do better and we'll be able to do more with text kernels sort of inside the firewall as opposed to just a marketplace partner. And we've known that leadership team forever, Harard and Hoos, and for a really long time have been very excited about that business.
I think for folks that are close to it, it's sort of obvious. It's kind of peanut butter and jelly type thing. It's like, it makes a lot of sense to have better matching inside of Bullhorn. And then to be able to more effectively, to your point about parsing, really understand all the different profiles so that we can train our models on better parse data. And so that's the rationale, and we're really excited to put the pieces together.
Joel (16:07.864)
So the price tag that the media is reporting is about $330 million for the deal. How much of it was it or was it a defensive move at all? Because Chad mentioned the consolidation in the space. I know you're going to say profit and new features and all that, but was it a defensive move at all to take that off the table that your competition couldn't get to? Was that part of the calculus?
Matt Fischer (16:36.748)
not really. mean, you know, the, the, not really. think that it's really more about growth and more about how we can, you know, offer this sort of re -imagined approach to our customers and how we need great search and match tech and parsing tech to enable that. so we have a very, you know, the, have a very forward looking approach on the acquisition. So no, it wasn't defensive. mean, it, it helps of course, to have sort of the best in the world be part of our, you know, be part of Bullhorn. mean, that doesn't hurt.
Joel (16:38.018)
Yeah.
Joel (17:06.232)
Sure. Well, the Tex Colonel brand. That's, that's true. That's bringing the Patriots reference. That's good. you mentioned the marketplace there. They're better. They're better. You know, they're better in the, in the stable than they are in the marketplace. And you guys, when we first did an every back in the day, the marketplace wasn't of huge importance yet. It seems like it has taken a higher level of importance.
Matt Fischer (17:06.352)
But that wasn't why we
Chad Sowash (17:06.806)
Yeah. Well, I mean, the best offense is a good defense though. Remember?
Matt Fischer (17:12.228)
Yeah, right, Exactly.
Joel (17:33.442)
Talk about the marketplace, what it means to the business, what it means to your acquisition strategy. Obviously, you're seeing these things grow within the marketplace. Those are your next acquisitions, right? How do you think about that? And what is it going to look like in the future, the marketplace, in terms of importance to the business?
Matt Fischer (17:33.585)
Yes.
Matt Fischer (17:40.08)
Mm -hmm.
Matt Fischer (17:53.146)
Yeah, you're right. The ecosystem is really critical. And it's critical for our customers, first and foremost. the customers that are using Bullhorn as a platform, we want to enable an ecosystem of innovation so that they can continue to get the best of the things that are available in an easy, frictionless way. That's the whole point. The added benefit and the byproduct of it is that, yes, you get to see the best solutions in the market as a result. The best are going to rise to the top.
and so we will always continue to do that because our customers think it is really, really important to have, you know, the first place that any emerging technology comes to integrate his bullhorn, because we have the critical mass of customers and that's really important to, to our customers, and their ability to innovate on the platform. So it will always be, you know, of the most strategic importance to us and it's not, mean, Salesforce does it, everybody has figured out that this is an important thing to do. you
when you're providing more than just a solution, you're providing a platform like we are. So it will continue to be, and it really is great for acquisitions. As I'm sure everybody knows, we have acquired a number of marketplace partners and there's a lot of benefits to that. Really the customers have spoken and said, hey, this would be better together than it would be standalone. Help it. And most of the time we're subscale. TechSkirtle is like one of the few that aren't that we've acquired. And the subscale ones are like, okay, let's bring that a little bit closer to the sun and help it scale and get it more tightly integrated.
Joel (18:54.328)
Mm
Matt Fischer (19:20.756)
In Tex Kernel's case, are an at -scale provider, which is cool.
Chad Sowash (19:27.074)
Well, talking about that, I mean, back to that, will Tex kernel stay its own brand? And if so, why?
Matt Fischer (19:34.663)
That's a great question and one that we talk about a lot as of right now it is. And I can't speak to what that will always be. I think they have great brand recognition. I think they have great, great products. And for right now, yes it is. But it's sort of powered by Bullhorn or Bullhorn powered by Dexter. However you look at it, that's the concept. So I can't speak to what it will be in a couple of years, but that's what it is now. And the best part,
Chad Sowash (19:43.222)
Mm
Matt Fischer (20:02.492)
Just in my opinion, the best part about this whole thing is that, and this isn't always the case when you do an acquisition, both sides equally benefit in this case because we can take their parsing and their search and match tech and really tightly integrate it into all of the Bullhorn solutions and benefit from their own 20 years of experience building search models, right? So you get that out of the box and we're already T minus 30 to 60 days of integrating all of their APIs into our search solution. So that's been fast and exciting.
they get that sea of data I was talking about, that very specific, huge, enormous data set that we have, that they can now train their models on all of the profiles and the outcomes that we have in Bullhorn, which is something they have not had. All of their matching models are trained in sort of like a semantic way to understand the best profile. But we've got all of this data that says, we know how they progress through the funnel and who ended up fundamentally going to work. And now we can use all of that data to go train their models.
It's not just a, we're not just making sort of a marketing stance that it's better together. It actually, from a technical perspective, actually is.
Chad Sowash (21:10.38)
Well, if you take a look at it and most of the market actually, they look at AI as just AI and it's not because you have a domain, you have a domain specific organization that's been around forever being text kernel and they are deeply steeped in AI. Parsing, matching, they've been doing large language models for a very long time and then data is the new gold and you just talked about you guys having
the gold there now being able to use a domain leader in parsing and matching and then, know, whatever the hell else you do with it because there's so many new applications that you can go into. Let's talk about number one. They are a very large tech vendor source, right? A lot of their products are in the technical side, which I would assume you guys don't. So this is a new market.
And then there's also the corporate side where there's a new revenue line. I mean, not did you get into new technology, but you're also opening your total addressable market with corporate products and tech products.
Matt Fischer (22:19.802)
Yes. Yes. Yeah, that's right. That's why I was saying, you know, from an AI perspective, we are really excited to provide those solutions into corporate and there's more that we offer there too. And I think, you know, one of the other benefits now is a totally different delivery mechanism for all of this matching in our automation technology. That's really, really important because
Chad Sowash (22:39.643)
Mm
Matt Fischer (22:43.58)
Prior to the acquisition, Tex Kernel's ability to go deliver these matches was either through APIs or through their search and match front end. Now, we can take all of those matches and deliver them through automation. We can deliver them into the talent experience and through the talent platform. We can deliver them into corporate ATSs in a much more scaled way. And so it just sort of takes all of, and you're right, they are a very technical company. So they have skills APIs and they have all of this technical underpinning, which makes it really
Chad Sowash (22:51.478)
Mm
Matt Fischer (23:13.988)
very easy for us to integrate our front -end components into it, but also to put that into the automation platform that we have to really help that scale. And so that's exciting. And I think, yes, it does open up a whole market in corporate for us. And as we think about what the future of recruitment looks like and the AI solutions we can provide with automation as a foundation, with search and match as a foundation, it really does widen the aperture, which is cool.
Joel (23:43.66)
You talked about the marketplace's importance of sort of not knowing the hottest companies. You also have bullhorn ventures. Tell me about that.
Matt Fischer (23:52.016)
Yeah. Yeah. So we established Bullhorn Ventures as an investment arm. That was probably about three years ago. And we make investments in companies that we believe are doing really exciting things in the industry. And we've made a few of those so far. And so far, been really great. And it's a little bit different than the marketplace in that.
most of the companies that we're investing in are out actively looking for funding and we participate in whatever rounds that they're raising. And I think every customer we've invested in is also in the marketplace as well. we look at companies that we think are innovative and are going to be some either creating a category or leading in a category in the future.
Joel (24:39.172)
Is there an amount of money in the fund that you say every year we're gonna spend this or try to dole this out or is it like a case by case basis of this is an exciting company, let's find the money to like to put into it. Yeah.
Matt Fischer (24:50.588)
It's both. We have an amount in the fund that we have provisioned for ventures, but we don't feel like we have to exhaust it every year. We do it only with the right opportunities.
Joel (24:58.604)
Yeah. Yeah. And in addition to the bullhorn ventures, you have the bullhorn staffing indicator, which you briefly mentioned. What is that and why should we care?
Matt Fischer (25:09.52)
Yeah, so the staffing indicator has become, I mean, so we started that after COVID when the industry was in, as we all know, a pretty rough spot and it was hard to predict what was going on. And so we said, okay, this whole sea of data that I was talking about certainly can be used to train machine learning models, but it can also be used to help everybody understand the state of the industry at a pretty granular level. And it's become sort of the de facto go -to.
for most folks to understand what's going on and staffing at a macro level. We publish it on our website, we do it in conjunction with SIA, and we use the data in our platform to sort of dissect by industry what the different trends are in terms of hours worked and placements and growth that is happening. And everybody knows it's been tough since probably, COVID was rough, major boom for 18, 24 months coming out of that. And then there was a normalization process that occurred.
because it was kind of an unsustainable bubble coming out of COVID. But since the beginning of 2023, everybody knows a trend's been a little bit tough, but we have seen week on week growth for the past few weeks for the first time in two years, which would tell you hopefully that the trend line is at least starting to flatten or potentially start to move the right way. So there's certainly some cause for optimism, cautious optimism in the data, but it looks a little bit better than it has for the past couple of years.
Chad Sowash (26:36.984)
So indeed made an announcement, big announcement. Hey, we're going to get into staffing, which, you know, kind of makes sense. Recruit their parent company is in staffing. How has that helped you position to your current clients from a retention standpoint and also from an attraction standpoint with obviously Hearfish and then also Tex kernel being able to attract more or keep more business to be able to fend off
Matt Fischer (26:44.956)
Yep.
Chad Sowash (27:06.078)
the all those all those enemies at the gate.
Matt Fischer (27:10.544)
Yeah, I think that's the reality, you, it's just park on Indeed for a second and just fast forward a few years. Like a fully tech enabled, AI enabled and recruitment process will be common. And people that are not following that type of approach are going to be losing share. Indeed or not, right? Whatever they're doing. doesn't really matter because our customers have got to go along that journey and they've been doing that, right? We've been digitizing like the...
Chad Sowash (27:24.514)
Mm
Matt Fischer (27:36.676)
Step one has been to digitize, get everything front to back in the cloud. So if you have that data set, you can then automate to deliver a more productive recruiter and a happier customer and happier talent. And that's the journey that our customers have been on. And now it's sort of the next step function is how can you use AI to further automate that process? And fundamentally, that's the tech that indeed is going to be using on their own, right? They built their own tech to go and do this with their own staffing arm.
And so the differentiation and the ability to succeed is still going to be down to our individual customers ability to win. And that tech platform is going to be ubiquitous and it's going to be common. And so they got to get there. And our goal is to help them get there and evolve to the point that they can use our solutions to compete with other tech enabled things in the market. So I view Indeed as one, there will be more and our customers, they got to continue to evolve and we got to help them do it.
Chad Sowash (28:14.701)
Mm
Chad Sowash (28:35.106)
Well, having a big name like indeed sure the hell doesn't hurt.
Matt Fischer (28:38.78)
Sure does. Sure does.
Joel (28:41.72)
All right, Matt, I'm going let you out on this one. You've been in business for 25 years. You tout 10 ,000 customers globally. You employ 1400 or so people. You're doing business in 14 countries. When's the IPO? Or maybe a nicer way to say that is how do you look at going public and what's the strategy moving forward, private versus public?
Chad Sowash (29:06.05)
Don't do it. Don't do it.
Matt Fischer (29:06.158)
Yeah.
Look, I think that in the end of the day, we are blessed with awesome private equity sponsors who understand the business. Our current StonePoint is our current sponsor, our current majority, and they own staffing firms and they really understand our business. And there's so much benefit to having those folks on our board and helping us grow the business. So we don't have any near term sights on doing that.
We're really happy with the partners that we have now. And you know, can't rule anything out. Like, I don't know what's going to happen in five years. Nobody knows the answer to that. But for now, we're really happy with our team.
Chad Sowash (29:51.852)
I think they're doing that now, Joel. They don't need a fucking IPO to do that. All right, everybody, that's Matt Fisher. You had to ask, you had to ask. President and COO of Bullhorn. Matt, if somebody wants to find out more about Bullhorn or maybe even connect with you, where would you send them, my friend?
Joel (29:56.632)
I had to ask. I had to ask.
Matt Fischer (30:09.242)
Yeah, I get the easiest email on the planet, mattatbullhorn .com. So you can find me really easily. I don't hide. So yeah, happy to talk to anybody. And I think most people know how to get in touch with our broader business. There's lots of folks that are knocking on doors. So just happy to continue to hook up those.
Chad Sowash (30:26.381)
Ha
Joel (30:27.404)
Matt, thanks for spending time with us. We'll let you get back to your lovely New England summer vacation. Chad, that is another one in the can. We out.
Chad Sowash (30:36.376)
out