28 Aug

Hire by Google Slated to Shut Down in September 2020

WRITTEN BY Neha Gupta

Google (GOOGL) plans to shut down its cloud-based job recruitment tool, Hire by Google, in September 2020. Human resources departments used this tool, which was launched in 2017, to simplify the employment process.

Hire by Google’s genesis

The tech titan based Hire by Google on Bebop’s technology. Bebop is a startup that Google parent Alphabet bought in 2015 for $380 million in January 2016. With the acquisition of Bebop, Google hired its founder and CEO, Diane Greene, who also co-founded VMware. After the acquisition, she became the head of Google’s cloud computing business and served on the company’s board of directors.

Google announced last fall that Greene had left the position, and was replaced by former Oracle executive Thomas Kurian. You can read more about the leadership transition in this division in Why Who Runs Google Cloud Is a Big Deal.

When Greene stepped down, the company’s cloud computing business was generating an average of $1.0 billion in quarterly revenue. Last month, Google stated that its cloud business averages $8.0 billion in annual revenue.

Hire by Google costs $200–$400 per month

Google plans to officially sunset Hire by Google on September 1, 2020. Some Hire customers are mourning its imminent demise, as reflected in a variety of tweets.

Google’s announcement stated that although it was a difficult decision to close Hire by Google, the company would be able to focus its resources on other products in its cloud computing unit.

Hire by Google was designed for the human resources departments of small and medium companies. Hire costs $200–$400 per month, with the pricing structure scaled to fit the size of the company.

Google aiming for more cloud market share

Although the company stated that Hire had been a successful product, the company’s announcement indicated that Hire by Google didn’t mesh with its central focus for its cloud computing business.

Presently, Google controls an 8.0% share of the global cloud computing market, according to Synergy Research’s July 26 estimates. GOOGL has been gaining ground in this market, and it has overtaken IBM (IBM) to become the third-largest cloud company in the world.

However, Google still falls far behind market leaders Amazon (AMZN) and Microsoft (MSFT), which control 33% and 16% of the global cloud market, respectively.

Latest articles

Goldman Sachs (GS) settled a lawsuit that alleged it rigged bond prices. Also, Deutsche Bank agreed to pay a fine of $15 million to settle a lawsuit.

In the November 15 premarket trading session, Amarin Corporation (AMRN) stock rose more than 7%, caused by the FDA positive decision for Vascepa.

In the November 14 trading session, Aurora Cannabis (ACB) stock fell 12.7% from the previous session during after-hours trading.

Strategy Analytics reported that Apple could lead the 5G smartphone market in 2020, outshining Samsung—the current leader in the global 5G market.

This week has been tough for the cannabis sector. Cronos Group and Canopy Growth reported lower-than-expected earnings, and the sector ETFs dropped.

Yesterday, Argus Research upgraded Uber stock from “hold” to “buy.” Let's look at Uber and Lyft’s recent analyst rating changes.