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Ehave Snaps Up AI Headhunter for $10M, Signaling Commitment to AI
Globenewswireยท 2025-06-03 12:00
Core Insights - Ehave, Inc. has acquired AIHeadHunter, an AI-powered recruitment platform, to enhance shareholder value and address inefficiencies in the recruitment industry [2][3][4] - The global staffing and recruiting market is projected to grow from a valuation of $619 billion to over $2 trillion by 2033, with a compound annual growth rate of approximately 13% [7] - AIHeadHunter aims to reduce hiring time by 85% and costs by 70%, addressing the average 44-day time to fill a position and the average cost per hire of $4,700 [7] Company Developments - The acquisition includes $2.7 million in Series A Convertible Preferred Stock and 100 million shares of common stock, with performance-based earnouts of up to $7 million tied to revenue and customer milestones [3][4] - Ehave has established a wholly owned subsidiary to operate AIHeadHunter, appointing Joey Ricard as president, who has extensive experience in building scalable AI infrastructure [9][10] - The company plans to fund the new subsidiary with proceeds from a Regulation A offering, with an initial budget of $1 million over 12 months, and expects to launch its enterprise pilots and SaaS offering in Q3 2025 [12] Industry Context - The recruitment industry is currently burdened by inefficiencies, with recruiters spending up to 70% of their week on manual tasks and 60% of job seekers abandoning lengthy application processes [7] - Gartner forecasts that over 40% of enterprise recruiting tasks will be fully automated by 2026, positioning platforms like AIHeadHunter to capture significant market share [7] - AIHeadHunter is designed to streamline executive recruitment and talent sourcing through automation and advanced data analysis, fundamentally rethinking how talent is discovered and qualified [8][10]