Glassdoor Introduces Machine Learning To Help Users Know If They Are Being Fairly Paid

glassdoor-know-your-worth

Since 2008, Glassdoor has given workers a platform to discreetly share information about their salaries and work environment. After collecting user-submitted data for eight years, Glassdoor now has 33 million monthly users and an amassed reviews, ratings and salary information for around 600,000 companies in 190 different countries.

Harnessing the data that it has collected, from its salary database and company particulars, Glassdoor has now introduced a tool called “Know Your Worth”. And as its name suggests, the tool is built in order to help people determine their worth in compensation.

Furthermore, talking about salaries can be quite uncomfortable and difficult for some which is the very reason why Glassdoor has released this tool. Besides that, the aim is also to create the most transparent jobs and recruiting marketplace.

The tool is free and operates using machine learning algorithms to analyze factors such as job title, experience, company and location in order to provide the user a chart that shows the user’s value in context of their local labor market worth. Moreover, the users’ market values and pay ranges are tracked and updated every week.

Additionally, this tool benefits employers as well, as job seekers will more likely have a realistic salary expectation. This salary transparency, in turn can also translate into better recruitment and higher retention rates.

“The goal is to help people understand fair pay, period,” Scott Dobroski, community expert at Glassdoor said, “Also, it can help eliminate existing pay gaps, whether it’s through gender or ethnicity. Moreover, when you know what you’re walking into and you understand and believe you’re getting paid fairly, employees tend to stick around longer ”

Meanwhile, the late-stage startup brings in revenue by offering paid products and services for employers, such as job listings that targets job seekers who match certain variables like skill level and experience. To date, the company currently has about 4400 employers using its paid services.

As Glassdoor continues to invest in machine learning, its services will improve. The company, currently houses more than 15 data scientists and staff. It also received US$ 40 million in a recent Series H round of funding, bringing its total funding to US$200 million with investors including Google Capital, T. Rowe Price, Sutter Hill Ventures and Tiger Global.

For more information, please visit https://www.glassdoor.com/index.htm

By Vivian Foo, Unicorn Media

Japan’s 360-Degree Virtual Reality Ad Network Secures Six-Digit In Seed Funding

vrize seed funding

Boarding the virtual reality shinkansen is a Tokyo-based startup known as VRize. But this company is not into the VR world of entertainment or social networking, instead the startup is running an ad business that utilizes the virtual reality space. More specifically, VRize is providing a 360-degree VR ad network for enterprises.

Today, in addition to VRize Ads, the startup has also announced the launch of another new service, VRize Video along with the news that it has secured a round of seed funding from Japanese investment firm B Dash Ventures and Japanese web marketing company Speee. The amount of the funding has not been disclosed, but according to sources, it seems that the company has raised a six-digit sum in terms of US dollars.

To date, VRize is working on two applications, one being VRize Ads, an application launched earlier in August which produces VR ads that can be distributed in three different formats including 360-degree video ad, over 150-inch large-screen feel video ad and 3DCG video ad.

On the other hand, VRize Video is a content management system for VR which will allow companies to develop VR applications, that is including in-app video clips for several VR platforms such as Oculus, PlayStation VR, HTC Vive, GearVR and Daydream.

In addition to the distribution of VR apps including 360-degree and 2D video clips, VRize also plans to improve the system by adding several other features such as live-streaming and in-app analysis.

VR is on the rise, with Mark Zuckerberg latest keynote offloading many considered a “crazy demo” of VR, especially taking photos in an virtual reality and share it on “real-reality”, and Malaysia’s Havson Group is on it’s way to building the first ever VR theme park in Malaysia, who has recently won South East Asia Champion at Create@Alibaba (NYSE:BABA) Cloud Startup Contests, the world is seeing a revelation of new possibilities.

About VRize
VRize is a startup that provides VR advertising network, a solution that will help VR content producers and game developers to better monetize. The idea behind this startup was inspired by Immersv, operating on a similar business overseas. Besides that, VRize also aims to move the ad networks in the web field to the VR field. In any case, VRize is the first and true VR ad network in Japan, providing VRize Ads and VRize Video services. For more information, please visit http://vrize.io/

By Vivian Foo, Unicorn Media