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Online Marketplace for Care Services Puts Onus on Families to Check Backgrounds

Written By Friday, March 4, 2022 Add Comment Edit

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Care.com, Inc.
Care.com Logo.svg
Blazon of business Subsidiary
Headquarters

Austin, Texas[one]

,

United States
Expanse served United States, Canada, Uk, Western Europe
Founder(s) Sheila Lirio Marcelo
Cardinal people Tim Allen (CEO)
Industry
  • Consumer Internet
  • Online market place
Services
  • Child intendance
  • Senior care
  • Tutoring
  • Housekeeping
  • Pet care
Employees 515[2]
Parent IAC
URL world wide web.care.com
Launched May 2007; 14 years ago  (2007-05) [three]

Care.com is an online marketplace for childcare, senior care, special needs intendance, tutoring, pet care, and housekeeping through membership in a two-sided marketplace. The company is headquartered in Austin, Texas, and has boosted offices in Berlin, Germany.[4]

The site has 32.9 million members beyond 20 countries.[5] [half dozen] Care.com is besides offered every bit an employee do good by 150 companies and organizations,[vii] such as Google and Facebook.[viii]

The company raised $111 one thousand thousand in venture funding[9] earlier going public on January 24, 2014.[10] In February 2020, Care.com was caused by IAC and is no longer publicly traded.[11] [12]

History [edit]

Sheila Lirio Marcelo, who helped start the higher savings site Upromise and was vice-president and general manager of TheLadders.com, came up with the idea for Care.com when she had trouble finding someone to help care for her get-go kid.[13] Then her father had a heart attack while he was caring for her second child, and she had difficulty finding care for him in addition to child care.[14]

Between October 2006 and the end of 2012, Intendance.com received $111 million in funding from investors including Matrix Partners,[fifteen] [16] Trinity Ventures,[17] [eighteen] New Enterprise Associates,[19] USAA,[twenty] and Institutional Venture Partners (IVP).[21] Immediately prior to founding Intendance.com Marcelo was an Entrepreneur in residence at Matrix Partners, where she met with the founders of Sittercity.com and another website for finding caregivers, to discuss a potential investment and bringing Marcelo in as CEO.[22] Matrix Partners did not invest in either house and, months later, Marcelo founded Care.com and received $iii.5 meg in Series A funding from Matrix Partners, with Reid Hoffman, co-founder of LinkedIn also participating in that round.[xv] The Boston Globe reported on several allegations that Marcelo had met with other companies in order to use the data for starting Intendance.com.[22] A spokesperson for Matrix responded denied whatsoever claims of "unfair handling".[23]

When Care.com launched in 2007, it helped customers find babysitters, tutors, pet intendance and senior care.[24] The site also offers other services, such as housekeeping[25] and treat special needs children and adults.[26] Users tin can search, post jobs and wait at some caregiver profiles for free as basic members or enroll every bit premium members and pay a monthly, quarterly, or yearly subscription fee for total access to the platform and all caregivers.[2] The site also helps people observe chore opportunities in their surface area past posting a profile and applying to openings for a monthly fee.[27] [28] The company offers a babysitting charge per unit calculator that helps parents calculate what to pay their sitter.[29]

It expanded its online market place into the United Kingdom in April 2012,[30] followed after by Canada.[31] The company debuted Karoo, a private mobile social network that connects families and caregivers, which was subsequently shut downward, in September 2012.[32] In December 2012, Care.com launched Care.com Recruiting Solutions to help care-related businesses hire caregivers and fill staff openings through the site.[33] In June 2013, Intendance.com and Cognition Universe, a company that runs child care centers throughout the state, announced a partnership, where Care.com corporate clients volition accept admission to KU's facilities for backup care.[34]

In November 2013, Care.com filed for an initial public offering with Morgan Stanley, BofA, Merrill Lynch and J.P. Morgan as the joint book-running managers, and Allen & Visitor LLC and Stifel equally senior co-managers.[two] In December 2013 details of the IPO were get-go revealed,[half dozen] with January 2014 reports proverb that the company planned to raise $85.vi million[2] by offer 5.35 million shares, at $fourteen to $16 each,[35] on the New York Stock Commutation under the symbol "CRCM". On January 23, 2014, 5.35 million shares were priced at $17.[36] Care.com went public on Jan 24, 2014, with shares climbing to $22.55, upwards about thirty pct from its initial pricing.[37] It was the kickoff Boston venture-funded engineering science company to go public in almost 2 years.[ii]

In 2015, The Boston Earth reported a couple defrauded by a nanny who had cleared the site'southward background check process every bit well equally other instances where families in the United States were suing the company for alleged negligence in properly conducting background checks, including 2 where the sitter hired was facing criminal charges over the death of the child they were hired to spotter.[38] In March 2019, The Wall Street Journal reported that the site listed solar day care providers as licensed in their state when they were not, and that in 1 of the providers two children had drowned and at some other, children had been physically and sexually abused.[39] [xl] Care.com responded by removing unverified daycare listings from the site that had been generated automatically but never claimed by the facility possessor and strengthened vetting procedures for members.[41] [42] [40]

In Dec 2019, IAC announced it was buying Care.com for $15 per share, a 13.2% premium over Care.com'southward most recent closing toll of $13.25, in a deal valued at near $500 1000000. Equally part of the deal, IAC executive Tim Allen became CEO of Intendance.com[43] when the acquisition was completed in Feb 2020, at which point Intendance.com ceased trading on the NYSE.[44]

Acquisitions [edit]

Company Year
Breedlove & Associates[45] [46] 2012
Besser Betreut GmbH.[47] 2012
Parents in a Pinch[48] 2012
Citrus Lane[49] [50] 2014
Town + Country Resources[51] 2018
Galore[52] 2018
Trusted[52] 2018
LifeCare[53] 2020

Awards [edit]

In 2013, the Intendance.com app Karoo received a Webby Laurels under the social (handheld devices) category.[54] The app was later withdrawn. [55]

References [edit]

  1. ^ https://world wide web.linkedin.com/visitor/intendance-com/nearly/
  2. ^ a b c d east Kyle Alspach, "Intendance.com sets IPO share range at $fourteen-$sixteen; could raise up to $86M," Boston Business organization Journal, January ten, 2014.
  3. ^ Om Malik, "Reid Hoffman invests in Care.com," Gigaom, July 30, 2007.
  4. ^ "Check out Care.com on Inc.com!". Inc.com . Retrieved 2020-12-18 .
  5. ^ Intendance.com, "Company Overview," Care.com, February 4, 2017.
  6. ^ a b Rebecca Grant, "Intendance.com raising $80M IPO to capture early on (and massive) intendance marketplace," Venture Beat, Dec 12, 2013.
  7. ^ Michael B. Farrell, "Care.com, a site for caregivers, aims at Wall Street," The Boston Earth, Nov 26, 2013.
  8. ^ Serena Saitto & Lee Spears, "Care.com Said to Pick Morgan Stanley as Atomic number 82 Bank for IPO", Bloomberg.com, August 7, 2013.
  9. ^ Brian Womack, "Care.com Raises $50 Million in Fifth Round of VC Funding Archived January 5, 2014, at the Wayback Machine," Bloomberg Businessweek, August 7, 2012.
  10. ^ Jordan Graham, "Experts: Care.com IPO shows Boston's Spider web savvy," Boston Herald, January 24, 2014.
  11. ^ SEC. "Care.com Inc 2020 Notice of termination of registration of a class of securities under Section 12(b) 15-12B". SEC.report . Retrieved 2020-12-18 .
  12. ^ Dumcius, Gintautas (December twenty, 2019). "Care.com acquired for $500M, new CEO appointed". www.bizjournals.com . Retrieved 2020-12-21 .
  13. ^ Beth Pitts, "Sheila Marcelo, Founder & CEO, Intendance.com, on Raising $111m Archived 2013-12-13 at the Wayback Car," The NextWomen magazines, February 5, 2013.
  14. ^ Susan Chaityn Lebovits, "Tapping Spider web of caregivers," Boston World, December 9, 2007.
  15. ^ a b Om Malik, "Reid Hoffman invests in Intendance.com," GigaOm, July 30, 2007.
  16. ^ Matt Marshall, "Caring.com, a site for caregivers, to launch this week," VentureBeat, September 20, 2007.
  17. ^ James Yard. Connolly, "Care.com raises $25 million with insurer USAA as corporate VC," Boston Business organisation Periodical, Oct 12, 2011.
  18. ^ "Care.com, Inc. Obtains $9,999,900 New Financing Circular," Xconomy.com.
  19. ^ Leena Rao, "Intendance.com Raises $twenty Million To Connect You To Nannies, Babysitters And Caregivers," TechCrunch, Oct 12, 2010.
  20. ^ James Thou. Connolly, "Intendance.com raises $25 million with insurer USAA every bit corporate VC," Boston Business Periodical, October 12, 2011.
  21. ^ Brian Womack, "Care.com Raises $50 Million in 5th Round of VC Funding Archived January 5, 2014, at the Wayback Car," Bloomberg Businessweek, August 7, 2012.
  22. ^ a b Kirsner, Scott (22 November 2009). "Websites' rivalry provides lesson near sharing strategy". Boston.com . Retrieved fourteen July 2013.
  23. ^ Scott Kirsner, "The Backstory: On Care.com, Sittercity, Entrepreneurs, and Entrepreneurs-in-Residence," Boston.com, November 23, 2009.
  24. ^ Dan Kaplan, "Care.com, one-end shop for child, pet, and elderly care," VentureBeat, August one, 2007.
  25. ^ Cindy Atoji Keene, "Online solutions for real life hassles," Boston Globe, May 19, 2013.
  26. ^ Kyle Alspach, "Care.com files confidentially for IPO next yr (report)," Boston Business organization Journal, November 25, 2013.
  27. ^ Daryl Nelson, "Care.com: Is it the Craiglist of the time to come?" ConsumerAffairs, Jan 21, 2013.
  28. ^ "How Much Does Care.com Cost: Membership, Background Check, Pay". Gigworker.com. 2019-01-04. Retrieved 2021-01-22 .
  29. ^ April Rueb, "Paying Your Babysitter Archived November 28, 2011, at the Wayback Car," Parents Magazine web log, April 17, 2011.
  30. ^ Olivia Solon, "Carer marketplace Care.com launches in U.k. Archived December 17, 2013, at the Wayback Machine", Wired Uk, April 19, 2012.
  31. ^ Jamillah Knowles, "Online care-giving business firm Care.com scores $50m circular to fuel international expansion," The Next Web, August 7, 2012.
  32. ^ Sarah Perez, "Care.com Debuts Karoo, A Private Mobile Social Network For Families & Caregivers," TechCrunch, September 18, 2012.
  33. ^ Andrew Karpie, "Care.com's New Online Recruiting Platform. Why Should Nosotros Intendance? Archived December sixteen, 2013, at the Wayback Machine," Staffing Industry, February 8, 2013.
  34. ^ Robert Goldfield, "Child care for working parents only got a piffling easier," Portland Business organization Journal, June 3, 2013.
  35. ^ Ben Fox Rubin, "Care.com Sets IPO Range at $14 to $xvi a Share," Wall Street Periodical, Jan 10, 2014.
  36. ^ Kyle Alspach, "Intendance.com prices IPO to a higher place forecast, ends Boston's VC-backed tech IPO drought," Boston Concern Journal, Jan 23, 2014.
  37. ^ Russ Britt, "Intendance.com shares surge by a third on care finder'south first twenty-four hours of trading," MarketWatch, Jan 24, 2014.
  38. ^ Murphy, Shelley (Dec 29, 2015). "Groundwork check failed to find nanny's record". The Boston World . Retrieved July two, 2020.
  39. ^ Grind, Kirsten; Zuckerman, Gregory; Shiflett, Shane (March 8, 2019). "Care.com Puts Onus on Families to Check Caregivers' Backgrounds—With Sometimes Tragic Outcomes". The Wall Street Journal . Retrieved July 2, 2020.
  40. ^ a b Liptak, Andrew (2019-03-31). "Care.com deleted 'tens of thousands' of providers after study plant lax vetting procedures". The Verge . Retrieved 2020-12-18 .
  41. ^ Grind, Kirsten (2019-03-11). "Care.com Overhauls Vetting of Sitters, Listings". Wall Street Periodical. ISSN 0099-9660. Retrieved 2020-12-18 .
  42. ^ Grind, Shane Shifflett and Kirsten (2019-03-31). "Care.com Removes Tens of Thousands of Unverified Listings". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-12-18 .
  43. ^ Elly Cosgrove, "Care.com shares surge after Barry Diller'south IAC agrees to buy online caregiver marketplace," CNBC, December xx, 2019.
  44. ^ "Stock Market Insights | Seeking Alpha". SeekingAlpha . Retrieved 2020-12-21 .
  45. ^ Chris Reidy, "Intendance.com acquires Breedlove & Associates," Boston World, August 21, 2012.
  46. ^ Kyle Alspach, "Care.com acquires payroll biz," Mass High Tech, August 21, 2012.
  47. ^ Brian Womack, "Care.com Acquires Besser Betreut every bit Website Expands Internationally," Bloomberg.com, July 11, 2012.
  48. ^ Chris Reidy, "Care.com buys Parents in a Compression," Boston World, January 15, 2013.
  49. ^ "Care.com acquires Citrus Lane", Care.com, July 17, 2014.
  50. ^ "Care.com shutting downward eastward-commerce firm information technology previously caused", bizjournals.com, Oct 29, 2015.
  51. ^ "Care.com Acquires Town + Land, Galore and Trusted". July 30, 2018 – via www.bloomberg.com.
  52. ^ a b "Acquisitions by Care.com".
  53. ^ "IAC Traded Love for Luck With Care.com". October 20, 2020 – via www.wsj.com.
  54. ^ The 17th Annual Webby Awards Archived 2013-12-17 at the Wayback Car. The Webby Awards Homepage.
  55. ^ "Karoo domicile page," Care.com web site

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Source: https://en.wikipedia.org/wiki/Care.com

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