Friends Reunited acquired the site in a deal expected to be worth over £2m, based on meeting performance targets within the next two to three years.
The new site, Friends Reunited Jobs, which launches in April, aims to benefit from a burgeoning online recruitment sector with revenues forecast to grow by 85% to £183m between 2004 and 2009, it says.
The site will offer Friends Reunited's 12m members a free job search facility. Job seekers will be able to search some 30,000 UK vacancies by category, location and wage for free, while companies can pay to post jobs and search though 200,000 CVs for potential candidates. It will cost advertisers £495 for three months' unlimited access, and £695 for six months.
Michael Murphy, chief executive of Friends Reunited, said that there are already 3m people searching for job candidates among those users who have registered their details in the Friends Reunited Workplace reunion service, which spans across 480,000 UK workplaces.
He added: "All of our services are about searching for people in one form or another. Friends Reunited may have started out reuniting old school friends, but it has quickly grown to include reuniting old work mates."
Mark Gasiford, the co-founder of and now director of Friends Reunited Jobs, said: "The online recruitment business is growing at a phenomenal rate of around 40% per annum."
The launch of Friends Reunited Jobs follows other its brand extensions: ancestry site Genes Reunited with 2.4m users and 29m names listed; and dating service Friends Reunited Dating, with more than 300,000 active members.
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