Francisco Partners Buys Stake in PayScale, Exiting Warburg Pincus
Summary
PayScale, a Seattle-based compensation data company, announced Thursday it is selling a majority stake in the business to private equity fund Francisco Partners for an undisclosed amount of funding. The company seeks out salary information from companies through regular surveys, and uses internally developed algorithms to compare its data against other public and private information. PayScale also lets users track trends like wage growth and employee turnover in different industries. Some observers have argued that making more compensation data available to the public could help job applicants during salary negotiations. Making the job market more transparent might also help to close the gender wage gap; when companies make job offers to both men and women, for the same job, women receive lower salary offers nearly two-thirds of the time, according to San Francisco-based Hired.
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