Jul 20, 2006

Jobster raises more money

Jason Goldberg gave me the inside scoop yesterday, but issues at work and concern about the blog ban in India ensured that I am only blogging about it today.

Jobster raises $18 million.

Wow! That's a lot of money for a web 2.0 company. And if you haven't noticed, jobster now has a new look too.

Om Malik's blog says:

Jason Goldberg likes to call his job search web site “MySpace for the workforce.” Given the company had only three million job searches for the month of June, it might be a bit of a stretch. All of Jobster’s revenues come from its deals with Fortune 500 employers like Starbucks, Boeing and Google. Jobster sells its web-based tools to manage finding workers, which cost between $1,000 to $9,000 per month, depending on the companies’ size. It has 400 business customers. There’s enough revenue coming in from that booming business for Jason to say the company will be profitable in the middle of next year.

And the biggest scoop for us in this part of the world:

He’s got big plans to offer service in India and China sometime next year he says. It’s ambitious, but so is the company. It already acquired 3 companies even though its just 2.5 years old, and last Thursday launched a new site, which Jason says has pushed the search stats up 50 percent from June.

The new site has got all the Web 2.0 and community-based features you’d expect from a company calling itself the MySpace of the working world. Now that Jobster’s got the new money and the new site, maybe it could come close to bringing in the users to match that moniker.

However, I think Jobster should not really go down the "mySpace" route. Getting traffic is great but the money is with the big boys, the customers whom Indeed and SimplyHired are not targetting. Getting inside scoop about organizations has been around from web 1.0 days with Vault and WetFeet. However, the money has always been in value-added content, like their reports on industry and how to make a career. Will Jobster go in that direction?

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