Jobster Rings Up Investment Cash

    July 19, 2006
    WebProNews Staff

A total of $18 million traveled into job search website Jobster, with half of the cash coming from Reed Elsevier, the publisher that owns LexisNexis and Hollywood trade paper Variety.

The other half of Jobster’s investment came from a trio of venture capital firms that have been early investors in the company, Classified Intelligence reported in a client email today.

Jobster has been careful with its cash, CI writer John Zappe noted in the report. A previous funding round of $19.5 million has mostly stayed in the bank, according to Jobster CEO Jason Goldberg.

They have spent some of their cash, though. Jobster bought in May of this year, and picked up WorkZoo in July 2005 for its vertical search engine.

Zappe detailed some of Jobster’s changes, which saw it evolve from an employee referral service to what it is today:

But with Jobster’s rapid expansion from its roots as an electronic employee referral program into a more full service, targeted recruitment advertising company, the potential to present highly targeted employment ads plays out best on sites that are themselves highly targeted. Last week it launched a completely re-tooled Web site that leans heavily toward job search and community and introduces “tagging” to the recruitment world. Its highly touted employee referral service is not even mentioned on the home page.

Reed Elsevier gets a boost to its recruitment efforts, Zappe wrote, while Jobster becomes the job search technology of choice throughout Reed Elsevier’s international network of websites.


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David Utter is a staff writer for WebProNews covering technology and business.