Jobster’s 2007 Losses: $11 Million; Out Raising More

On the Radar: Sunday, March 16th, 2008

Off the wires:

Jobster, the much-hyped and heavily funded online-recruitment-meets-social-networking service, is out looking for more money, after burning through most of the $48 million it has raised since 2005. Founder and CEO Jason Goldberg left the company late last year, and has started a new social news site. Jobster, under new management, is now looking to raise more money, reports ERE.net. In a letter sent to investors, quoted in the story, the company lost about $11 million in 2007 and has less than $3 million left in the bank. Its burn rate about $1 million a month, an amount calculated from information contained in the shareholder letter, the story says.

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Comment by Slouch on March 17, 2008 at 9:22am: Hey Ami, from what i understand all shareholders got this letter. I did not get mine because I moved offices and somehw it got lost in the confusion. I should get it this week. I did hear all of the bad news from some other shareholders. It's all too bad.

I have let them know I am interested in making an offer for the Recruiting.com domain name. I do suspect though that if it were to go up for auction, I would end up the low bidder so, not much one can do about that.

I am hoping that I will be able to make an official offer in the next few weeks and that someone there will look at it seriously cause it will be a serious offer.

Comment by Amitai Givertz on March 17, 2008 at 11:36am: Jason, Jason, Jason...why don't you put together a consortium? Anyway, domain names are so yesterday, if you get my drift :0)