Jobster, the job search engine that relaunched last week as "MySpace for Jobs", has taken a $18 million investment - that takes the total to $48 million. The round was led by Reed Elsevier Ventures and also included returning investors Ignition Partners, Mayfield Fund and Trinity Ventures. The company has 120 employees and it's valued at more than $100 million(!).
Interestingly, Jobster doesn't make its money from consumer-facing services. Instead, it builds Friendster-style social networks for nearly 400 corporate customers, who pay between $1,000 and $9,000 per month for the service. Customers include Boeing, Microsoft, Expedia, Google and Starbucks. In fact, the company serves 15 of the Fortune 100 Companies. These networks are essentially MySpace for job outreach - they're used to manage workers and notify potential candidates about upcoming opportunities.
The critical point here is that there's a huge demand for social networking tools within corporations, and this market is far less bubbly than the consumer space.
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