Jobster, a site perhaps best described as a network for work (pardon the seeming redundancy) in operation since 2005 is now looking for more money with which to stay afloat, says Rafat Ali of PaidContent.org, referencing a report published by ERE.net. The word is that Jobster has consumed most all of its $48m in funding gathered throughout its rocky tenure, and is sitting on a slim $3m reserve. It is said that the company has a burn rate of about $1m/month.
2007 turned out to be an especially unappealing period for the company, which saw its founder and CEO Jason Goldberg exit stage left and seems now to be in a state of managerial disarray. Or something close to it, anyhow. Add to the executive jumble a loss of some $11m for last year, even accounting for the discharge of about 40% of its workforce (60 employees), and the venture is doing none too well despite chewing through significant amounts of capital.