Zapoint, a private recruitment/job website based in the Boston area, supposedly has recently purchased Jobster, a heavily funded Seattle area recruitment site/company. I think Jobster raised over $50 million in venture capital! I read somewhere that Zapoint, founded in 2007, raised a more modest $5 million and that this acquisition was an “asset purchase.” FYI, asset purchase is VC talk for acquired for peanuts.
A couple of key take aways - one, how come I’ve never heard of this Boston area firm? Sounds like Zapoint is doing ok. Secondly, it’s not always the highly funded company that makes it. Sometimes smart, lower burn is a better way to grow a startups.
I’m not the biggest fan of the recruitment site/tool market. It’s really competitive and hard to gain traction/differentiate. Of course, I’m at an online document management startup, so perhaps I am the pot calling the kettle black. Anyways, I hope that Zapoint is able to take advantage of the marketing dollars spent and the technology developed by Jobster and create a cool, big technology company right here in new England! Good luck to them!
