Zapoint buys Jobster |
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Mass High Tech
Zapoint buys Jobster
Jobster has a new corporate parent. The online recruiting service which has operated as a unit of Seattle-based Recruiting.com has been sold to Zapoint, a four-year-old Brookline, Mass.-based startup which offers "talent management" applications to HR professionals.
Terms of the deal were not disclosed, but Recruiting.com will continue to operate as a separate company. Jobster dropped that corporate moniker last year. The name change followed years of challenges at the company, including layoffs, management changes and strategy shifts. It is now led by Jeff Seely, the former CEO at Sharebuilder.
“The user interaction between Zapoint’s SkillsMapper and Jobster’s skill analytics technology should be revolutionary and a real step forward for the human resource field,” said Seely in a statement. “We think the combination will provide a better solution for customers, making it easier to connect the market supply of skills with employer demand.”
Zapoint operates SkillsMapper, a technology that helps HR professionals find more qualified candidates. That technology will be combined with Jobster's job searching tools.
“Most job boards focus on the demand side of the equation. By placing the power of SkillsMapper within the Jobster framework, we intend to shift the balance for perhaps the first time ever to the supply side, thereby benefiting employers, recruiters and candidates alike,” said Zapoint CEO Chris Twyman.
In an interview, Twyman said that the deal represents an "asset purchase." As a result, no employees from Jobster will be joining Zapoint. However, Twyman said that they may look to hire some ex-Jobster workers.
There are plenty of them out there, since the company once employed more than 150 people. Twyman declined to disclose the purchase price, though he said it is significantly less than the venture capital that has gone into Jobster/Recruiting.com over the years.
Recruiting.com has raised about $55 million from Ignition Partners, Reed Elsevier Ventures and others. Zapoint, which employs 23 people, has raised about $5 million from Ensys Capital and HFF. (Editor's note: The venture total for Zapoint has been corrected]
The Jobster brand will continue under Zapoint, with Twyman saying the goal is to create an "end-to-end career management tool."
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