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SimplyHired Getting Simply Cash

Simply Hired, a job search company based in Mountain View, California is about to snag some major cash, according to Silicon Valley sources. SimplyHired which till date has raised $4.2 million from founders and Silicon Valley angels like Ron Conway and Kanwal Rekhi, is getting another $8 million from Foundation Capital, sources tell me. This will be the Series C round of financing.

I don’t have any more details, but with total amount of money raised topping $12 million, it doesn’t look like the company is going in for a quick flip. Gautam Godhwani, at Search SIG event was pretty explicit in pointing out that he is not interested in a quick exit. Jobs is a relatively hot market, where a well-funded start-up can compete quite aggressively with the four major players – HotJobs, Monster, CareerBuilder, and Craigslist. The big four collectively are said to have about 30% of the total job listings market. SimplyHired’s competitors include

7 Responses to “SimplyHired Getting Simply Cash”

  1. congrats to gautam on convincing VCs to put money on the table, ofcourse he did put his own money too!!

    i am waiting to see how he can convince recruiters, employers to pay for his service, that google adsense banner does not make lot of money, it is just a distraction than revenue generator (seems like having google adsense banner is becoming web 2.0 thing!!)

  2. I’ve been a fan of SH since they launched but I’m now scratching my head in regards to their strategy.

    1)Consider recent comments from the CEO that they are builing an “application” and “google does not do apps well” hmmmm? They are a job aggregator. Period. a tie up with LinkedIN and some salary survey firm and a message forum does not turn you into an “application” is an app. SH is a vertical search engine. Let’s be clear.

    2) They seem too focused on bragging rights, at the expense of engineering. For example they promote themselves as the largest job database in the market with over 4M jobs but most of those are old, archived jobs no longer online and not even viewable.(so what’s the point in bragging?)

    Check out no bragging rights in terms of size of their index but do a comparative search on both sites and see which returns more fast and relevant results. I get the sense SH is a little behind on the back end engineering side , but way ahead on design (cool design for sure!!)

    3) Revenue – what’s the model? I’m guessing some radical announcement must be around the corner.

  3. I am sorry but I come back to the same question every VC ask a start-up in the online space these days: Why can’t Google do it? If (almost)every company can list openings on their website, and google indexes those listing; how far away is a vertical search button for “jobs”? Not to mention the massive implications of Googlebase for listing jobs and resumes.