There’s been a few juicy rumors floating around the ERE conference here in Hollywood, FL, but the best one I’ve been privy to so far was from a reliable source about the recruiting exchange site BountyJobs.
Rumor has it that the site just received $20 million in funding. That would be in addition to the $12 million of funding they received previously from Greylock Partners back in July and the $3.5 million from RPM Ventures, Tiger Global, and John Osher, entrepreneur.
It’s apparent that a lot of people have faith in CEO Jeremy Lappin, an MIT graduate and young entrepreneur who founded Versity and later sold the site for $80 million.
A spokesperson from BountyJobs contacted me last week to discuss the funding but then later canceled, saying they preferred to keep the news quiet for awhile. We’ll keep you updated if we hear there’s any truth behind the purported amount.
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October 30th, 2008 at 2:40 pm
That’s great news for Bounty Jobs. I sure hope they don’t blow the money like Jobing blew the initial $60+ million from 2 years ago and now the other lump sum from several months back. They have cut head count across the country – eliminating jobs in all areas. I guess the frachise model of being local is just not working for egotistic Matos.
October 31st, 2008 at 8:20 pm
This is a great rumor they are spreading themselves to get some press…they have been shrinking little by little…$20 million, what a joke…
November 6th, 2008 at 10:55 am
Bounty Jobs, what a joke. Lappin is so full of himself there is never enough space in a room for lappin and his ego. At the end of the day can anyone in their right mind tell me why a recruiter would want to give away 25% of their fee to a company that basically allows me to submit a resume? I have spoken to at least 5 companies who used the site and no longer are interested, since the quality of candidates were as poor as the ones they get off of the major job boards. BTW the companies who are no longer using the site still have their jobs posted and still have recruiters sending ‘engagement’ letters and hoping to get a reply.
December 11th, 2008 at 11:51 am
Sounds too like $20M is a joke….I mean, the fact they got $12M is a joke….but what could they possibly do with the money? Seriously. On the flip side, it’s interesting to see just how far Talenthire (the harbinger to all these sites) has fallen. The remaining owner Mike Veronesi is probably more full of hot air than Lappin is. Met him at a conference in early 2007 and was impressed with him, until I went on their site. They have like no jobs left and I cannot see how they are still in business. I was informed they had 3 partners and 15 staff. I understand both other guys ran for the hills and Veronesi is left with himself and two other. The remaining sites will all be gone in 24 months.
December 23rd, 2008 at 12:05 am
Arlen,
Hello. I was informed about your post. TALENThire.com has been referred to many times in different articles and blogs yet our common policy is to not respond. When my name was personally used though, I felt it warranted a quick post. TALENThire.com is actually doing very well. 2008 was a major learning year for us in the space. As with most organizations we encountered many ups and downs and feel that we have grown from all of them. We decided in the summer to make a fundamental shift in our business model from a direct hire marketplace to much more of a full vendor optimization organization. You can view some of the changes with our improved site at http://www.talenthire.com. We went through a few personnel changes, hired a very strong operational executive, and have added contract and contract to hire solutions to our offering. Some of our goals for 2009 are to launch our new offerings, continue to support our wonderful client base, and build upon the foundation that has been established over the past four+ years. I always speak of transparency and would love any constructive feedback that will help to better our organization. Feel free to contact me at any point and we can discuss further. Have a wonderful Holiday.
Regards,
Mike
mveronesi@talenthire.com