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December 10, 2004
The $100,000 Internet job search
Posted by Dominic Basulto

Every now and again, Corante New York will feature up-and-coming New York technology companies that have popped up on our radar screen. With Web sites like Monster.com revolutionizing the job search industry, it's no surprise that other online job search sites are springing up overnight. One of the most recent entrants is New York's own TheLadders.com, an online job search marketplace catering exclusively to the $100,000+ employment market.
Formed in July 2003, the company recently lined up $7.25 million in expansion-stage VC financing from Matrix Partners, one of the true blue-chip VC firms. So why did they get VC financing when so many other companies have not? For one, there's a top-notch executive team in place -- the founder of the company, for example, is a former SVP at HotJobs.com. Moreover, the company claims an unusually "broad and loyal following" of 200,000 members -- and that means plenty of revenue opportunities.
The company also claims that it has "inverted the traditional business model" -- instead of asking employers to pay for listings, they ask job seekers to pay for access to listings. It's like looking for apartments in New York -- it's the apartment seeker who pays the broker's fee, not the landlord. The end result is a self-selected pool of super-applicants who are really serious about making $100,000+ a year.
Of course, there are other, low-tech alternatives to finding that six-figure job.
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