TheLadders.com – Profile
HQ: New York, NY
Founded: March 2004
Management: CEO is Mark Cendella, an ex-HotJobs SVP. He seems to play the press well – lots of ink and good positioning as a commentator on the executive job market.
Investors: Matrix Partners recently invested $7.25M. A previous round (April ’04 – amount undisclosed) was seeded by individuals, including Kevin Ryan, CEO of DoubleClick. Apparently Mr. Ryan was not yet distracted by the fact that his company is in dire straits.
Business Model: Job listing site offering listings for jobs over $100K in salary. Company claims value-add comes from the fact that all listings are reviewed for quality – and there is minimal reliance on paid listings (which can often be crappy and from shady employers). On average, up to 80K listings are reviewed and then pared down to 5K high-quality listings per week. Revenues come from subscriptions to access listings; industry areas include sales, marketing, HR, tech, legal, finance, and operations.
Competitors: HotJobs (Yahoo), Monster.com, CareerBuilder
Dirt: Good version 2.0 of an Internet business that seemed played out. Large competitors like HotJobs and Monster have entered the mainstream, but as a result, now have shotgun strategies to reach ALL job seekers. The a:c likes the high-end approach and, if we can put on the biz-dev hat for a second, we think TheLadders could have a fruitful relationship with a high-end social networking site like Linked-In. Only one major cause for concern: established players could probably re-jigger pretty easily to offer a product for the high-end market. Then again, they could just buy TheLadders.com.