(Cross posted at Kempton with possible additional readers’ comments)
I like to congratulate JobLoft.com, last year’s Dragons’ Den sensation, for being acquired by onTargetjobs (terms of deal undisclosed (all cash? all shares? Or a combination?)). Here is an excerpt from their press release (emphasis mine),
Vancouver, Canada, October 29, 2007 – Hcareers, the leading online job board for the hospitality industry worldwide, announced today that its parent company, onTargetjobs, has acquired the assets of JobLoft.com, a cutting edge hospitality and retail job board located in Toronto, Canada. The combined companies now hold the number one spot as the dominant provider of online recruitment solutions for the hospitality industry.
The addition of JobLoft.com into the onTargetjobs family of job boards reaffirms onTargetjobs’ commitment to hospitality recruitment professionals and jobseekers worldwide, both in the hourly and managerial markets. JobLoft.com’s concentration on the hourly jobseeker looking for local jobs coupled with Hcareers’ worldwide reach and industry presence enables Hcareers to provide a more holistic solution to its hospitality, restaurant and foodservice clients.
I first noticed the guys in the orange ties (Chris Nguyen, Lee Lieu, et. al.) in July 2006 and then I reviewed their deal and pitch in Oct 2006 after their episode was aired. I then blogged about their deal that got away, and some more here, here (with video of the cheque tearing), and here.
So I have been following the JobLoft guys on-and-off for over 15 months. Setting aside the harsh words that I used in talking about how the guys broke up the agreed deal (my focus was never on the terms of the deal itself), I am really happy for Chris Nguyen, Lee Lieu, et. al. and truly hope the terms of their deal were great for them. I bet Chris, Lee and others had worked so hard after the Dragons’ Den deal felt apart on air.
To the JobLoft gang — Congrats and hope we will hear more from you. We have lots to learn from your experience.
[via Sean Wise]