Job Today inks $35M media-for-equity deal with European broadcasters
Job finder appJob Todayhas inked a new media-for-equity deal worth $35 million. The Luxembourg-based startupisone of several European players seeking to switch CV-style recruitment for blue-collarjobs to a faster, app-based interface that returns results based on location and lets potential recruits and employers connect over mobile chat. Rivals include CornerJob,Jobandtalent,inploiand Gig, to name a few. Others also have pursued the media for equity route to gaining faster exposure for apps that can only function well with a critical massof users. The Accel-backed startup closed a $20 million Series B round last November, which also included threemedia investors:Astremedia (Spain), Channel 4 (UK) and German Media Pool VC two of whom (Astremedia andGerman Media Pool) are part of the newmedia for equity deal, along with a secondGerman broadcaster, RTL Germany (which owns a strategic minority shareholding in Astremedia). The media players are giving us broadcasting inventory with a gross value of $35 million in exchange for which they get equity stake in the company, confirmsco-founder PolinaMontano. There are different channels, it doesnt have to be TV only, it can be other channels such as outdoor advertising, billboards, radio but mostly it is TV, she adds. WhileJob Today has not yet launched in Germany, Montano saysit will do so this year.
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