CBC's Dragon's Den Goes Web 2.0
Earlier this year, I had the opportunity to pitch our business to a panel of high profile Venture Capitalists. I refined my 60 second pitch, and prepared myself to handle foreseeable objects. We didn't land the initial investment, however I'm glad at least one Web 2.0 company did. Here's their story...
The CBC's Dragon's Den is a reality-TV show here in Canada.
It originally started in the UK, and as with most successful British programming, we adopt many of their shows across the Atlantic.
Nonetheless, I'm intrigued by this show, not only because just a few months ago, I was standing in front of the same panel of Venture Capitalists, but, because as a CEO, it gives me some insight into what makes a V.C. tick.
One company, JobLoft, is a job website similar to Voices.com. The difference is that they are a career-oriented website with a focus on the retail and food services industries. The investors, I mean "Dragon's" invested $200,000 for 50% of their company, primarily because of two technologies.
The first of these technologies was the inclusion of Google Maps. JobLoft integrates Google Maps into the search results to show the distance between their residence and the place of employment for the job seeker.
The second technology was job alerts via text message.
Both of these technologies are easily replicated, and, in my opinion don't represent a true "unfair advantage". They will need to continue to work hard to capture more of the market while simultaneously developing new technologies that are of a proprietary nature.
To JobLoft's credit, the website interface and user-experience is top-notch. Additionally, they now have a team of savvy investors working closely to ensure the best possible outcome.
For those reasons, I wish JobLoft the best moving forward.
Good luck!
Tags: dragons den, jobloft, venture capitalist, web 2.0
Comments
i would like to propose a deal, i need a proxy. i have an idea that will lesson labor and reduce possibility of injury. it comes in the form of a heated carpet. rubber backed with veins to allow melted snow to run off , astro turf style. the rubber backing allows the carpet to be glued to the step. it runs on low voltage ,so as to negate the possibility of shock. think of all the happy letter carriers, and the reduced number of injuries, reduced insurance costs, reduced insurance claims. mind you it's only an idea at this time, and no prototype has been built. if i have peaked your senses, please return my email............. respectfully John A Rothwell secretary treasurer rothwell automotive inc
Posted by: john rothwell | October 8, 2007 9:40 AM
Keep getting new and inventive guests. I vote for Water Bottler tonight.
Posted by: Don J Turner | October 22, 2007 11:03 PM