Jobfox Gets a Loan

Jobfox logoSanta came a day early for Jobfox. The job matching service got a $2 million   infusion the day before Christmas. It’s debt funding, which means what it sounds like: it’s a loan.

ERE community member Michaela Prebbleton was the first to notice and posted a comment to an article about the first loan the company got last summer. According to a filing with the Securities and Exchange Commission, Jobfox got $3 million in debt financing just six months before this latest round.

There’s an indication in the financing that warrants or options or both may have been part of the deal. More important, though, is what the borrowing is all about.

Could be the Jobfox founders don’t want to give up any more shares in the company, or the economy has made investors especially cautious.

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Jobfox has already gone through three rounds of VC funding, getting a total of $40 million for the service founded by former CareerBuilder founder and CEO Robert McGovern. So between the VC investments and the borrowing, the company’s total of $45 million rivals the $55 million that was poured into Jobster.

I emailed Jobfox’ VP of Marketing Steven Toole this morning asking about the financing and what plans the company had for it. Haven’t heard yet, but Steven may very well post some details yet.

John Zappe is the editor of TLNT.com and a contributing editor of ERE.net. John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

Besides writing for ERE, John consults with staffing firms and employment agencies, providing content and managing their social media programs. He also works with organizations and businesses to assist with audience development and marketing. In his spare time  he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.

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