What Happened to JobLoft?
So what happened to JobLoft on the Dragon’s Den show last night? Well, just as the deal was entering its final stages and a certified check for $200,000 was about to be handed over to the four young entrepreneurs, the company decided to bring in its advisor, Ryerson professor James Norrie, who spend 12 minutes belittling the Dragons about their educations and the decision to focus on employers rather than job-seekers. What he’s really pissed off about his the valuation - 50% of JobLoft for $200,000. Caught by surprise by Norrie’s involvement, the Dragons get pissed off and, in the end, tear up the check - all of this happening as the cameras are rolling. Rick Spence has all the details about what went down. JobLoft’s side of the story - they’re still happy despite what happened - can be found here. The video clip of JobLoft’s acrimonious meeting with the Dragon Den’s investors is here.
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POSTED IN: Entrepreneurs, Venture Capital
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