Minnetonka startup Jobs2Web acquired by SuccessFactors for $110m cash



Via News Release

“SAN MATEO, Calif., Dec. 6, 2011  SuccessFactors, Inc. (NYSE: SFSF), the global leader in business execution cloud-based software, today announced a definitive agreement to acquire Jobs2web, the leading recruiting marketing platform, delivering the first-ever Recruiting Execution Platform.

Jobs2web is renowned in the recruiting industry for its unique ability to “turbocharge” any Applicant Tracking System (ATS) and attract the very best candidates through social networks. By creating superb recruiting experiences for hiring managers as well as candidates, companies can save time and money, foster engaged communities, and enhance their brand reputation.”

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Jobs2Web was founded in 2003 by Doug Berg, led by CEO (and investor) Ken Holec.  The firm had raised ~$7m in private capital and reported $9.9m rev in 2010, their 2nd year on Inc. 500.   It is expected that “most members of the senior management team will remain involved with Jobs2web,” and the 100+ employee count will likely increase.