$5,000 for JobNow
Intro. This was one of the first online interviews for us. I was not yet sure whether we can invest at all, without seeing and "touching" the candidate. But after all everything went well and easy. You can watch it.
Product. JobNow is a job interview scheduling platform. When you need a contractor for a few hours (a waiter, a chef, or a cashier), just submit that position to the system and wait. Very soon, some candidates will apply and immediately schedule interviews. You won't need to select them, email them, or call them. They will just who up in your calendar and next day in your office. It's literally a "job right now" solution.
Market. They already have paying customers, according to Roberto. And that customers seem to be happy. I don't think this is entirely true, since the platform needs to have enough candidates to make paying customers happy. However, I was glad to see that Roberto has put the product on the market already and is not afraid of earning first dollars even with the system that is not yet fully implemented.
Competition. There are many platforms for job search, but there is nothing like JobNow. Well, according to my knowledge and Roberto's words. That makes this startups even more interesting.
Team. Roberto is a CEO, an architect and a programmer. That's the configuration I like most of all. Besides that, he's got a pretty successfull career as a photographer. This basically means that he can achieve something.
Cash and Investors. Roberto put his own money into this product. I was going to become the first investor. This is basically was the only negative thing in this deal. Roberto was obviously not fully prepared for raising more money. But he had to be! I strongly adviced him to focus on that in the next few months. We'll see how he will manage that.
Right after the interview I prepared SAFE for Roberto, emailed it to him and got his electronic signature. Then, sent him a $5,000 wire transfer. We're partners!
2016-04-12 00:00:00 +0000