The originators of online job board CareerBuilder.com are launching a new company today that will compete with their old firm and take a slightly different approach to the process of connecting employers and job seekers through the Web.
Rob McGovern, who founded CareerBuilder a decade ago and then sold it in 2000, rehired almost two dozen of his former employees when he established Mkt10, the new McLean firm, in March 2004. The company (pronounced M-K-T ten) has been in development mode since then.
McGovern says Mkt10's main innovation is a system that narrows the pool of candidates for recruiters. Job seekers are asked to fill out a lengthy questionnaire, and then Mkt10 develops profiles about their skills, location, job preferences and salary requirements. Candidates get a one-to-10 score based on how well they fit the criteria of a particular position. Corporate recruiters receive information only about those job seekers who match the company's needs.
Similar to other sites, Mkt10 will not charge job seekers to use the system. Employers will pay a $2,000 fee every time they hire a candidate through the site.
McGovern was one of the pioneers of the online job industry when he founded CareerBuilder in 1995. That firm, formerly based in Reston, was sold in July 2000 to newspaper chains Knight Ridder Inc. and Tribune Co. for about $250 million, and McGovern left in 2002. He founded Mkt10 -- the name is derived from the word "market," plus a 10 from the rating scale -- days after his non-compete agreement expired.
For the past couple of months, the company, which landed $7 million in venture funding led by New Enterprise Associates, has been in tests with local companies such as Discovery Communications Inc. and MCI Inc. Mkt10's launch today is focused on the Washington area, and McGovern said the system will be rolled out to the rest of the country by the end of the year.