Joberty’s issue with revenue decline
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Joberty is a workplace community for IT developers. It is a combination of an employer review and job posting site. It focuses on the IT community and offers developers an opportunity to review companies, search for IT jobs, and join community discussions.
The company’s HQ are based in Serbia, Europe, but the company operates in the Central and Eastern European region (e.g. Serbia, Croatia, Slovenia, Hungary, Romania, Bulgaria).
Joberty represents one of the significant startup successes in the regions growing rapidly in reach and member sign ups since the site was launched in public in 2019. Comparable companies would be Glassdoor, Indeed, LinkedIn, etc.
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Type: Early startup
Funding: Pre-seed round in 2021 of $350,000; currently raising Series A (Aug 2023)
# of Employees: 10-50
Ownership: Private
Active users: 20,000 / month
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Joberty experienced revenue decline as a result of Covid. During and post Covid, less hiring meant less job postings, hence less revenue was generated.
This also exposed one of the weaknesses of the company (which has also been a cause of investor concern) - one revenue stream.
The company recognised the issue and the need to solve this problem, but as they were unable to solve internally, they reached out to us, [DataBlooz].
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As a part of our solution offering to help Joberty increase the value and breadth of their services, and thus help diversify their revenue stream, we identified the following 3 key initiatives that we would help with, and their timelines:
Develop and implement into the existing site a matching algorithm between companies and applicants (est. time effort 2 months, immediate kickoff)
Development and implementation of a recommendation system for jobs (est. time effort 2 months, late 2023 kickoff)
Development and implementation of a recommendation system for content (est. time effort and timeline TBD)
This was all included in the Data Strategy Package.
