RealTime IT News

Jobnet Creates Big Profit

[Sydney, AUSTRALIA] Job search Web Site, Jobnet has generated $1 million in profit for the 1999/00 financial year on revenues of $3.5 million, leading the company to claim it has doubled its profits every year since launching in 1995.

Kim Scott, founder and managing director at Jobnet, believes the recent addition of online services is responsible for the profit.

"The best way to become successful is to invest in products and services that help make their customers successful," said Jobnet Founder and Managing Director, Kim Scott.

"Too many people mistakenly believe that before an Internet company can be expected to generate revenue, it must first go through severe cash-burn as it spends up big on brand-building and hype-generation."

"The truth, however, is that it is possible to create a dot-com business that makes money virtually from the start," Scott said.

A specialist in the Information Technology/Computer industry, Jobnet has funded several other Internet companies this year, their stategies helping to create profit for three startups within the first six months.

"The only company worth investing in is one with a solid business model based on traditional fundamentals," said Mr. Scott.

"Too many of today's Internet-based companies are relying more on the wizardry of marketing for their success than on the ability of their products to add value to customers. Until the businesses and their investors wake up to this the dot-com cemetary is going to keep getting bigger."

Before the end of the year, Jobnet will introduce new products and services designed to help recruitment agencies reduce operating costs, lift efficiency and become more profitable.