Friday, March 28, 2008

New Real Estate Web 2.0 product coming?

TechCrunch is reporting that a new team of Web developers operating under the name Glassdoor have taken $3 million in series B financing for a new venture that may be related to the real estate business. The company is still in stealth mode, according to the blog, but one member of the executive team may suggest that the offering, when it is eventually released, will be real estate related.

In addition to former executives from Expedia and Hotwire.com, Richard Barton, CEO of Zillow is in the C-suite.

One source cited by TechCrunch suggested that the new offering may have something to do with employment conditions in the market.

It is possible that the company name is a play on "revolving door." There are certainly enough displaced pros from Wall Street and the mortgage industry to make a company some money over the course of the next few years. The company is based in Sausalito, Calif. Any firm hoping to use social networks to help displaced professionals will have to do better than what's already available. For simple job searching, it's hard to do better than LinkedIn if you have a half-way decent network.

One idea that might work would be to provide a bit more transparency to allow job applicants to get a better idea of the viability of the company before they take a job. A glass door. Conjecture. I'll be interested to see what they come up with.

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