Business Startup Looks To Change Hiring Practices
On behalf of The Law Office of Lynnette Ariathurai, A Professional Corporation posted in Business Formation & Planning on Monday, November 24, 2014.
The way people communicate nowadays is completely different than just a few decades ago. With smart phones, social media and all types of instant messaging systems and programs, people are more connected than ever before. This has had a tremendous impact on how people do business in California and in other states. One new business startup company is looking to improve business communications in the hiring process.
The new startup company, Take The Interview, just received $450,000 in startup capital from DAN Fund LLC. The new company has created a platform that enables firms to conduct hiring interviews online. The company's product features a one-way interviewing function that allows job applicants to submit video answers to questions written by the potential employer.
This transaction is DAN Fund's second investment in a startup company, which will now be a part of the investment firm's second fund. The firm's first investment in a startup was the company LevelEleven. The co-manager of the investment fund says that the firm decided to add their second startup venture to their portfolio based upon the startup company's large and well-known customers. The fund manager also noted that the startup company is experiencing growth at a rapid rate.
On the other hand, after receiving necessary startup capital, a new business startup company will also have to make sure its business plan is in compliance to the laws in California or in any other state. In this particular case, this could include legal contracts to be drafted for customers as well as any disclaimers related to the job applicants utilizing the new technology tools. Therefore, an understanding of the laws regulating technology, business and contract law will be essential.
Source: bizjournals.com, "DAN Fund II invests $450K in its second startup", Danielle Abril, Nov. 21, 2014