I had the good fortune of chatting it up with a pal of mine – Chuck Taylor, CEO of Doostang. Among other things, I had to know what was up with that name! These are the highlights of our talk.
So tell me, what is Doostang?
Doostang is an exclusive talent network that connects the most talented young professionals with the most prestigious jobs.
What does the word Doostang mean? Why did you pick that name for the company? (I gotta know)
Doostang is derived from Latin “Dos”means talent and “Tango” is the verb to reach for, hence the name of the company means “Reaching for Talent” which is what Doostang really stands for.
When and where was Doostang founded?
Doostang was founded at Stanford University in Summer, 2005 in Palo Alto, CA. Our site launched in Summer, 2006.
How is Doostang funded?
Doostang is venture and angel funded. Our first angel investor and Chairman of Board is Andy Rachleff, Co-Founder of Benchmark Capital. Our Venture investor is Jason Pressman from Shasta Ventures. Other angel investors include Mark Leslie (Former CEO Veritas) and Michael Dearing (Former Head of Product, eBay) who are both also board members.
What is Doostang’s target market (users and advertisers)?
Users: Students and recent graduates of elite universities, colleges and graduate schools, both domestic and international.
Advertisers: Prestigious employers such as Goldman Sachs, Google and Ogilvy, who seek only the most talented candidates for their positions. Doostang features employers in multiple industry verticals, but specializes in financial services and management consulting.
How many users and advertisers does Doostang have? How many jobs?
We currently have over 500,000 members, increasing by several thousand every month. Over 5,000 employers have actively recruited from our network, and we currently feature over 25,000 job opportunities.
Does Doostang have any strategic partnerships?
Doostang is currently partnered with several prestigious MBA programs, including Wharton, Duke Fuqua, Cornell Johnson, Virginia Darden, Stanford, Berkeley Haas, Northwestern Kellogg, and INSEAD. Our partnerships enable MBA career centers to offer their students special access to Doostang at a preferred discount.
What is Doostang’s value proposition?
Doostang helps our members find the jobs they want quickly. We screen millions of job opportunities, and expose only the most desirable ones to our members. We reject agency recruiter positions, helping our members connect directly with employers, and in many cases the hiring manager. Furthermore, we offer collaborative filters to help our members see which employers are most responsive to applications from people like them. Finally, we highlight inside connections within our network who might be able to help them our members get a job they are interested in.
Doostang helps prestigious employers reach the best candidates for jobs that require an elite academic/employment pedigree. Employers can post their jobs through Doostang, and hiring managers can join the network directly to interact with our members.
What is your business/revenue model?
We currently allow employers to post jobs to our network for free. We charge our members a small monthly fee to access our Premium Job content, which is a collection of our highest quality and most desirable jobs.
What is Doostang’s revenue? Are you guys going public this year?
We are still early stage (annual sales less than five million dollars), but growing rapidly.
How is Doostang different than other professional networks, like Linked In? (I know you hear that a lot.)
We are not just a networking website – our main focus is connecting great people with great jobs, so our networking functionality specifically facilitates job search. Also, our users tend not to have a large professional network of their own, so we help them connect with fellow college/company alumni for assistance, even if they have no previous relationship with those individuals.
How is Doostang different than other subscription job boards, like TheLadders?
We target a much younger and more elite demographic – students and recent grads of top universities, colleges and business schools, and we feature only the most prestigious jobs to our members.
What is Doostang’s future growth strategy?
We plan to continue our rapid organic growth, supplemented by strategic partnerships with leading graduate schools and professional organizations.
Want more Chuck? Here is more info about him. If you plan on reaching out to him, be sure to tell him I said “hello.”
Chief Executive Officer
chuck at doostang.com
Chuck has four years of experience building innovative Web 2.0-enabled career advancement services and has been frequently quoted in articles about the future of online recruiting. At Doostang, Chuck is responsible for bringing to fruition the Founders’ vision of creating the world’s largest elite talent network. Chuck joined Doostang in 2008 from Affinity Circles, where he was responsible for all marketing and business development activities. Prior to joining Affinity Circles, he was director of product marketing for Yahoo!, where he had product P&L responsibility for HotJobs, a $100+ million Yahoo! property serving the online recruitment advertising market. He also worked as a product manager for Progressive Insurance, where he ran a watercraft insurance business with over $7 billion in assets insured. As an operations manager for Procter & Gamble, he boosted manufacturing capacity and return on capital assets within the company’s consumer paper products division. Taylor earned his Bachelor of Science and Master of Engineering degrees in Operations Research and Industrial Engineering from Cornell University, and his Master of Business Administration from Harvard Business School. He resides in the San Francisco bay area.