Softbank reveals first shareholder Jobandtalent shares as the giant Softbank reveals that it is the first shareholder of Jobandtalent with 15.5% of its shares after entering the startup in March with 100 million euros
The ecosystem Spanish startups dedicated to the field of work is focusing on the past few months several rounds of financing, sales and receipts of new shareholders that reflect the interest of the investors for this segment, as shown in the rounds made by Payflow in February and Jobandtalent in January, the 15 million euros raised by Factorial in full pandemic or the sale of Holded to the Norwegian firm Visma, among others.
In the case of Jobandtalent, closed at the beginning of the year a round of investment C series of 88 million euros, with the entry of the venture capital fund, French Infravia and returning to receive the support of investors already present in your shareholding, such as the european fund Atomico, the platform australian job Seek, which led its previous round of $ 70 million, the venture capital firm london-based DN Capital and the Spanish Kibo Ventures.
Just 2 months later, the working platform temporal Spanish announced a new round, which meant the entry of the technology giant japanese Softbank, which invested 100 million euros through his tool of investment in startups technology Vision Fund, a few days after confirming that he had received a credit of 83 million euros of the u.s. fund BlackRock. Thus, between January and March, Jobandtalent raised 270 million euros to finance its expansion.
In addition, this entry funding in the Spanish startup of temporary employment has changed the distribution of its ownership, in which Softbank is now the main shareholder with a 15.5%, exceeding the fund european Atomic, which has a 15%, and the platform jobs australia Seek, with a 14.4%, totaling between 3 almost 45% of the titles of Jobandtalent after investments received at the beginning of the year, according to The Information.
Softbank reveals first shareholder Jobandtalent shares
The rest of the capital city of Jobandtalent is split between the fund French Quadrille Capital, with a 6.9 per cent, the british DN Capital, with 6.8%, while Infravía, which led the round, January, features a 5.8%, a percentage similar to that control, the co-founders of the startup, Felipe Navñio and Juan Urdiales, in both the Spanish Kibo Ventures controls about 4%, the manager british Schroeders, with 1.8% and the investor Spanish FJ Labs, with 1.2%, according to the digital.
In addition, many investors and business angels have been incorporated in Jobandtalent in the last few months, as the family Corbera Serra, linked to Fluidra, the founder of Contactive or Pixable Iñeki Berenguer, the exresponsable of Google in Spain Javier Rodríguez Zapatero and co-founder of ISDI Ignacio Pinedo, with holdings of less than 0.1%, while international funds as Hermes GPE, Jo Fund or Mojo Digital feature with less than 1% of the shares, respectively.
Softbank reveals first shareholder Jobandtalent shares
In addition, Softbank's entry into Jobandtalent means valuing the Spanish startup at 650 million euros, according to the Information, which ensures that this valuation places it as one of the Spanish technology companies with venture capital investors that have the highest capitalization, and highlighting that the startup said it had closed 2020 with gross revenues of 500 million euros, which it must confirm in its presentation of results.
# Softbank reveals first shareholder Jobandtalent shares #
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Several franchises are organized to sue McDonald's after the sentence that gave the reason to another franchisee
McDonald's Spain is at stake in the courts the return of 30 million euros to its franchisees. The relationship between the fast food chain and the owners of the establishments is on a tightrope by the accusations of these breach of contract. And so far, one of them has won the first battle, which has sparked the interest of the rest.
The judge of the court of instruction 3 of Castellón, Elisa Martí, established last March that the logistic payments of the franchisees to their supplier, Havy Logistics, should be assumed by the American company. At that time, according to okdiario, the judge sentenced McDonald's to pay the affected 3.7 million euros.
The expert established the logistics cost of the franchisees at 10.12% with respect to their total turnover, and the judge endorsed this calculation.
Therefore, as reported by knowledgeable sources of the matter to Digital Economy, the amount that risks McDonald's, taking into account that the global turnover of all Spanish franchises is around 300 million annually, is the equivalent of 30 million euros.
Recently there have been 2 entrepreneurs who have denounced for breach of contract to the American firm, one in Castelló, which was the one who won the first round in the courts to the company, and another in Vinaroz, to which McDonald's closed its restaurant just two weeks ago, last July 15, after having put him on the ropes of the courts.
This establishment in the town of the Costa del Azahar was owned by businessman Luis Cañizares, who filed a lawsuit in April 2014 for breach of contract. It was partially estimated in 2016 and, since then, has led several legal actions against McDonald's by observing failures in its franchise agreements.
Cañizares has called into question obligations that were not defined in the contract and is leading a movement to mobilize those affected and to face McDonald's in court.
In fact, according to the same sources, a group of 8 franchisees are already considering taking legal action. There is even a recruitment of more restaurants by the law firm Cremades & Calvo Sotelo.
The Vinaroz businessman has caused the contractual relationship between McDonald's and its restaurant supplier, Havi Logistics, to be questioned.
This firm is the only one entitled to supply the fast food company's products to franchisees. However, according to the complainants, this obligation is not reflected in the contract.
If so, an entrepreneur with a Mcdonald's franchise is free to contract logistics distribution with the company you want. But in practice, they claim, it can only be done with Havy.
The judge determined that Havy and McDonald's are 2 companies that apparently have a relationship. Even so, both claimed that they had no shareholding relationship of any kind or agreement. Something that did not convince the judge, who determined that there was a key contract that was hidden.
According to the judge, Havy " is formally an independent company of McDonald's, but in practice, it operates following the guidelines of this, which is its main customer by far”.
In this way, according to the judgment to which the aforementioned newspaper had access, it is explained that, when the franchisee stopped paying McDonald's, this supplier stopped supplying promotional products to Cañizares by order of the United States multinational.
The company appealed this sentence, so the road in court will be long. And only in the event that more franchises decide to denounce and manage to win, despite the army of lawyers available to the American firm, it will be when McDonald's is forced to disburse in Spain 30 million euros.