Founded in 2008 byMIT Sloan alumni and a product of NextLab and Development Ventures at the MIT Media Lab , Assured Labor enables mid-to-low wage workers in emerging markets to connect with job opportunities using their mobile phones. The disruptive service drives efficiency and transparency into labor markets around the world. The service, named EmpleoListo, is currently running in Latin America in partnership with the regions largest wireless carrier. The management team consists of mobile, media, software, marketing, labor policy and start-up experts from MIT and Harvard. The venture backed company launched its Latin American brand EmpleoListo.com in the Fall of 2009.
Having already established themselves in Nicaragua and currently expanding in Mexio, the company recently raised a Series A round in April 2010 from multiple prestigious angel investors (including the former CEO of skype and CEO of OLX.com) and two venture funds (Nexus Venture Partners and Kima Ventures).
For his Summer 2010 internship, David Auerbach (MBA 2011) worked at IGNIA Partners based in Monterrey, Mexico where he worked on metrics and evaluation of social and environmental Impact as well as conducting due diligence and financial valuations on potential entrepreneurs to invest in. This is his report from the field.
IGNIA is an impact investing venture capital investment firm that supports high growth social enterprises that serve the base of the socio-economic pyramid in Latin America. By providing effective responses to the enormously under-served needs of low income populations, both as consumers as well as active participants in productive value chains, IGNIA empowers entrepreneurship and generates social impact while creating attractive financial returns for its investors.
I sat in the front row of Paul Asquith’s Introduction to Corporate Finance class because, more than anything, I thought his emphatic declarations around the “art of finance” would be more likely to stick in my brain. Strategy…Valuation…Execution. What’s the market? Cash is King. Question assumptions. The numbers don’t lie, people! Learn these rules, love these rules.