The investment that Simply Hired took from Fox Interactive seems to be paying dividends already. Tonight at 9 pm PST MySpace, a subsidiary of Fox Interactive, will unveil MySpace Careers, a new job site on MySpace powered by Simply Hired. This is interesting news mostly because of the massive traffic that the MySpace home page drives - and the new site has a link on that Myspace home page. No word on the deal terms, although I assume there is a revenue split based on the numerous advertisements MySpace is including on the new site.

Deals like this show the positive impact a corporate investor can have on a startup. Note that competitor Indeed took an investment from the New York Times last year, and they partially power the NYT online jobs search engine.

College career counselors and other experts say, some recruiters are looking up applicants on social networking sites like Facebook, MySpace, Xanga and Friendster, where college students often post risqué or teasing photographs and provocative comments about drinking, recreational drug use and sexual exploits in what some mistakenly believe is relative privacy.

Concerns have already been raised about these and other Internet sites, including their potential misuse by stalkers and students exposing their own misbehavior, for example by posting photographs of hazing by college sports teams. Add to the list of unintended consequences the new hurdles for the job search.