I think one of the most important differentiation of a traditional company vs 'startup' company is the culture. And in order to understand the culture, you'd have to research each individual company, which this service doesn't seem to offer.

The students may be better served if there was a list of tags/terms for the all the companies so the students can go through them and check/tick the ones they want to apply to. Shotgun mass spam doesn't ensure a cultural fit.

(Should +100 (for how many people in the company) even be an option? Is a company still a startup at that point?)