If you’re a part-time worker, your options for finding a new job are slightly reduced. JobGet, a Boston startup that operates an hourly job search site with built-in social features like LinkedIn, is acquiring Snagajob, one of its competitors in the US market.
JobGet claims this will make it the largest jobs platform targeting 100 million part-time and frontline workers in the United States.
But to be clear, this is not the number of users. JobGet doesn’t disclose how many active users it has, other than to say it works with tens of thousands of customers and has helped secure millions of jobs. Snagajob says it has 3.6 million monthly active users and has filled 40,000 jobs from 14,000 employers.
Financial terms of the deal were not disclosed. But for some context, JobGet was last valued at $440 million in 2022, when it raised $52 million, according to PitchBook data. The database records that JobGet also raised some funds this month, an undisclosed amount, from Flow Capital, although this is disputed. We already knew about Flow and JobGet. In June this year, JobGet acquired a recruitment software provider called Wirkn, also in Flow’s portfolio, for an undisclosed sum.
Snagajob’s photo is a little blurrier. In its 25 years of operation (yes, since the first dot-com boom), the company has raised a whopping $387 million from investors including StarVest and Rho Ventures. However, PitchBook’s last valuation of $178 million was over 10 years ago, so it’s not at all clear how it relates to its current valuation.
The sale to JobGet is now likely to be part of the sector’s inevitable consolidation.
Over the past few years, we’ve seen a flurry of activity among tech companies to build social, recruiting, and management tools targeting hourly workers.
Both Microsoft’s Teams and the now-defunct Meta’s Workplace introduced their platforms as tools for salaried workers, in part to differentiate themselves from Slack. In addition, dozens of startups, including JobGet, have launched and raised tens of millions of dollars (recent examples: TeamBridge $28 million, Bandana $8.5 million, Fountain $85 million, Wagestream $175 million) targeting the front lines. , hourly worker opportunities.
This means the market is overcrowded and perhaps overcapitalized, especially at a time when the entire game is suddenly changing due to AI and funding for late-stage rounds is not as strong as it used to be.
This also means more companies joining together to get better scale for the technologies they are investing in.
JobGet is focused on social mechanisms, following the LinkedIn metaphor, and describes itself as built “to fit the needs of the TikTok generation.” One of its features is “JobGenie,” which has been likened to a For You page that uses AI and other tools to personalize job recommendations to users. We’ve also built instant interview scheduling and other features to speed up the time it takes to discover job openings and secure new positions.
“With access to resources on the JobGet platform, Snagajobs job seekers and employers will continue to enjoy industry-leading experiences and create meaningful employment connections,” added Keith Forshew, CEO of Snagajob. Snagajob’s users in particular seem to be a good fit for JobGet’s TikTok money transfers. Popular searches include numbers based on top 10 jobs.
“JobGet was founded to solve real, urgent needs – the challenges everyday workers face when they look for work and employers face when they find quality candidates,” said Tony Liu, founder and CEO of JobGet. “With Snagajob on our platform, we’re furthering our mission to help employers connect with quality candidates immediately and efficiently, while creating accessible pathways to employment for everyday workers.”
