A Boston company called JobGet is buying Snagajob, one of its competitors in the U.S. market
JobGet is an hourly job-search site with built-in social features, like LinkedIn.There are fewer main ways for hourly workers to find new jobs these days.
JobGet says this will make it the biggest work-from-home and hourly job site in the U.S., reaching 100 million people.
Just to be clear, that’s not the number of people who use it: JobGet doesn’t say how many current users it has, but it does say that it has helped millions of people find jobs and works with tens of thousands of customers. Snagajob says that 3.6 million people use it every month and that it has helped 14,000 companies fill 40,000 jobs.
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It is not being said how much the deal is worth. To give you some background, JobGet was last valued at $440 million by PitchBook when it raised $52 million in 2022.
According to the database, it also raised some money this month from Flow Capital, but JobGet doesn’t agree with this. Flow and JobGet already knew each other. In June of this year, JobGet bought Wirkn, a recruiting software provider owned by Flow, for an unknown amount.
For Snagajob, things are a little less clear. The company had raised $387 million from backers such as StarVest and Rho Ventures. It had been around for 25 years until the first dot-com boom. What does that have to do with what it’s worth now? The last time it was valued on PitchBook was at $178 million ten years ago.
It’s likely because of the inevitable consolidation in the area, which is why it sold to JobGet.
There has been a lot of action in the last few years among tech companies to make social, hiring, and management tools for hourly workers.
Teams from Microsoft and Workplace from Meta, which are no longer available, both marketed their services as tools for paid workers, partly to set themselves apart from Slack. Additionally, dozens of startups, such as JobGet, have launched and raised millions of dollars to target the frontline, waged, and hourly worker opportunity.
For example, TeamBridge raised $28 million, Bandana raised $8.5 million, Fountain raised $85 million, and Wagestream raised $175 million.
That means the market is too busy and probably has too much money. This is especially true now when AI could change the game overnight, and funding for later stages isn’t as strong as it used to be.
That also means more businesses will join forces to get a better scale for the tech they’re spending on.
To keep with the LinkedIn theme, JobGet focuses on social features and says it was created “for the needs of the TikTok generation.” It has a feature called “JobGenie” that uses AI and other tools to hand-pick jobs for each user. It compares it to a “For You” page. Instant interview schedules and other features have also been built to reduce the time it takes to find a job opening and get the job.
“With access to JobGet’s resources, Snagajobs job seekers and employers will continue to have the best experience possible and make real connections that lead to jobs,” said Keith Forshew, CEO of Snagajob. Notably, the people who use Snagajob seem to be a good fit for JobGet’s TikTok mission. Some of the most popular searches on it are about jobs for teens.
“JobGet was created to meet a real and urgent need: the difficulty that regular people have in finding jobs and the difficulty that employers have in finding qualified candidates,” said Tony Liu, founder and CEO of JobGet, in a statement. “By adding Snagajob to our platform, we are furthering our mission to make it easier for regular people to find jobs and for employers to connect with qualified candidates instantly and efficiently.”
