Boston-based startup JobGet has announced its acquisition of Snagajob, a rival in the U.S. market. This move positions JobGet as the premier job platform for hourly and frontline workers across the United States, reaching an audience of 100 million individuals. The acquisition is a significant step for JobGet, which operates a job-hunting site similar to LinkedIn but tailored for hourly workers, complete with social features that cater to the needs of the modern workforce.
Snagajob, a well-established entity in the job market, boasts 3.6 million monthly active users and has facilitated the employment of 40,000 positions across 14,000 employers. This acquisition aligns with JobGet’s mission to provide accessible pathways to employment while enabling employers to connect with quality candidates efficiently.
“JobGet was founded to address a real, urgent need: the challenge that everyday workers face in finding jobs and that employers face in finding quality candidates,” – Tony Liu, founder and CEO of JobGet
Founded during the first dot-com boom 25 years ago, Snagajob brings a wealth of experience and a dedicated user base to JobGet. This integration will enhance JobGet’s offerings, allowing it to leverage Snagajob’s existing user base and incorporate its trending job searches, many of which cater to teenagers, into their platform.
JobGet’s focus on social mechanics distinguishes it from competitors. Described as “built for the needs of the TikTok generation,” JobGet incorporates features like “JobGenie,” an AI-powered tool that personalizes job recommendations for users. The synergy between Snagajob’s user demographics and JobGet’s innovative platform is expected to create a seamless experience for job seekers and employers alike.
“With access to the resources on JobGet’s platform, Snagajob’s job seekers and employers will continue to have a best-in-class experience and make meaningful employment connections,” – Keith Forshew, CEO of Snagajob
The acquisition comes at a time when the industry is witnessing inevitable consolidation. JobGet continues to expand its influence, having recently acquired recruiting software provider Wirkn from Flow’s portfolio in June. This acquisition strategy underscores JobGet’s commitment to broadening its scope and enhancing its service offerings for everyday workers.
JobGet’s financial backing plays a critical role in its expansion efforts. To date, the company has raised an impressive $387 million from investors including StarVest and Rho Ventures. In contrast, Snagajob’s last valuation was $178 million, recorded a decade ago according to PitchBook, leaving its current market value somewhat ambiguous.
“With Snagajob as part of our platform, we are furthering our mission to create accessible pathways to employment for everyday workers while empowering employers to connect with quality candidates instantly and efficiently.” – Tony Liu, founder and CEO of JobGet
Featured image courtesy of Richmond BizSense
