JobGet Acquires Rival Snagajob in Move to Dominate Hourly Worker Market

As an hourly worker, finding new job opportunities can be a daunting task. However, with the acquisition of Snagajob by JobGet, a Boston-based startup that operates an hourly job-hunting site with social features built-in, the number of options for finding jobs has just increased significantly. JobGet claims this will make it the largest job platform targeting hourly and frontline workers in the U.S., covering 100 million people.

Table of Contents

JobGet: A Platform Born Out of Necessity

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. The company’s mission is to create accessible pathways to employment for everyday workers while empowering employers to connect with quality candidates instantly and efficiently.

Snagajob: A 25-Year-Old Company with a Strong Presence

Snagajob, on the other hand, has been around for 25 years (yes, dating back to the first dot-com boom) and had raised a whopping $387 million in total from investors that include StarVest and Rho Ventures. However, its last valuation of $178 million on PitchBook dates from a decade back, so it’s not clear how that relates to its worth today.

The Acquisition: A Consolidation in the Market

The acquisition is likely a part of the inevitable consolidation in the space. In the last several years, we’ve seen a flurry of activity among tech companies building social, recruitment, and management tools targeting hourly workers. Both Microsoft Teams and Meta’s now-defunct Workplace have been pitched as tools for waged workers, partly to differentiate themselves from Slack.

A Crowded Market with Over-Capitalization

The market is overcrowded, and probably over-capitalized, especially at a time when suddenly the whole game may be changing with AI. Funding for later-stage startups is just not as robust as it used to be. This means more companies are combining to get better scale around the technology they are investing in.

JobGet’s Features: A ‘For You’ Page and More

JobGet claims to have social mechanics, describing itself as built ‘for the needs of the TikTok generation.’ One of its features is ‘JobGenie,’ which it likens to a ‘For You’ page that uses AI and other tools to personalize job recommendations for users. It also has built instant interview scheduling and other features to cut down the time between discovering an opening and securing a new position.

Impact on Snagajob’s Users

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 it easier for them to find jobs. The acquisition is expected to benefit both companies, creating a stronger player in the market.

The Future of JobSearch

With the acquisition of Snagajob by JobGet, we can expect to see a significant change in the way hourly workers search for jobs. The platform’s social features and AI-powered job recommendations will make it easier for workers to find relevant job openings and apply with confidence.

Conclusion

The acquisition of Snagajob by JobGet is a significant development in the hourly job market, creating a dominant player that will make it easier for workers to find jobs. As the market continues to evolve, we can expect to see more consolidation and innovation from companies like JobGet and Snagajob.

Sign up for TechCrunch Daily News

Get the best of TechCrunch’s coverage, delivered every weekday and Sunday. Add TechCrunch Daily News to your subscription choices.

Stay ahead in the industry with TechCrunch AI and Space newsletters

TechCrunch’s AI experts cover the latest news in the fast-moving field. Add TechCrunch AI to your subscription choices. Every Monday, gets you up to speed on the latest advances in aerospace. Add TechCrunch Space to your subscription choices.