Heroes Jobs, a San Francisco-based startup that launched in 2018, has recently been acquired by JobGet, an hourly job marketplace startup. The acquisition came after Heroes Jobs realized that, without an abundance of venture funding, their business model would not be successful on its own. Despite having a signed term sheet for a Series A, continuing to raise venture funding as an independent company no longer made sense.
Not all startups are built for a billion-dollar exit or to grow as a stand-alone company. The appearance of easy-flowing subsequent funding likely led to the intense funding swell of the few years leading up to 2022. This is not to say all these companies are bad by any means! Many of them have customers, which proves that they’re building something people want; some businesses likely even have meaningful revenue.
Heroes Jobs launched in 2018 with the aim of creating a LinkedIn for Gen Z. The startup wanted to provide a more informal way for companies and potential employees to connect using video and making a platform that resembled TikTok. However, the company realized that their business model wouldn’t be successful on its own without an abundance of venture funding.
JobGet, on the other hand, has raised more than $50 million in venture funding and has acquired Heroes Jobs for an undisclosed amount. The acquisition will allow JobGet to expand its services and provide more opportunities for job seekers.
Heroes Jobs co-founder and CEO Cyriac Lefort said that the acquisition was the best decision for the company. “We realized that we were better off not alone,” he said. “Joining forces with JobGet will allow us to continue our mission of helping people find jobs while also providing more opportunities for growth and development.”
The acquisition is a testament to the importance of collaboration and the power of partnerships. Startups can benefit greatly from working together and leveraging each other’s strengths. By joining forces, Heroes Jobs and JobGet will be able to provide better services to their customers and create more opportunities for job seekers.
In today’s fast-paced business world, startups need to be agile and adaptable. They need to be able to pivot quickly and adjust their strategies as needed. Heroes Jobs realized that their original business model wasn’t sustainable and made the necessary changes to ensure their success.
The acquisition of Heroes Jobs by JobGet is a prime example of how startups can benefit from collaboration and partnerships. By working together, they can achieve greater success and provide better services to their customers. It’s an exciting time for the startup world, and we can’t wait to see what new partnerships and collaborations will emerge in the coming years.