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1 of 17
HOW HIRED.COM STARTED A
FAST-GROWING CAREERS
MARKETPLACE
PHASE 1: IDEA AND MVP
1.1 IDENTIFIED A BIG PAIN POINT
• Their entrepreneur friends were very frustrated: “can’t find good people to hire!”
• Spending a lot ($$$) on existing solutions (e.g. recruiters, attending events)
• Yet not happy with results 
• => Opportunity!
1.2 BUILT AN MVP
• Matt created wireframes, landing pages, ad copy, emails
• CTO friend built simple first version
• DeveloperAuction.com
PHASE 2: GOT FIRST USERS
2.1 FOCUSED TIGHTLY EARLY ON
• Supply-side:
• Developers only
• Candidates from 5-6 companies only (Google, Facebook, Twitter, …)
• Demand-side:
• VC-backed Silicon Valley companies only
• Focus => Easier to get liquidity with small amount of supply & demand
2.2 USED EMAIL TO GET
INITIAL CANDIDATES
• Emailed engineers with tempting (and novel) offer:
• “find out how much you are worth”
• “have companies trying to hire you with transparency up-front”
2.3 USED EMAIL TO GET INITIAL
HIRING COMPANIES
• 1. Emailed potential hiring companies directly
• Poor response rate – didn’t work 
• 2. Got investor friends to email companies in their portfolios
• This worked! 
PHASE 3: GROWTH
3.1 DEVELOPED AN INNOVATIVE,
DIFFERENTIATED SOLUTION
• Provided upfront transparency to candidates about the compensation they could
receive if hired.
3.2 BOOSTED LIQUIDITY BY
INTRODUCING URGENCY
• Started presenting batches of candidates to hiring companies for limited two week
periods:
• gave prospective employers a reason to take action
• meant that strong candidates could end up with multiple offers on the table at the same
time, allowing them to compare offers better
3.3 INVESTED IN BRAND
• Spent $10k to $20k on a branding/naming consultancy
• Spent around $125,000 on domain name Hired.com
3.4 FOCUSED ON SUPPLY-SIDE
• For first 3 years…
• Focused almost all their resources on attracting and improving the experience for
candidates
• (knowing that with the right candidates, prospective employers would follow)
3.5 USED FEEDBACK, EXPERIMENTATION
AND DATA TO IMPROVE PROCESS
• Talk to lots of customers and run user research feedback sessions
• Test new approaches (some which work, some which don’t)
• Very data-driven (data team, make data available to entire company)
CONCLUSIONS
CONCLUSIONS
• Identified a big pain point.
• Focused tightly to get initial liquidity
• Achieved growth by building one side of the marketplace -- attracted the other side
for free
THANKS!
• Find out more: http://www.mattcollins.net/

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How Hired.com Started a Fast-Growing Careers Marketplace

  • 1. HOW HIRED.COM STARTED A FAST-GROWING CAREERS MARKETPLACE
  • 2. PHASE 1: IDEA AND MVP
  • 3. 1.1 IDENTIFIED A BIG PAIN POINT • Their entrepreneur friends were very frustrated: “can’t find good people to hire!” • Spending a lot ($$$) on existing solutions (e.g. recruiters, attending events) • Yet not happy with results  • => Opportunity!
  • 4. 1.2 BUILT AN MVP • Matt created wireframes, landing pages, ad copy, emails • CTO friend built simple first version • DeveloperAuction.com
  • 5. PHASE 2: GOT FIRST USERS
  • 6. 2.1 FOCUSED TIGHTLY EARLY ON • Supply-side: • Developers only • Candidates from 5-6 companies only (Google, Facebook, Twitter, …) • Demand-side: • VC-backed Silicon Valley companies only • Focus => Easier to get liquidity with small amount of supply & demand
  • 7. 2.2 USED EMAIL TO GET INITIAL CANDIDATES • Emailed engineers with tempting (and novel) offer: • “find out how much you are worth” • “have companies trying to hire you with transparency up-front”
  • 8. 2.3 USED EMAIL TO GET INITIAL HIRING COMPANIES • 1. Emailed potential hiring companies directly • Poor response rate – didn’t work  • 2. Got investor friends to email companies in their portfolios • This worked! 
  • 10. 3.1 DEVELOPED AN INNOVATIVE, DIFFERENTIATED SOLUTION • Provided upfront transparency to candidates about the compensation they could receive if hired.
  • 11. 3.2 BOOSTED LIQUIDITY BY INTRODUCING URGENCY • Started presenting batches of candidates to hiring companies for limited two week periods: • gave prospective employers a reason to take action • meant that strong candidates could end up with multiple offers on the table at the same time, allowing them to compare offers better
  • 12. 3.3 INVESTED IN BRAND • Spent $10k to $20k on a branding/naming consultancy • Spent around $125,000 on domain name Hired.com
  • 13. 3.4 FOCUSED ON SUPPLY-SIDE • For first 3 years… • Focused almost all their resources on attracting and improving the experience for candidates • (knowing that with the right candidates, prospective employers would follow)
  • 14. 3.5 USED FEEDBACK, EXPERIMENTATION AND DATA TO IMPROVE PROCESS • Talk to lots of customers and run user research feedback sessions • Test new approaches (some which work, some which don’t) • Very data-driven (data team, make data available to entire company)
  • 16. CONCLUSIONS • Identified a big pain point. • Focused tightly to get initial liquidity • Achieved growth by building one side of the marketplace -- attracted the other side for free
  • 17. THANKS! • Find out more: http://www.mattcollins.net/