WayUp is making its first acquisition — it’s shopping for the similarly centered Looksharp.
both companies have created job record websites for varsity students and contemporary graduates, but WayUp co-founder and CEO Liz Wessel (pictured above with Looksharp CEO Andrew Maguire) instructed me they’re complementary in a somewhat explicit manner.
the key, she stated, is search engine optimization — in any case, that’s the place job seekers usually start looking for alternatives. And while WayUp’s pupil profiles do neatly on Google (in some cases rating above LinkedIn), Wessel said Looksharp has higher website positioning relating to job listings.
for that reason — and because WayUp and Looksharp “had similar users but now not the same customers” — the 2 firms began discussing a partnership, which ultimately turned into a conversation a couple of that you can imagine acquisition.
“after I met with Liz and [co-founder JJ Fliegelman], we realized that both of our companies wanted to alter the best way students steady jobs, and how businesses find scholar skill,” Maguire stated in the acquisition unencumber. “considering the fact that we each imagine within the energy of establishing an instantaneous-to-consumer company, versus selling into universities or professors, we had been able to easily map out what a deeper partnership would seem like.”
WayUp isn’t disclosing the monetary terms of the deal. Looksharp had raised more than $ 10 million in funding from buyers, including 500 Startups, Artis Ventures, Kapor Capital and Subtraction Capital. WayUp, in the meantime, has raised just about $ 9 million.
Wessel stated the combined company can be integrating Looksharp into the WayUp platform over the direction of the following 12 months. as well as, five Looksharp workforce individuals (together with Maguire) will probably be becoming a member of, bringing WayUp’s complete headcount to greater than 50.
via the way in which, when you assume WayUp is handiest interested in search engine optimisation, Wessel also touted the corporate’s technology, which delivers personalized recommendations for jobs for which an applicant would actually be certified. That, she mentioned, is why 23 percent of WayUp applications end in an interview, compared to the trade average of 2 p.c.
“What we saw is, we know how you can match people with jobs, we simply want extra folks,” Wessel mentioned. “There are just a few ways to do this — one is search engine optimisation … that is going to expedite our increase.”
Featured picture: WayUp
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