Workable & Wonolo GET PAID!

Workable & Wonolo GET PAID!

It’s The Shred – a mini-Chad and Cheese bite of Breaking News — This is Chad Sowash

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On to the NEWS..

The market is tanking BUT venture money is still flowing…

WORKABLE – touted flexible, global, easy-to-use hiring software for the SMB market just hauled in $50m simoleans from private equity firm Zourk Capital, based in London for all of you start-ups looking to knock on doors…

How does Workable – an SMB Recruitment Platform / ATS – get someone to invest $50m? Note: Total investment is close to 90m…

Six years in business, 20,000 customers and 50 million candidates for starters and…

Workable’s blog states “There are several million SMBs in the world, and they do 70% of all hiring worldwide.” That’s a damned good start to a pitch…

Oh you want more?

How about Workable’s candidate REACH which has expanded to a network of more than 180 job sites, plus partnerships with LinkedIn and Indeed, and job syndication with Google and Facebook doesn’t hurt a bit. 

But Chad we want AI and Machine Learning – well guess what.

Workable (like most of us) believes machines are better than humans at sourcing, as evidence from their blog – You’ll like using Workable “Unless you really think that a junior recruiter spending as little as six seconds per resume will not be outdone by a computer who has observed millions of human decisions and hiring outcomes.” That’s Workable sarcasm folks. 

and I agree machines are better, but I’m not in the “observing dumb biased humans” camp with Workable. It sounds like a new wave biased Amazon algo centered on stupid human hiring tricks.

ANYWAY… What about competition like ZipRecruiter. SMB-focused and more than just your run-of-the-mill job board (cough) MONSTER (cough)… You know Zip has to have way more than 50 million candidate profiles and their reach is much larger, Better AI-matching, plus you know they are already in the lite ATS for SMB market already anyway. Or what about a little company called Google who launched Hire by Google and already has 3 million companies in G Suite?

I know, I know, there’s plenty of SMB’s to go around AND those Google, Zip and even Facebook’s play really just validates the Workable platform. – Well DUH they just received $50m…..

— BUT WAIT THERE’S MORE —

On demand STAFFING is HOTT!

Well apparently, it’s hot enough for Wonaloo, ONE-a-low OH HELL ONE-NO-LOW… to pull IN $32m of Venture from Bain Capital and DAG Ventures, which brings their total to nearly $53m via Crunchbase.

Why does a company with such a bad name deserve $32m additional dollars? Simple, the market has exploded with need for on-demand temp workers. Won-NO-Lo boasts no upfront cost and average time-to-fill in 4 minutes… I’m going to say that again – Average time to fill is — 4 FUCKING minutes…. That’s ridiculous and awesome at the same time.

It sounds like we are finally approaching the UBER for Temp Jobs app that Joel and I have been waiting for in the ONE-No-Lo app…

Wonolo caters to the unemployed, the underemployed, and “the ones looking for flexible work with jobs mainly in fulfillment, distribution, and logistics. Wonolo currently operates in eight main markets: Northern California, Southern California, New York, Chicago, Southern Florida, and Nashville.

In a VentureBeat article COO AJ Brustein declined to give revenue specifics, only to say that Wonolo’s revenue “well more than doubled” over the past year. The company was founded in 2014 and has 70 employees, including 12 sales people in its recently established “second headquarters” in Nashville.

But does Wonolo has a chance in competing with Uber’s infrastructure and workforce. Well, Lyft still seems to be kicking — so — yeah…

I just hope they have enough money to change their crappy name….

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SOWASH OUT!