Heroes Jobs was recently acquired after realizing that his company wasn’t just better off
Not all startups are built for a billion dollar exit – or even to grow as a standalone company.
The appearance of easy-flowing follow-up funding probably led to the intense funding boom of the few years leading up to 2022. This isn’t to say that all of these companies are bad in any way! Many of them have customers, which proves they’re building something people want; some companies probably even have a decent turnover.
On the other hand, some of them will realize that their business model won’t be successful on its own without an abundance of venture capital, and they need to come up with a new plan. Heroes Jobs was one of them.
The San Francisco-based startup launched in 2018 to create a LinkedIn for Gen Z: a more casual way for companies and potential employees to connect through video and create a platform similar to TikTok . The company just announced it has been acquired for an undisclosed sum by JobGet, a job market startup that has raised more than $50 million in venture capital every hour.
Cyriac Lefort, co-founder and CEO of Heroes Jobs, said that despite the company having a signed term sheet for a Series A, it no longer makes sense to raise venture capital as an independent company.
