Introduction:
Cloud-based HRMS suite platform. The platform gives instruments for planning interviews, finding candidates, conducting interviews, handling resumes, posting occupations, and more. Furthermore, it provides work searchers a work board stage to rummage around for positions according to their capabilities, zone of skill, work sort, pay scale, etc. We are discussing Wellfound Case Study, Company Profile, Founding Team, and Many More.
Company Highlights:
| Company Name | Wellfound |
| Headquarter | San Francisco, California |
| Industry | Job Portal |
| Founded | 2010 |
| Founder | Babak Nivi and Naval Ravikant |
| Website | https://wellfound.com/ |
About:
Wellfound is an online employment marketplace that connects IT enterprises and startups with job seekers. Candidates may look for openings on Wellfound’s job board by utilizing criteria such as abilities, career, work sort, area, pay, and more. It also provides devices for posting occupations, finding candidates, conducting interviews, dissecting resumes, and setting up interviews.
Industry:
It serves in the B2B SaaS space.
Founder and Team:
Its central station headquarters is in San Francisco, California, and it was made in 2010. At Wellfound, Babak Nivi and Maritime Ravikant are co-founders.
Startup Story:
Wellfound, a startup job search service (previously known as AngelList Talent), assists companies in discovering their next big idea. In November 2022, AngelList Talent separated from its parent firm, AngelList, and became Wellfound. The new name reflects Wellfound’s objective of assisting startups in discovering their next big thing.
Mission and Vision:
It’s goals are to provide access to clean water, equip youth with various skills, empower women and girls through women-led agriculture, provide toilet access, and inform communities about the significance of nutrition, health, and sanitation.
Name, Tagline, and Logo:
The slogan for Wellfound is “Where job seekers and startups connect.”
Business Model:
The foundation of Wellfound’s business strategy is a distinctive Local Community Group Buying Marketplace. It aims to unlock local communities’ numerous social and economic advantages. It creates businesses powered by technology. It uses a rev-share or part cash/part equity arrangement. Wellfound creates a thriving portfolio in addition to a successful “engine.”
- They assist ambitious startup entrepreneurs and provide them with the resources, personnel, knowledge, and scale they need to create highly successful technological firms using the Framework (Spark, Flash, Strike, Bolt).
- It builds its businesses and products using the money from the Create Framework, which it subsequently sells.
- Wellfound collaborates with established, profitable offline businesses that understand their need for technology to grow. We also benefit from their technological investment.
Revenue Model:
The revenue model of Wellfound, known initially as AngelList Talent, combines cash, stock, and rev-share. It’s business plan attempts to establish a lucrative portfolio and “engine” by partnering with startup entrepreneurs to build technology firms.
Products and Services:
Without intermediary recruiters, Wellfound enables job seekers to contact the founders of leading businesses directly. Additionally, it provides exclusive positions at tech businesses and startups that aren’t found anywhere else.
Funding and Investors:
- Through two rounds of funding, it has raised $24 million.
- The company’s most recent funding round was a $24 million Series B investment round on September 23, 2013.
- Ten investors took part in its most recent round, headed by Google Ventures.
- 35 institutional investors, including Kleiner Perkins, Google Ventures, and Atlas Venture, are part of Wellfound.
- It has two angel investors in addition to Yuri Milner.
Employees:
It employs 25–100 people.
Challenges Faced:
Due to changes in the employment market, Generation Z’s entry, and the economy’s health, startups faced particular hiring issues in 2023.
Acquisitions:
It has not yet made any acquisitions.
Growth:
Wellfound has overcome obstacles and prospered because of calculated measures like the Local Community Group Buying Marketplace and a robust revenue model that combines cash, equity, and rev-share. Investor confidence is bolstered by its latest $24 million Series B funding round, led by Google Ventures. It is redefining the job search platform environment with a committed team and a purpose to empower communities via technology. They are also creating connections essential to Partners.
The following companies are partners of Wellfound, formerly known as AngelList Talent: PDG Partners, Partners in Design, CoFound Partners, Product Hunt, Remote, Panther, and Deel.
Competitors:
Leading rivals of Wellfound are Slingshot, WebEaster, LearnOutLoud, AngelList, and Slingshot.
Awards and Achievements:
Wellfound’s artificial intelligence technology has won awards. Forbes listed the Company as one of the top 50 AI firms in 2022.
Future Plan:
Well found, formerly AngelList Talent, has a few plans:
- Financial platform: Provide small company owners with an adaptable financial platform.
- Future of work: Locate Indian startups and businesses to collaborate with on projects and talents
- Future professions: Make a weekly plan for yourself and work with a remote coach to monitor your progress.
- M-Future jobs: Contact hiring managers directly to learn about pay, equality, work-life balance, perks, benefits, and business culture.
FAQs
What does Wellfound do?
The site links job searchers with companies.
When was the Company founded?
It was established in 2010.
Who is the founder of Wellfound Corporation?
The founders are Babak Nivi and Naval Ravikant.
Who is the CEO of Wellfound Corporation?
At Wellfound, Amit Matani serves as CEO.
Who are the main competitors of Wellfound?
AngelList, Slingshot, and LearnOutLoud are the rivals.
Conclusion
Wellfound’s consistent dedication to enabling job seekers and entrepreneurs continues to guide it as it begins its journey of expansion and innovation. Thanks to a strong foundation, a clear strategic goal, and enthusiastic staff, the firm can maintain its successful trajectory in the constantly changing IT sector.
My experience is in interactive, digital and social media marketing techniques, strategies and tools in marketing, public relations, and media relations.
Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.