Developer Auction is now called Hired
A year ago we launched Developer Auction out of our own frustration with hiring great engineering talent.
The problem was simple: it was hard to find great people that were looking for great opportunities. The consequences were existential: without great people, businesses were doomed. Companies resorted to “mass messaging” (ie spamming) to as broad a range of candidates as possible, which only exacerbated the issue as candidates filtered everything to spam. We figured that there had to be a better way to connect great talent with awesome opportunities.
Our solution was simple: make hiring efficient and effective through marketplace dynamics that foster transparency, communication and urgency. We’d charge companies almost ½ what they were paying agencies. Oh, and we’d take 20% of our fee and give it to the developer as our Good Karma bonus (™ pending).
The results were staggering. By placing a pool of engineers screened for both high quality and high intent in a time-based auction with vetted companies, we generated over $30,000,000 in job offers in just 14 days. Proof of concept achieved, we were on to something!
A year later we have some statistics that we are proud of:
- Over $500 million in offers have been extended in the marketplace
- An average of 2000-2500 potential candidates apply to join Developer Auction monthly
- 90% of approved candidates get at least one offer
- An approved candidate typically receives 5-15 offers
- Over 500 hand-selected and approved employers are using the marketplace to hire
- Over 75% of employers using Hired have been able to make a hire after talking to just 7 candidates, which they are able to do after contacting an average of just 19 people
- In July, our time-to-hire was 18 days (which is ⅓ of a typical agency)
Despite liberating a market, and charting exponential growth, we’ve fought two misconceptions. The first being that “auction” has a strong negative connotation associated with it – a feeding frenzy designed to drive up prices, where only the highest bidder wins. In fact, just the opposite is true. In over the past year, 87% of candidates have accepted jobs with someone OTHER than the highest bidder. Our marketplace is an opportunity discovery platform, a way to find opportunities that you may have never known about otherwise, not just a way to get a raise.
Second, the name Developer Auction implied our marketplace is only for developers. Awesome UX/UI Designers, Data Scientists, Project Managers and other in-demand tech talent were hesitant to create profiles on the site despite the marketplace having the exact companies looking to hire those specific skill-sets.
Today I’m thrilled to announce that Developer Auction is now Hired – A marketplace for not just developers, but for all tech talent to find the job of their dreams efficiently and on their terms. We strive to connect talent to the companies that are a right fit for them. Our mission is to make hiring, or getting hired, less painful.