Jul 5, 2016

Snagajob CEO Peter Harrison said the company is still looking for more acquisitions. courtesy of Snagajob Following its purchase of PeopleMatter late last month, Arlington-based Snagajob remains on the hunt for more acquisitions — and a new office. “We are a company that is doing this thoughtfully and not being restless,” Snagajob CEO Peter Harrison said in an interview. “We absolutely have a war chest and are going to continue to be acquisitive.” Snagajob CEO Peter Harrison said the company is still looking for more acquisitions. courtesy of Snagajob The growth comes after Snagajob, one of the leading platforms for connecting hourly employees with employers, secured $100 million in funding in Feburary. Harrison said the acquisition of PeopleMatter, which will retain its distinct branding, will shore up Snagajob’s standing as the leading platform in the restaurant segment and makes it stronger in the retail and hotel segments. “This makes us the clear leader in restaurants and a very major player in the other two,” he said. Harrison declined to disclose revenue, but he said Snagajob was growing 30 percent a year before the PeopleMatter deal. The acquisition will boost growth to about 50 percent this year, with 30 percent growth expected annually after that without additional acquisitions. PeopleMatter, based in Charleston, South Carolina, is about a third of the size of Snagajob. Once the acquisition is completed, Snagajob’s employee count will increase to about 470. The company said it expects headcount to follow a similar 30 percent growth trajectory. The company hopes to move into a larger space in the Arlington area to accommodate its growth. The D.C. area has been a key source of talent for the technology company over the past few years and was helpful in securing capital. Some of its growth will be outside of Arlington, however, as it also has offices in the Richmond area. Although Snagajob dominates the employee-side of the hiring process, with an average of 10 million unique job hunters using the platform per month, it isn't as strong on the employer side. The acquisition will give Snagajob access to PeopleMatter's suite of analytical tools offered to employers during the post-hiring process. These tools help employers monitor employee performance and identify what did and didn't work during the hiring phase. "We still had a relationship with the employers ... but we wouldn't really have any insight with how these workers were doing," Harrison said. The company has also targeted the health care segment for growth, particularly within senior care where a growing baby boomer generation is reaching retirement age. It has a lot of monthly users who are looking for hourly jobs in health care but currently the company does not have many employers in that industry using its network. Harrison wouldn't rule out a future initial public offering, though only when markets are more favorable. "I think we would make a great candidate for the public market when the time is right," he said. Snagajob said it is looking… more courtesy of Snagajob