On Monday October 5th 2015, we launched Magnet.me (beta) in the UK. It was in the midst of the recruitment season and... did not particularly go well for us. We obviously did not have a lot of users when we opened our website to UK students, had just a handful of opportunities for students and just a couple of employers to connect with. Result: very low engagement from students. By new year's eve, we only had about 3,500 UK students that had signed up to Magnet.me. Not exactly the dreamstart we had hoped for when standing on the rooftop of our WeWork office in London overlooking St Paul’s Cathedral the day before our beta launch…
We got cake from Mark’s mum when we first beta launched Magnet.me in the UK on October 5th, 2015.
Today, exactly two years later, we are UK’s biggest student and graduate careers site in terms of graduate opportunities listed and over 75,000 UK students now use Magnet.me to start their professional lives. There are even more opportunities on Magnet.me than on old school job sites like Milkround, Targetjobs and Prospects… combined!
So. What the h*ll happened in between?!
To answer that question we need to take you back to when we first started out with Magnet.me. In 2012. In the Netherlands.
As students, we noticed that on every old school job site, on every careers fair, on every everything, we only came across the same, well-known employers with big recruitment budgets. Smaller companies, start-ups or frankly any company that does not think it’s worth it to pay £600+ for just posting a job opportunity on a website that looks like it’s straight from the 90’s.
As a result, students miss out on most of their career opportunities. And that’s why we started out with Magnet.me. And that’s why we made it free for any company to post their job on our website.
This approach has led us to becoming the biggest graduate careers website in the UK in terms of opportunities listed, but it is also why we are probably not the biggest graduate careers site in terms of revenue ;).
More than 3,000 opportunities is a lot, and is a number that goes up every hour. However, scrolling through 3,000 opportunities takes almost as much time as getting through university itself and is not something we expect from our users. After all, there are more important things to do when you are at university (beeremoticon).
That is why our smart algorithms and machine learning ‘handpick’ the best opportunities for each individual user and also make a suggestion of which companies to connect with based on a job seeker’s profile and interests.
With this approach and philosophy, we aim to keep on growing in the British market. Now onto the next milestone!