Moonlighting cover feature

Moonlighting

The democratization of the freelance economy
$108,472 Raised
Ended January 1st
288 Investors

The Highlights 

  • Grown to more than 650,000 registered users in all 50 states since launching in 2014
  • $6M+ raised from investors like new media companies Gannett, Tribune, and McClatchy
  • Top 10 mobile app in the iOS App Store “Jobs” category for over two years
  • Taking the “Gig Economy to the Next Freelancing Level” - Forbes
  • Currently incorporating blockchain technology to make hiring online safer and more trusted




By 2030, Freelancers Will Account For as Much as 80% of the Global Workforce

Traditional Hiring Platforms Aren't Ready

The growth of freelancing worldwide is staggering. In the US alone, freelancers make up 35% of the current workforce, some 55 million workers who collectively earned $1 trillion in 2016. That number is predicted to reach 43% by 2020, with some analysts citing that figure at 80% of the global workforce by 2030.

While the freelance economy is booming, participants are at the mercy of flawed and individually-centralized job marketplaces. These traditional marketplaces struggle to engage new members and eliminate fraud, all while controlling freelancer earnings by setting pay rates, taking a steep cut of earnings, charging for bids, and withholding or even denying payment. As a result, freelancers are powerless to control their personal data and retain their full earnings. Conversely, employers have limited access to consistent, trusted, and verified worker data, putting them at the risk of losing money and wasting time in the process.


The Solution: Moonlighting

On a Mission to Help Millions

A few years ago, we started Moonlighting to help empower people everywhere to pursue the career they always wanted, to lead a better life, and to do work that they truly love. We wanted to create a free and open marketplace that gives everyone a shot at getting discovered and building their own workplace independence. This mission has turned into a movement, spreading quickly throughout the country and soon, across the globe. 


A More Trusted, Global, and Inclusive Freelance Economy

Moonlighting removes the middleman between employers and freelancers, connecting them directly to empower on-demand employment. In addition, it offers a suite of powerful SaaS tools that simplify communications and small business accounting.

With the upcoming blockchain integration, Moonlighting will decentralize worker profiles (including reviews, recommendations, education, licensing credentials) and allow freelancers to port their profile to any employment marketplace in the gig economy.

Removing the middleman

Thanks to the peer-to-peer model, platform commission fees are eliminated.

Providing powerful SaaS tools

Moonlighting provides a full turnkey solution with a suite of tools including online portfolios, instant chat to accept direct hire requests, proposals, invoicing, and online payments.

Getting a blockchain upgrade

Trust is a major problem for freelancers and employers. With the upcoming blockchain integration, once a blockchain profile is created on Moonlighting, independent workers will no longer have to create and maintain multiple online profiles. They can simply port their profile and earned reviews to other participating platforms providing employers with more consistent and accurate ratings and profiles. No more guessing which source(s) to trust – Moonlighting blockchain user profiles will make hiring online safe and trusted.

The blockchain integration will allow for faster payments via instant payments through cryptocurrencies.

Blockchain technology also supports tokenization and smart contracts that create new incentives for participation in Moonlighting and the freelance economy. The upcoming Moonlighting Rewards Program will incentivize freelancers and clients to act fairly and professionally, while building a stronger marketplace.

How it works for employers:

  1. Search for the type of worker needed or simply post a job

  2. Qualified freelancers receive job notifications and will begin to respond instantly

  3. Hire the worker you choose and pay securely right through Moonlighting

How it works for workers:

  1. Freelancers create a professional online portfolio

  2. Search jobs and respond to direct hire requests

  3. Accept job requests and receive online payments with no commission fees




Pres

As Seen In



Traction

Year-Over-Year Growth Since Launch 

Since launch, Moonlighting has gained great traction among freelancers and employers across a variety of verticals, from graphic designers to dog walkers, and data scientists to cake decorators. We’ve expanded rapidly, building a user base in all 50 states.

  • 650,000 registered users in the United States in all 50 states 1,500+ cities
  • Has been a top 10 mobile app in Apple’s “Jobs” category for over two years





From the Moonlighting Community




Revenue Opportunities

How Does Moonlighting Make Money?

In April 2016, Moonlighting began monetizing its freelancer advertising services and SaaS tools, creating the Boost membership, while also monetizing enterprise employer job postings to create a 30-day job posting product called Blast.

In July 2017, Moonlighting partnered with leading recruitment platform, Recruitology, to accelerate recruitment advertising revenue generated through third-party sales of the Moonlighting Blast product. As a result of these monetization efforts, Moonlighting has generated more than $750K in revenue to date.

Moonlighting currently monetizes both the employee and employer sides of the marketplace:

  • $40-$100 30-day job listings are available for recruiters and small businesses. These job posts enable these users to instantly connect with the best professional flexible, part-time, and freelance candidates to source, recruit, and hire instantly.

  • $10/mo per user subscription-based offer is available for freelancers and small businesses. This subscription provides promotion within the Moonlighting marketplace, unlimited use of SaaS tools, unlimited direct communication with potential employers, 0% processing fees on payments received through Moonlighting, and will soon include blockchain verified user profiles.

Additionally, we keep 5% commission of funds raised through Moon$hot Stories.


Addressable Market

Moonlighting’s freelance economy market is substantial and only getting bigger, with potential customers that include 7.5 billion freelance professionals worldwide, large and small companies, recruiters and sole-proprietors looking to hire. By 2020, freelancers workers are expected to make up 43% of the US workforce. By 2030, freelancers will account for 80% of the global workforce. If Moonlighting can capture just 1% of this market, it's a multi-billion dollar opportunity.

In the near term, Moonlighting is focused on expanding to two new markets, Canada and the United Kingdom, through partnerships secured with the top news media companies in each country. With this expansion, Moonlighting is on track to grow its user base to 500M+ and generate $100M by 2021.




Competition

Our competitors include traditional job marketplaces like LinkedIn, Thumbtack and Upwork. Moonlighting is the only company integrating blockchain technology to build a safer and more secure hiring platform.

*Available 1H'2019




Investors

To date, Moonlighting has raised $6.3M from local Charlottesville, Virginia Angel investor Network (CAN), New Richmond Ventures (NRV), and news media companies McClatchy (NYSE: MNI), Gannett (NYSE: GCI), and Tribune Publishing (NASDAQ: TRNC).



The Evolution of Moonlighting


The Team 

Jeff Tennery
Founder & CEO

Jeff Tennery is the founder & CEO of Moonlighting and has spent over 25 years in senior executive leadership roles at Verizon, AT&T Wireless, nTelos, and Millennial Media. Prior to founding Moonlighting, Jeff served 7 years as the Senior Vice President, Business Development & Global Monetization for mobile advertising leader Millennial Media. He was responsible for delivering hundreds of millions of dollars annually across 50,000 applications worldwide and played an instrumental role in Millennial Media’s 2012 IPO.

Ritesh Johar
Co-founder & CTO

Ritesh Johar is co-founder & Chief Technology Officer for Moonlighting and architect of the proprietary mobile payments platform that powers the Moonlighting Marketplace. Before he co-founded Moonlighting, Johar excelled as a Technical lead where he designed, built, and managed the platform that generates $1B+ in mobile & online payments for Capital One. With 13+ years of expertise covering various aspects of software architecture, design, development, process and methodology for the Federal Reserve and Thomson Reuters, Johar brings a wealth of digital payments experience to his new venture.

Roy Slater
Co-founder & COO

Roy Slater is co-founder & Chief Operating Officer for Moonlighting and an operations and process excellence professional with over 20 years of experience leading UI Design, ROI optimization, and mobile technology development. Before co-founding Moonlighting, Slater served as an operations manager at Capital One Financial, where he managed digital properties with revenues more than $1.5 Billion. Proudly hailing from Claremont, California, Slater has also held positions at Lendingtree.com, and GMAC/Ditech.com.


Join Us in Democratizing the Freelance Economy

Learn more about this company

Financials

Most recent Fiscal Year

Income Statement

Revenue
14%
$152,683
Cost of Goods Sold
26%
$6,439
Gross Profit
15%
$146,244
Taxes
$0
Net Income
21%
$2,585,189

Balance Sheet

Total Assets
73%
$380,605
Cash
74%
$345,560
Accounts Receivable
251%
$5,688
Short Term Debt
39%
$130,777
Long Term Debt
100%
$0

Other popular startups

Get email updates for the latest investment opportunities
Email
Email