Jeff Tennery - 5 Things I Wish Someone Told Me Before I Founded my Company
Jeff has spent the past four years helping 675,000 freelancers and entrepreneurs launch and grow their own personal business and build th...
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
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.
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.
Thanks to the peer-to-peer model, platform commission fees are eliminated.
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.
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:
Search for the type of worker needed or simply post a job
Qualified freelancers receive job notifications and will begin to respond instantly
Hire the worker you choose and pay securely right through Moonlighting
How it works for workers:
Freelancers create a professional online portfolio
Search jobs and respond to direct hire requests
Accept job requests and receive online payments with no commission fees
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.
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.
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.
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.
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).
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.
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.
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.
The smallest investment amount that Moonlighting is accepting.
$25,000 – $1,070,000
Moonlighting needs to raise
before the deadline. The maximum amount Moonlighting is willing
to raise is $1.07M.
Moonlighting needs to reach their minimum funding goal before the deadline.
If they don’t, all investments will be refunded.
The Crowd Safe is an agreement for future equity in the startup,
meaning that it can convert to equity in the future.
The Crowd Safe is an agreement for future equity in the startup, meaning that it can convert to equity in the future.
One year complimentary Boost membership ($120/year value), and our heartfelt appreciation.
One-on-one consultation for the set up and optimization of your Moonlighting account, one year complimentary Boost Membership, and a Moonlighting T-shirt.
Complementary lifetime Boost membership ($120/year value) + your choice of previous perks.
"Investor" badge added to your Moonlighting profile + your choice of any previous perks.
Join our beta tester list and receive first access to new features and releases + your choice of any previous perks.
‘Featured Moonlighting’ story about you published and distributed to a national audience + your choice of previous perks.
Lunch with the CEO + your choice of any previous perks.
Moonlighting is one of the fastest growing freelance marketplaces in the world and will be the first scaled hiring platform on the blockchain. The Moonlighting team of seasoned digital executives is well positioned to disrupt the $1T freelance industry with its best in class mobile application. Backed by the three largest news media companies (Gannett NYSE: GCI, Tribune NASDAQ: TRNC, McClatchy NYSE: MNI) Moonlighting has over 650,000 registered users on its platform, generated over $750k in revenue and is showcased in over 150 news media publications including the Chicago Tribune, LA Times, Miami Herald and the USA TODAY.
Moonlighting has been operating since 2014 and has gained the trust of 650,000 users of the platform. The company has generated over $750k in revenues and raised over $6M with strategic and accredited investors.
With a mobile and website enabled marketplace, Moonlighting is currently available everywhere in the U.S. Current expansion plans include Latin America, Spain, U.K., India, Australia, and Canada.
Moonlighting’s solution solves three problems that are not being addressed by incumbents in the recruitment/freelance space:
1. Moonlighting’s User Profiles are being transported to the blockchain to create more trust and safer hiring. Profiles will be more accurate and authentic (reviews, recommendations, education, licensing credentials) generating more trust for the hirer and the freelancer.
2. Moonlighting generates revenues from an affordable subscription model, which appeals to mass audience sizes of 1M or more. Competitors are charging 20-30% of a freelancer’s paycheck, which creates friction and drives users off the platform. Moonlighting’s use of cryptocurrency will allow users to keep 100% of their earnings and Moonlightings rewards program, paid in cryptocurrency, will retain users and keep engagement high.
3. Moonlighting is democratizing the use of freelancer profiles and will allow users to port their profile to any employment marketplace in the gig economy. Users will be able to control the use of their data, which will be more secure and use the Moonlighting profile via single sign-on, saving users from having to register and manager multiple profiles across a highly fragmented gig economy.
The three co-founders have over 60 years of successful digital and financial tech experience and have taken start ups from inception to IPO to strategic acquisition. The team has worked at Verizon, Capital One, AT&T, AOL Lending Tree and the Federal Reserve and partnered with the top media and mobile companies.
Moonlighting is comprised of successful entrepreneurs who have built billion dollar companies and worked as technologists in supporting platform companies manage billions of dollars in mobile/digital transactions. Moonlighting has built a world-class sales distribution strategy via third party partnerships with Gannett, Tribune, McClatchy, Verizon, Monster, Yahoo and over 450 news media sites around the globe including new partnerships with the Johnston Press for UK expansion and Post Media, to bring Moonlighting to Canada.
Moonlighting monetizes both sides of their marketplace with a simple $10 per month subscription called Boost, which helps freelancers stand out and gain more business on the platform. In addition, Moonlighting allows recruiters and staffing companies to post 30 day listing ranging from $40-$100 per month to promote specific jobs.
Everything is shifting to apps and online, therefore this app creates a simplified way for one to look and find what they are interested.Richard AtibaInvested 10 days ago
I really like the idea as a worker of having much more control over when and where I work. I think it will also eventually catch on in a big way with employers as it gets harder and harder to find good help.Casey MarlandInvested 10 days ago
I am happy to be part of this journeyUtpal DoshiInvested 12 days ago
I believe freelance work would become more popular if workers and job providers had a connecting platform like Moonlighting. This company is aware of its competitors and is well-planned.Jeremy RamseyInvested 18 days ago
I believe in this companyBenson UcheInvested 20 days ago
Good space with a lot of potential. Competition will be stiff but I think they are bringing a little more to the table with offerings.Alexander WingeierInvested 26 days ago
I agree that the job market will increasingly move in this direction. Hopefully, this company can produce and I will receive a healthy return on my investment.Ivan HellerInvested 27 days ago
Freelancing and home office will be more and more standard in our hypermodern work culture between other buzzwords like Augmented reality, Co-bots and Internet of Things. So it's very important to have an innovator like Moonlighting. 110% for you!Arwed KubischInvested 29 days ago
The discount on Boost given from Moonlighting.Brian EnsorInvested 29 days ago
Would love see people working in this space. Try to avoid the pittraps of touching blockchain technologies, make sure you play with cryptocurrencies as often as possible too. It's not all about blockchain :)Chaz CarlsonInvested about 1 month ago
The idea, technology (Bockchain technology), I personally use a lot the (Freelancer) platforms to accomplish my small projects.Badih KanaanInvested about 1 month ago
I think remote work (any way, shape, size) is worth investing in, and I love Moonlighting's influence in this space. Excited to see what they do next!kevan leeInvested about 1 month ago
I believe in freelancing and working for one self. I checked out the website and was impressed. I believe Moonlight has something special here.Sandeep SinghInvested about 1 month ago
The Gig Economy is an obvious megatrend. Moonlighting seems to have traction. App comments are believable and actionable.Mel ClarkInvested about 1 month ago
I believe in your concept of blockchain utilization and changes in employer-employee relationships.Timothy KuoInvested about 1 month ago
I believe in this company and what they stand for.Bernardo MirandaInvested about 1 month ago
It's a good idea.Scott KaplanInvested about 1 month ago
Moonlighting has a real opportunity to bring together the enthusiasm, and immutability of the blockchain, while also providing people with a platform to create their own careers. There's already product traction, market fit, and a strong user-base.Avery KondaInvested about 1 month ago
Helping people meet their goals.Tracie DixonInvested about 1 month ago
Love the idea!!!rahul katareInvested about 1 month ago
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