Employer.com has won Mainstreet.com for an undiscovered amount, the end of Fintech to be captured by the workforce management company.
In a post on X, the president of the employer.com and co -founder Jesse Tinsley said the two companies were “joining forces to simplify business offices solutions on an electricity platform.” Tinsley confirmed the purchase in Techcrunch.
Mainstreet, a San Jose -based startup, based in California founded in 2019, built a business about the start of starting the discovery of research and tax development. Starting created income by getting a place from the loan group. Mainstreet had some success in the first year, crossing the $ 1 million driving rate and helping the average client save $ 51,000. In 2021, Mainstreet’s income exceeded $ 15 million for the non -boring industry newspaper.
Signs of possible trouble appeared in 2022 when Mainstreet ceased about 30% of its staff, citing “a very harsh market”. At its prime minister in 2021, Mainstreet was valued at $ 500 million. The company was said to have been locked in a funding in 2022 with a $ 200 million rating.
It is unclear how the balance of mainstreet was like this purchase immediately, though Tinsley told Techcrunch in an interview the company was profitable. In total, Mainstreet collected about $ 75 million in well -known entrepreneurship capital from investors such as Signalfire, Tusk Ventures, Shrug, Moxe Ventures, End Weekend, Gradient Ventures, Sound and SV Angeles.
One of the Mainstreet investors presented the company at employer.com, according to Tinsley. The 15 -person team of Mainstreet will join the employer.com as part of the transaction, which has about 500 employees in all its companies.
With the purchase, employer.com is valued only in the north of $ 700 million, Tinsley said.
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The company based in San Francisco has been in a bargaining recently.
At the end of 2024, the employer.com announced that he was receiving a bench, an accounting start -up from VC that left thousands of clients closed from their accounts after it suddenly closed, on a fire sale. Last week, Bench performed a round of considerable work. And in January, the employer.com had offered to get the level, a fintech start that was suddenly closed after failing to find a buyer, but that deal did not pass.
“When we first started employer.com and then bought bench, comprehensive themes … It’s essentially the automation of a platform at the bottom for the business office,” he told Techcrunch in an interview. Buying mainstreet is in accordance with that purpose, Tinsley said.
At the end of January, Tinsley and employer.com are said to be joining YouTuber Mrbeast and others to save Tiktok by submitting an offer of all money for the application, according to a Bloomberg report. It is unclear what happened to that claimed effort to purchase even though Tinsley publicly confirmed in March that he was part of that $ 30 billion.
This story was updated after publication to reflect the exact amount of Mainstreet funding
