Hiring platform, TalentPad, which was earlier known as TalentAuction is shutting down. Talentpad, which earlier raised funding from Helion in Oct 2014 and acquired recruiting platform Optimizedbits will stop accepting new profiles from today onwards.
TalentPad‘s hiring process worked through its flagship online event ‘Talent Fair’ where multiple employers get the opportunity to review and compete for 50 to 100 screened tier 1 talent, leading to interview offers for most of the candidates.
Excerpts from emails sent to its customers (emphasis is ours)
With a very heavy heart, we wish to inform you that we at TalentPad are shutting our operations effective immediately. We wanted to take this opportunity to thank you for being a part of this journey with us. We started in Feb 2014 with a simple idea that finding a good candidate could be much simpler for a company. Over last 18 months, we succeeded in doing that in many ways. We helped a lot of companies hire from some of the best tech talent in India and played a crucial role in their growth, while delivering the best customer experience.
But, we failed in some ways as well. We failed to figure out a scalable business for a big enough market. One of the things that our entire team has been passionate about is making a big impact to a wide ranging audience. We could not figure out a way to achieve that.
Recently, another niche player, MyNoticePeriod rebranded to Hiree and changed its operating model.