10/02/2014 Baltimore Business Journal
Baltimore startup OrderUp is building up its talent pool quickly in part by hiring an entire five-person consulting firm.
OrderUp, an online food ordering and delivery service, has acqui-hired Back Forty, a small technology consulting firm in Baltimore. Acqui-hiring is when one company acquires another company’s employees, but not its assets. All five of Back Forty’s employees will join OrderUp, but the company is not buying Back Forty’s assets.
Financial terms of the deal were not disclosed.
Acqui-hiring an entire firm of developers is an efficient way to scale up fast, especially for companies like OrderUp that want to bring on dozens of new employees.
The company raised $7 million in a round led by AOL co-founder Steve Case’s firm Revolution Ventures. CEO Chris Jeffery in August told the Baltimore Business Journal that a chunk of that funding would go toward building up staff.
Since launching in 2009 Jeffery and co-founder Jason Kwicien have built up the company to a total of 87 employees in 36 markets, including Baltimore. OrderUp has 33 openings.
Still, CEOs have to be careful that everyone they’re bringing on board is a good fit for the company’s culture and mission.
Jeffery said that was the case with Back Forty. OrderUp met with Back Forty casually and talks eventually led to the idea of Back Forty’s employees joining OrderUp.
“When we sat down and spoke to them about what we’re working on, we were excited to work together,” Jeffery said. “It came down to figuring out something that worked for both of us.”
Sarah covers health care, higher education, biotech and technology.See Original Article