So, under the old model, order 200k engineers applied to us. Because we were exclusive gatekeepers, around 3% of those were "accepted" onto the platform. Around 2/3 of accepted candidates received an offer, and around 1/2 of offers were accepted.
I don't know much about them, but the post does say their goal was to be "exclusive gatekeepers". If you consider it from that perspective, they had more like a 1/3 conversion rate (2/3 * 1/2). But conversion kind of seems like the wrong metric.
What metric would make more sense here, though? I can agree that from TBs perspective, they may not factor total applicants as their base # (although that is clearly their market). However this exclusivity of only using the small percentage they accept doesn’t seem to be a scalable business model. Having 1% of the devs who try their service actually accept an offer would not entice me to try their service.
