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Cape Town – Micro-jobbing platform M4JAM (Money for Jam) may be making a comeback after an acquisition by Informal Solution Providers.
The startup ran into financial difficulty and announced in May that it was stopping trading.
“M4JAM ran into some financial difficulty and the original founders were searching for a buyer. At the same time, Informal Solution Providers realised we needed a more dynamic strategy to attract and retain customers by means of an extensive product portfolio and value proposition,” Richard Dunn, chief executive of Informal Solution Providers, told Fin24.
READ: Local micro-jobbing startup M4JAM halts trading
The company said it will reward the 130 000 remaining jobbers on the platform, but that there will not be any immediate pay for micro jobs.
“As we work on enhancing the platform, jobbers will only be able to complete non-paid jobs; this is part of our plan to offer them real and immediate value in the long term,” said Dunn.
Informal Solution Providers said it has an active user base of one million.
Details of the price of the acquisition were not disclosed.
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