- MoonPay, a startup that helps users convert fiat currencies into cryptocurrencies, is hiring.
- The company’s head of talent said he’s hiring for engineering and design roles, among others.
- The crypto industry is growing rapidly and expected to be worth $8.7 billion by 2030.
Web3, a decentralized version of the internet built on blockchain technology, is an industry expected to be worth $8.7 billion by 2030, according to the research firm Prophecy Market Insights.
As the market grows, so does the number of companies looking to get in on the action. But only some employers are successful in luring the best talent away from traditional Big Tech companies.
One of these companies is MoonPay, a financial-technology startup that allows users to convert fiat currencies, government-issued currencies like the US dollar, into cryptocurrencies. Last year, it raised $555 million in a Series A and, over the course of the company’s two-year existence, it has grown from a five-person team to a 200-person team, Rich Cobbold, the company’s head of talent, said.
Cobbold, a former Google employee, is one of MoonPay’s recent hires and plans to keep the bar high for hiring as the company “aggressively expands,” he said. MoonPay is hiring for cryptocurrency roles — which experienced 395% overall growth across the US between 2020 and 2021, according to LinkedIn — as well as those in finance, legal, and marketing, he said. MoonPay is also focusing on hiring for product, engineering, and design roles.
“I really firmly believe that Google is where they are because they have one of the world’s best interview processes,” Cobbold said. “If we can add some of that rigor to make sure we keep the bar super high, I think that will go a long way as we scale out.”
Cobbold shared with Insider what type of worker would excel at MoonPay and who he’s looking to hire.
MoonPay is looking for high-achieving candidates
MoonPay has five core values that influence how employees work and how Cobbold and his team evaluate candidates: Be humble, lead with empathy, own it, communicate clearly, and kaizen, which is a Japanese term for constant improvement that Cobbold feels is an essential quality in a fast-paced market like crypto. Together, the values form the acronym BLOCK.
“All these things are really, really important to us, but ‘kaizen’ is really the one that I focus on more than anything else,” Cobbold said. “A year in crypto is like 10 years anywhere else.”
The average candidate will go through four rounds of interviews with various members of the company. If the candidate is applying for a technical role, they will also take a GitHub test that measures software-engineering skills.
Finally, every candidate who moves forward will have a MoonWalk interview, where a nominated member of the team who receives extra training will ask questions specifically about the BLOCK values and hypothetical scenarios, Cobbold said.
“The best who come through the process show us that they are comfortable with ambiguity,” he said, “show us that they can be very at home in a place where the rules aren’t yet defined and are welcoming to the opportunities that brings, rather than nervous.”
Combining Big Tech experience with startup savvy
While MoonPay has managed to attract talent with Big Tech experience, having a behemoth on your résumé is not a prerequisite for employment, Cobbold said. In fact, MoonPay likes having a mix of talent: those who have startup experience and understand the fast-moving landscape of the business, as well as people who have bigger-business experience and can bring those standards to the company.
“If you mix those two, and get that diverse mix of people from various backgrounds, hopefully you end up with a really pragmatic approach to your business where you kind of match both sides,” Cobbold said.
For nontechnical roles, Cobbold does not expect candidates to be nonfungible-token or crypto experts. Instead, he’s looking for people who are willing to learn and who have a self-starter attitude.
“I really look for somebody who’s gone above and beyond,” he said. “Somebody who has connected to me directly.” He added that this could include a follow-up email.
For example, Cobbold had one candidate who prepared a presentation for their interview. While MoonPay didn’t require this, it showed the candidate’s work ethic and interest in the role, he said. Another way candidates can show a passion for the cryptocurrency space is by using online learning platforms to further their education or building personal projects, he said.
The best Web3 talent isn’t always on LinkedIn, which is why Cobbold and his team are turning to
servers and developer conferences to find whom they want. And talent recruited through these methods can expect to join an innovative company, Cobbold said.
“We’re all, to some extent, building the plane as we’re flying it,” he said. “And it’s an exciting world because of that.”