LinkedIn is reportedly working on a gig platform of its own. If true, the Microsoft-owned professional network service is all set to rival Fiverr and Upwork. Without a doubt, LinkedIn stands a big chance of rivaling Fiverr and Upwork considering its massive user base said to be around 740 million. The service is called Marketplaces according to The Information, and is already being developed.
Apparently LinkedIn wants to explore a market, though small, but with potential for growth. Just like Fiverr and Upwork, Marketplaces could serve as a platform where professional freelancers connect with individuals and businesses who want various range of services. The pandemic already presents a situation where people work remotely—and the demand for the services of freelancers becomes highly inevitable.
Marketplaces could launch as early as September, and could help to boost LinkedIn’s revenue. Already, the Microsoft-owned professional network site is home to millions of professionals who would now have another opportunity to market their skills.
The upcoming freelance service may integrate with Microsoft’s digital wallet still being developed. The wallet, according to The Information, would allow people to store money when launched. Of course, such payment options often allow people to transact across different types of apps or services; though it is still not clear what Microsoft plans to achieve with it.
Giving further insight into the upcoming service, one of the people familiar with the matter told The Information that Marketplaces will not be different from Fiverr. As you may have known before now, Fiverr allows customers to shop around for services and compare rates. Users on Marketplaces will also be allowed to post their own proposals to attract freelancers, which is not different from what freelancers do on Upwork. Customers will also be allowed to post reviews of freelancers they have hired. In terms of revenue, LinkedIn is considering taking a cut of transactions in addition to generating revenue by letting freelancers post ads.
In other news, LinkedIn has become the latest social media company to add or about to add a creator program. The professional social media company announced on Twitter last week that it was looking to hire someone to lead the team. LinkedIn’s editor-in chief Daniel Roth announced this via his Twitter page.
A creator program is one path many have been able to successfully navigate; and LinkedIn does not want to be left behind. Social media companies like Instagram and TikTok have all launched their own versions; and LinkedIn would take a similar route soon.