LinkedIn is reportedly planning to launch a new service this fall that will allow users to find and hire freelance professionals.
In a report by The Information, "two people with direct knowledge of the matter" are given details of LinkedIn marketplaces.
Marketplaces are being created to directly compete with other freelance hiring sites like Upwork and Fiverr. It is currently planned to start the service as early as September.
Work on LinkedIn Marketplaces should have started in October 2019. At the time, LinkedIn acquired assets from a startup called UpCounsel, which connected freelance lawyers with companies.
Former UpCounsel CEO Matt Faustman now leads the team responsible for developing marketplaces.
Although LinkedIn has not released any official details about marketplaces, Faustman publicly states on his own profile that he has been working on the project since October 2019.
The information received a statement from a LinkedIn spokesman that the pandemic had spurred demand for freelance workers.
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More and more people are looking for and requesting freelance services on LinkedIn, with particular needs for executive coaching, marketing, design and software development.
"In the future, we will develop new ways to learn more about the services that you (could) offer directly through your LinkedIn profile," says the spokesman.
In addition to searching a freelance marketplace, users can post their own suggestions to attract freelancers to specific jobs. After completing the work, customers can submit a rating of the freelancer they have hired.
Marketplaces has the potential to grow LinkedIn's user base and generate new revenue streams. Customers can compare prices and book freelancers directly on the website.
LinkedIn is expected to limit the transactions made possible through marketplaces. The company is also considering letting freelancers pay for ads.
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The introduction of marketplaces will almost be a way for freelancers to finally monetize the time they spend connecting on LinkedIn.
Making the right connections on LinkedIn requires a combination of traditional networking and content creation like posts, articles, and videos. That's a lot of unpaid work.
There's never been a way for users to get paid directly from LinkedIn, but it seems like the company is headed in that direction.
A post by Daniel Roth, editor-in-chief of LinkedIn, shows that the company recognizes the value of its content creators.
Roth is hiring a leader to build a team that will allow the developers to "have an even bigger impact" on the platform.
We're expanding our creator management team and I'm hiring someone to lead it. Is that you? Do you have any good candidates to recommend? Please let me know! https://t.co/RG9V3vdJUy
1 / Why Creator? A short thread:
– Daniel Roth (@danroth), February 12, 2021
The job posting for the new Head of Community position at LinkedIn shows that the company is developing strategies to retain content creators.
“We're creating a community management team to support and grow our content creators with a mission to source, nurture, improve, and retain these vital voices. The creators create incredible waves and help others find their community and develop their own voice. The more people give and receive help, the faster we all grow. "
Will any of these retention methods include monetary incentives?
Social networks that make users pay for content aren't as unusual as it sounds. Recently, Snapchat was paying out $ 1 million a day to developers to encourage them to use a new feature. ATikTok set up a Creator Fund last year that pays out $ 200 million to US users.
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LinkedIn may be the next to invest in developers. This could be another way for users to make money in addition to marketplaces.
Source: The information