LinkedIn’s Marketplaces for freelancers – interesting things to know

The new service LinkedIn are likely to launch around September 2021 could be beneficial to many freelancers. It’s a new platform to help freelance workers connect with potential clients.

There’s a lot of speculation about what it will look like, but there are a few things we know.

For example, LinkedIn isn’t completely reinventing the wheel, and Marketplaces is likely to be similar to Upwork and Fiverr, which have been providing places for freelancers to find gigs online for a long time now.

Likely Features of LinkedIn Marketplaces

There have been some reports about when it’s infrastructure or basic technology/platform was first created and the features it will contain.

In 2019, LinkedIn purchased a startup called UpCounsel, aimed at freelance lawyers and designed to connect them with businesses online. The CEO of UpCounsel, Matt Faustman, is leading the team that is responsible for developing Marketplaces.

First off, we suspect Marketplaces will have broad-based functionality. It looks like Marketplaces will focus on consulting, writing, marketing, and graphic design jobs.

LinkedIn launched ProFinder in 2016. LinkedIn ProFinder is “A professional services marketplace that helps connect the best freelance or independent professionals to you in your area” It allowed LinkedIn users to search for job applicants. It also allowed users to advertise that they were ‘open’.

It appears Marketplaces will be a similar, but more advanced platform. From what we can gather, the platform will allow users to search through a virtual marketplace of freelancers. Also, clients/employers will have the ability to post their proposals for freelancers.

There may be a social media aspect too, allowing clients and freelancers to engage with each other via posts and/or articles…

Clients will be able to leave reviews about freelancers once a job is completed.

As we would expect, LinkedIn will earn revenue from Marketplaces, and that will likely follow the model of similar platforms, whereby LinkedIn take a portion of the transactions facilitated. There could also be an ad component for freelancers to advertise their services.

One of the most unique features, perhaps, would be the implementation of a digital wallet. Controlled by LinkedIn’s parent company, Microsoft, the digital wallet would allow employers or clients to pay freelancers through the platform.

It should be interesting to see how this all develops – and there will be more updates and news etc. here at Aspect Avenue…

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