LinkedIn's Services Marketplace, launched in 2021, has gained traction despite challenges faced by freelancer platforms. With over 10 million service pages created, representing a 48% increase and 1% of LinkedIn's total user base, the platform is witnessing growth in service requests, though exact commercial engagement metrics remain undisclosed. In contrast to competitors Fiverr and Upwork, which focus on buyer numbers, LinkedIn emphasizes boosting engagement and premium subscriptions.
Premium Business tier users can enhance visibility for their freelancer profiles, contributing to a 51% rise in premium subscriptions, totaling $1.7 billion in revenue. However, this is a fraction of LinkedIn's $16 billion total revenue. Despite the modest gains, LinkedIn continues to see freelancing as an opportunity, with plans to explore formal pricing structures.
The platform's growth highlights ongoing interest in flexible work, even as other freelancer marketplaces recalibrate amidst declining demand and increased take rates.
Source: TechCrunch
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