LinkedIn launches freelancing platform to take on Fiverr and Upwork

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LinkedIn has introduced a freelancing platform called the ‘Services Marketplace’ for people to advertise themselves to get hired, similar to its competitors such as Fiverr and Upwork.

LinkedIn's debut of its freelancing platform comes after it announced a few other major upgrades to its job-hunting tools, including features like new search filters for finding remote, hybrid, or on-site employment. These filters can also be mentioned on the user’s Open to Work indicator which essentially allows recruiters to contact job seekers.

Earlier in February, LinkedIn’s Service Marketplace was originally revealed as a limited testing program. The employment-oriented platform has been conducting a private test of the service in the United States, which has already managed to gather 2 million users from LinkedIn's global user base of roughly 800 million.

It is worth noting here that LinkedIn will not charge any fees on the Service Marketplace, at least for the moment. However, this is likely to establish the basis for how LinkedIn can charge fees in the future.

LinkedIn Product Manager Matt Faustman revealed in an interview that the Service Marketplace will start with 250 job categories and will eventually grow to 500.

The confirmed hires on the platform have climbed by more than 160% year-over-year, with overall advertising revenue up by 61% in the same period. It has also managed to upsell those recruiting to its larger suite of training content, with more than 15,000 businesses have signed up for LinkedIn Learning to date.

With this move, LinkedIn intends to provide a stronger underpinning for its commercial aspects, especially for its recruitment feature, in which the platform sells subscriptions to recruiters to help them gather data related to job advertisements, potential candidates, and also help job seekers find work.

Experts believe that LinkedIn has cut out a big chunk of the employment market, especially since the last decade that has seen a large volume of people moving away from full-time jobs to more short-term freelancing roles.

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https://techcrunch.com/2021/10/27/linkedin-rolls-out-its-freelance-services-marketplace-globally-after-picking-up-2m-users-in-smaller-us-beta/