LinkedIn's Marketplace: Discovering new customers, resources, and opportunities.

An estimated 59 million Americans (or 36% of the workforce) take on freelancing tasks each year. Pakistan is one of the world's top five freelance countries. As seen from these examples, this trend has no intentions of stopping.

The majority of employers aim to increase or maintain their use of independent contractors.

The primary means of freelancers connecting with potential employers have always been through Upwork and Fiverr.

It follows that when the need for freelance labour grows, the number of networks will rise as well.

What Is the LinkedIn Marketplace, and How Does It Work? A network where sellers meet buyers.

The more freelance labour we have, the more firms need a way to find workers on short-term contracts. So it's important that LinkedIn, the most popular professional networking site, has a marketplace where employers can find people available on short-term contracts.

In the past, LinkedIn has successfully connected job-seekers with existing vacancies, but LinkedIn Marketplace focuses on linking contractors with contracts.

Preliminary information indicates that work on this effort started in October of 2019 and is scheduled to launch in September 2021.

Rumors have circulated regarding this Marketplace for some time, but no statement has been made yet.

It should be noted that an official made the following statement in Fortune:

We'll construct more platforms in the future that allow you to connect with your professional potential directly on LinkedIn.

LinkedIn now competes directly with publicly traded freelance job boards like Upwork and Fiverr due to the emergence of LinkedIn Marketplace.

Also, with a LinkedIn spin, Marketplace is expected to contain few same features as its competitors but with a greater focus on business-to-business. With all of the various freelancing platforms available, businesses may (and should) seek out freelance work, review and compare freelance services, and post relevant freelance tasks for freelancers to respond to. After projects, organizations can provide feedback about freelancers on their profiles.

What exactly is the LinkedIn Marketplace?

For the time being, the Marketplace on LinkedIn is still in construction. Still, we've already discovered some critical considerations to keep in mind as you get ready for the new platform launch.

Work in this area includes helping clients, writing content, promoting, and designing.

It will be comparable to Fiverr and Upwork, websites where independent contractors list their services and deduct a percentage of each job.

Microsoft will be providing a digital wallet in partnership with which people can pay.

LinkedIn's premium content network will expand with the introduction of a digital wallet.

LinkedIn ProFinder will have a lot in common with the LinkedIn Marketplace.

Although we expect that most of the functions would be identical to their predecessor, ProFinder has yet to identify the distinguishing elements of the LinkedIn Marketplace with their impending release.

In this comparison, the difference between LinkedIn Marketplace and LinkedIn ProFinder is important to understand.

That's not the first time that LinkedIn has launched a freelance marketplace.

LinkedIn's ProFinder helps people find qualified candidates for open positions. By offering ProFinder, businesses have the opportunity to increase their customer base by reaching out to new clients, and people who find their business listed in ProFinder will also learn that they are "open for business."

With the feature set in Marketplace, businesses will look at the current freelance rates, publish reviews, make connections, and exclusive deals.

The program's broadened functionality benefits millions of platform users while also giving paid possibilities for freelancers to promote their expertise and services on the Marketplace.