The next service marketplace wave: Vertical market-networks

Ivan Smolnikov Contributor Ivan Smolnikov is the CEO and founder of Smartcat, the market network platform for the translation industry.

The last few decades have produced many successful marketplaces. We went from goods marketplace pioneers such as eBay and Amazon to simple service marketplaces such as Uber, Lyft, Doordash, Upwork, Thumbtack, TaskRabbit, and Fiverr. But why haven’t we seen many successful B2B service marketplaces?

Table of Contents Why Many B2B Service Marketplaces Failed Horizontal marketplaces are stuck at the discovery process Complex B2B services require workflow and collaboration tools Horizontal marketplaces suffer high attrition What Makes A Successful Service Marketplace? STEP 1: SaaS Workflow Platform Unlocks High-Value Collaboration STEP 2: Integrated Network and Payments Automation Strengthens Connections STEP 3: Embedding Into Content Solutions and Matching Automation Summary: Figure Out How to Unlock Value for All

Why Many B2B Service Marketplaces Failed

Some would argue that companies such as Upwork, Thumbtack, Fiverr, or TaskRabbit are horizontal B2B marketplaces in the sense that they provide access to suppliers of different services. But while businesses do indeed transact with freelancers on such “horizontal” marketplaces, for most service

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