tory reiss: marketplace startups

(Marketplace) Startups to Watch By Tory Reiss Wait- What is a Marketplace Startup? Most simple explanation: connects buyers and sellers Aren’t focused on creating a need Instead provide solutions for needs we didn’t know we had! What Sets Them Apart? They challenge old corporate models Generally strip away bureaucratic structures Direct channels are one of their greatest assets Years ago, we wouldn’t have thought about this Now if you’re hungry you order via seamless Need to get somewhere in a hurry? Grab an Uber Food and transportation would be obvious industries for startups But there are a couple making a splash in other areas… HomeJoy Cleaning service! Makes professional cleanings affordable Aimed at those who would otherwise not hire a cleaning service Intuitive and user-friendly platform to help find the perfect cleaner No longer need to screen individual applicants In addition to the certified cleaners, all new hires are properly trained That way, they’re able to help out, too! Traction Traction is like a reverse of traditional marketplace startup The buyers are the companies, and the sellers are freelancers Basically, brands outsource their advertising departments Freelance network of media buyers, bloggers, and marketers picks up the work Can save companies lots of money A lot of big brands are already using it CBS Sony Kraft Instacart Brings your groceries to your door Doesn’t sound super innovative? Well… They allow shoppers to select combination goods Breaks previous limitations For example, ordering from Walmart meant you could only select good from that Walmart store. Instacart shoppers run around for you, and pick up what you need Currently operates in 11 major urban areas Plans to increase that to 15 by the end of 2015