From Social Networks To Market Networks

Most people didn’t notice last month when a 35-person company in San Francisco called HoneyBook announced a $22 million Series B*.

What was unusual about the deal is that nearly all the best-known Silicon Valley VCs competed for it. That’s because HoneyBook is a prime example of an important new category of digital company that combines the best elements of networks like Facebook with marketplaces like Airbnb — what we call a market network.

Market networks will produce a new class of unicorn companies and impact how millions of service professionals will work and earn their living.

What Is A Market Network?

“Marketplaces” provide transactions among multiple buyers and multiple sellers — like eBay, Etsy, Uber and LendingClub.

“Networks” provide profiles that project a person’s identity, then lets them communicate in a 360-degree pattern with other people in the network. Think Facebook, Twitter and LinkedIn.

What’s unique about market networks is that they:

Combine the main elements of both networks and marketplaces
Use SaaS workflow software to focus action around longer-term projects, not just a quick transaction
Promote the service provider as a differentiated individual, helping to build long-term relationships

An example will help: Let’s go back to HoneyBook, a market network for the events industry.

An event planner builds a profile on HoneyBook.com. That profile serves as her professional home on the web. She uses the HoneyBook SaaS workflow to send self-branded proposals to clients and sign contracts digitally.

She then connects to that project the other professionals she works with, like florists and photographers. They also get profiles on HoneyBook, and everyone can team up to service a client, send each other proposals, sign contracts and get paid by everyone else.

Read More

Comments

Samsung Galaxy S5 Review and Giveaway

Few smartphones are as aggressively marketed as Samsung’s Galaxy S5. The S5 can no longer be considered brand-new — but it is Samsung’s flagship, at least for the next few months. With a gorgeous screen, a capable camera, a waterproof build, and a user-replaceable battery, the Galaxy S5 has a lot to offer… at least on paper. Let’s find out how good it really is. What Makes This Review Different There are about a million Galaxy S5 reviews out there. Why should you read this one? Two keys points make our review different: We bought our own device . Unlike many tech blogs, we don’t use a review unit Samsung gave us. We went out to the store and bought one, just like you would. This means everything you read here is truly impartial – we owe Samsung nothing. We used it for more than a month . Some sites rush to be the first to publish a review on a new device. That’s not how we do things. I used the Galaxy S5 as my main (and only) Android phone for nearly two months,...

Samsung Galaxy Note 3 N9000 Review and Giveaway

When it comes to massive phones, nothing is more iconic than the Samsung Galaxy Note. It has gained popularity not only due to its size, but its additional features such as a stylus and a larger battery make it a more useful phone. Samsung released the third generation of the Galaxy Note in October, updating the phablet with a larger screen and improved hardware. Read through our review, then join the giveaway to win the Samsung Galaxy Note 3 ! Competitors Of course, other Android competitors haven’t let the $640 Galaxy Note 3 be the only player in the phablet market. There are others such as the Sony Xperia Z Ultra , the Samsung Galaxy Mega , and the other more common phones that are reaching 5″ screens such as the Samsung Galaxy S4 , the HTC One , and the Nexus 5 . Unlike the normal-sized top contenders, the Galaxy Note 3 has a bigger screen and larger battery. It also offers specific features (surrounding the S Pen stylus) th...

Ex-Skypers Launch Virtual Whiteboard Deekit

Although seriously long in the tooth and being disrupted by a plethora of startups, for many years Skype has existed as an almost ubiquitous app in any remote team’s toolkit. So it seems apt that a new startup founded by a team of ex-Skype employees is set to tackle another aspect of online collaboration. Deekit, which exits private beta today, is a virtual and collaborative whiteboard to help remote teams work smarter. The Tallinn, Estonia-based startup is headed up by founder and CEO, Kaili Kleemeier, who was previously a Head of Operations at Skype. She and three colleagues quit the Internet calling giant in 2012 and spent a year researching ideas in the remote team space. They ended up focusing on creating a new virtual whiteboard, born out of Kleemeier’s experience collaborating with technical teams remotely, specifically helping Skype deal with incident management. “Working with remote teams has been a challenge in many ways – cultural differences, language differences, a...

Kiran Upadhyay

Search This Blog