According to the latest news, LinkedIn is all set to launch its new service – “Locate and Hire Freelancers” from September onwards. This new vertical will be termed LinkedIn Marketplaces. This latest service by LinkedIn will compete directly with several other freelance hiring sites like Upwork and Fiverr.

Industry insiders say that LinkedIn had started working on the platform in October 2019 and it was when LinkedIn had acquired assets to a startup called UpCounsel that connected freelance lawyers with businesses. The former CEO of UpCounsel – Matt Faustman, is leading the team responsible for the development of marketplaces.

This has not officially announced Marketplaces, Matt Faustman’s experience section in LinkedIn says him “Marketplaces Product Lead’.

Also, LinkedIn released an information statement saying that the worldwide pandemic situation saw an increase in demand for the freelance workforce. There has been a considerable rise in demand for freelance services on LinkedIn, with particular demands for executive coaching, design, marketing, and software development. It was also quoted by the spokesperson that in the future LinkedIn will be designing new ways to share more about the services you can offer directly through LinkedIn profiles.

How will it work?

This system works in both directions. LinkedIn not only gives freelancers the ability to showcase their experience, skills, and professional background, but it also provides businesses with a structured way to request services. Companies can post Requests for Proposals (RFPs), allowing freelancers to submit their offerings based on specific project requirements. This process gives businesses the opportunity to compare multiple freelancers based on expertise, pricing, and suitability. While lower pricing does not automatically indicate better quality, the RFP model helps organizations understand market rates for specific services and make more informed hiring decisions.

Like most modern job hiring platforms, LinkedIn Marketplaces is designed to create a transparent and balanced environment for both businesses and professionals. It provides ample opportunities for each party to review profiles, qualifications, and past performance, helping establish trust before any collaboration begins. This mutual evaluation process allows expectations, incentives, and opportunities to remain well aligned, encouraging fair interactions and professional conduct while supporting successful, long-term working relationships.

But, the services will be paid for and out of the revenue, freelancers earn. All is not charity, after all.

In addition to offering a wide range of services and enabling users to search for freelancers, the platform also allows users to post their own project proposals. This feature helps attract suitable freelancers for specific job requirements, making the hiring process more efficient and targeted. Once a project is completed, clients are able to share their experience by submitting reviews and feedback for the hired freelancer. These reviews help build transparency, establish trust within the platform, and assist future users in making informed hiring decisions.

As of now, freelancers and a lot of them use the LinkedIn platform to promote themselves as experts. But after LinkedIn Marketplaces goes LIVE, they can easily bid for RPFs, advertise them, and maybe also land a client.

LinkedIn knows that it is tough for freelancers now to find a whole lot of value over the platform. And this is why the site has realized the need to make advances in content marketing.

LinkedIn’s Editor in Chief, Daniel Roth, recently shared an update on Twitter announcing plans to expand the platform’s creator-focused initiatives. In his tweet, he stated that LinkedIn is “building out our creator management team” and is actively looking to hire a professional to lead this effort. Roth also encouraged interested candidates to submit their resumes, signaling LinkedIn’s growing emphasis on supporting creators and strengthening its content ecosystem.

In the past year, LinkedIn has taken some major steps towards increasing its advertising opportunities. And now it is all setting up to move even further.