LinkedIn has revealed that 10 million users have registered as freelancers on its Services Marketplace, a platform it launched in 2021 to cater to the growing freelance workforce. This marks a 48% increase in sign-ups over the past year, with service requests—though not actual transactions—also on the rise, averaging eight per minute, a 65% growth year-over-year.
With over 1 billion users on the platform, this figure represents just 1% of LinkedIn’s user base. However, while the company is not disclosing how many services have been sold or the earnings of freelancers, it highlights growing interest in its marketplace amid a landscape where other freelancer platforms are experiencing a slowdown.
Platforms like Fiverr and Upwork, which have faced decreased demand, have adapted by adjusting their business models. LinkedIn’s marketplace, in contrast, is leveraging the growing number of freelancers by driving engagement and promoting its Premium Business tier. Users who subscribe to this tier can enhance their visibility, with LinkedIn reporting a 51% increase in premium subscriptions, contributing $1.7 billion to its revenue last fiscal year.
Despite this relatively small slice of LinkedIn’s overall revenue, the company remains optimistic about the potential of its freelancer marketplace, seeing it as a way to engage its user base and capitalize on the evolving future of work.
