Tech news provider The Information reported the development of a freelancer marketplace by Microsoft-owned LinkedIn. The service is rumored to be called Linkedin Marketplace and will position the company even better against the likes of competitors such as Upwork and Fiverr. 

According to reports, Linkedin Marketplace will use digital wallets for platform transactions. The product builds on Linkedin’s ProFinder tool which allows users to find freelancers on the LinkedIn platform. LinkedIn Marketplace as described would be a step up from ProFinder which leaves a lot of work for the user, for example, finding freelancers rather than being automatically matched with them.

LinkedIn ProFinder was launched in 2015 prior to LinkedIn’s acquisition by Microsoft in 2016. ProFinder is LinkedIn’s marketplace for professional services which connects freelance or independent professionals with businesses for employment opportunities.

The platforms offered categories such as software development, IT services, design, writing, and editing. Although the work categories are similar to other online platforms, ProFinder is backed by LinkedIn’s community of over 740 million users and current LinkedIn profiles seamlessly integrate into ProFinder’s platform. The platform uses a subscription model similar to models deployed by Upwork and Fiverr.