The second wave of the sharing economy phenomena has hit. With the emergence of hundreds of ecommerce marketplaces in the last decade, we are now starting to see the growth of new startups in support of these major platforms to make peer to peer interaction even better.
In other words, entrepreneurs are realizing that large companies need their help.
Ten years ago no one would have expected the phenomena that is the sharing economy. Breaking down traditional economic models, these online marketplaces are continuing to dominate at an exponential rate. According to Juniper Research, the growth of the sharing economy is expected to double between 2017 and 2022, growing from US $18.6 billion to US $40.2 billion. With the expansion and growth of these companies such as Airbnb, Uber, Etsy, and Grubhub, comes an emergence of new surrounding businesses.
What do these new startups provide for major platforms?
There are many different and exciting startups popping up that are solving any issues buyers and sellers may be having. Here are a few:
- Guest Ready and Pass the keys – management service operators that help owners manage their properties on Airbnb.
- Guardhog – offers insurance cover for home rentals, storage and other services.
- Cargo – helps Uber drivers make extra cash by selling various products in their cars. Cargo partners with brands to put snacks, phone chargers, tampons, and other products to ensure the best ride possible.
- Deemly – reputation and social verification tool that combines the users personal ratings and reviews from multiple sharing economy platforms and creates a portfolio to show their trustworthiness and eligibility.
- Rude Communications – a public relations agency that specializes in helping sharing economy marketplace platforms.
The sharing economy phenomenon has provided a great amount of innovation and opportunity for future startups. This new collaborative economic model is now what the future is shaping to be.