Most of us probably know what SaaS (Software-as-a-service) is. But what if I told you that there is an emerging trend in startup land called MaaS (Marketplace-as-a-service)? Well, I don’t know how many companies (if any) have already claimed this acronym. However, I can tell you that it is definitely a thing, a well-established, revenue-driven thing. Let me explain.
What is MaaS, and why does it excite me?
When I say Marketplace-as-a-service, you probably think about Fiverr. That makes sense. Fiver is for sure a MaaS. The thing is, there are many emerging startups that are building on the MaaS model, and they are doing it in a variety of different ways. For example, think about Truvid, which has created a video marketplace based on an exchange infrastructure that advertisers, publishers, and content creators can all participate and profit from.
Another example is LoanBase, which built a borrowing/lending marketplace that streamlines investment properties and commercial real estate lending. The thing about strong MaaS is that you have to add additional value to the parties involved. It is not merely a matchmaking place. You need to find ways to effectively enhance, scale, and simplify the process for all parties.
What are the trends in this area or products in this area that I am fond of?
MaaS models started to gain traction in broad landscapes like freelance operations (Fiverr) and travel operations (like booking.com). Still, today we are seeing more and more MaaS models integrated into niche verticals. This is an indication of how well-emerging startups can address barriers and gaps in traditional processes. This leads to added productivity and an overall sense of ease.
What are the positive impacts they can have on society?
Traditional industries without a MaaS Solution:
Outreach ➨ Response ➨ Negotiation ➨ Process ➨ FAQ ➨ Follow Up ➨ Execution ➨ Review
Traditional industries with a MaaS Solution:
Inquiry ➨ Response ➨ Process ➨ Execution ➨ Review
As you can see, a MaaS solution saves time and simplifies the whole transaction process. An efficient Marketplace-as-a-service is able to remove redundant tasks and communications and lets the execution process work more smoothly (by being structured and flexible enough).
What are my predictions on how these technologies will evolve?
MaaS solutions will be integrated into niche verticals in every field and industry. The strong ones will be able to transform their industry and make revenue by taking fees from every transaction. I think some more traditional industries that have been monopolized by powerhouse corporations will try to fight the MaaS model. Maybe some of them will try to build in-house MaaS solutions, but by doing so, consumers might fear the centralized aspect of it and will prefer to use a more decentralized third-party MaaS.
What are my predictions on the ethics of future societies in relation to these technologies?
As long as MaaS companies are transparent about how they make revenue, societies will be able to trust them. Also, MaaS companies will need to aim for a decentralized model, where they let users choose their own experience on the platform while still having it structured enough for the initial benefits. Easier said than done, but the companies that will integrate structure + flexibility in an efficient way will win.