An easy way to establish a marketplace for underused goods

Sharetribe can justifiably be called the ‘platform of platforms’. The service provided by this fast-rising start-up allows private individuals or companies to establish a community marketplace website without needing specialist IT skills. This promotes the use of resources in the spirit of the sharing economy.

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Problem

People and organisations underuse their goods and facilities. For example, a power drill is used for approximately 12 minutes over its life cycle and a passenger car is parked 92 per cent of the time. In addition to underuse, goods and facilities are produced far in excess of their actual need, which consumes our planet’s resources and contributes to climate change.

Solution: an easy way to establish a marketplace, where underused goods and facilities can be found by the people who need them

Any individual or company can use Sharetribe’s technology to easily establish a marketplace website to rent or sell underused goods or facilities. Reselling and renting improves the usage rate of goods and facilities and reduces the need for new production. Sellers and renters are given an opportunity to earn extra income, while buyers save on the cost of making a new purchase.

Revenue model and benefits for Sharetribe

Marketplace founders are charged a monthly fee based on the number of visitors on their website. The growing trend for a sharing and peer-to-peer economy offers excellent conditions for business growth.

Benefits for the customer

The founders of a marketplace website can earn money by charging a percentage on transactions made through the website payment system. This percentage makes up the total turnover of many of Sharetribe’s customers. Additionally, without the Sharetribe technology developing a similar website would cost several times more and take months to develop. Many people would simply never set up their own website – with Sharetribe it can be done in a day.

Facts

Sharetribe in a nutshell

Industry: IT applications

Founded: 2011

Turnover: less than €1 million

The launch of the circular economy solution: the technology to create marketplaces to sell or rent underused goods, services and facilities was launched in 2011

Personnel: 10-250

Headquarters: Helsinki

Website: www.sharetribe.com

Project

The most interesting companies in the circular economy in Finland

The most interesting companies in the circular economy is a list compiled by Sitra to showcase Finland’s most inspiring examples of the circular economy. Sitra is using the list as a way to challenge Finnish companies to meet the changing needs of the world.

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