About the Company

Sharetribe, founded by Juho Makkonen and his co-founders, is a SaaS company that simplifies the creation of online marketplaces for non-technical users. Established to fill a gap in the market, Sharetribe provides an easy-to-use platform that allows users to build and manage their own marketplace websites without needing coding expertise. The company’s software has powered over 1,000 marketplaces globally, offering a versatile solution for various types of online trading and service platforms.

The company's mission is to democratize platform ownership, allowing individuals with innovative ideas but limited technical skills to bring their marketplace concepts to life. Sharetribe is committed to fostering a diverse ecosystem of smaller, independent marketplace businesses, countering the dominance of large global players like Airbnb and Amazon.

Idea Behind Company

Sharetribe, founded by Juho Makkonen and his co-founders, is a SaaS company that simplifies the creation of online marketplaces for non-technical users. Established to fill a gap in the market, Sharetribe provides an easy-to-use platform that allows users to build and manage their own marketplace websites without needing coding expertise. The company’s software has powered over 1,000 marketplaces globally, offering a versatile solution for various types of online trading and service platforms.

The company's mission is to democratize platform ownership, allowing individuals with innovative ideas but limited technical skills to bring their marketplace concepts to life. Sharetribe is committed to fostering a diverse ecosystem of smaller, independent marketplace businesses, countering the dominance of large global players like Airbnb and Amazon.

Creating the Company

The development of Sharetribe’s first version began when a founder paid for customizations of the marketplace software, which became their first customer. This early engagement helped validate the product and attracted initial funding. By late 2012, the team had their first paying customer, and by May 2013, their marketplace was live.

The product’s early versions required manual setup and customization for each new customer. Over time, Sharetribe automated many of these processes. The initial public launch in November 2014 marked a significant milestone, with the product allowing users to create and manage their marketplaces independently. The company raised over $1 million through crowdfunding in 2018, which facilitated further growth and development.

Launching the Business

Sharetribe’s launch strategy involved starting with a simple landing page in August 2013, which quickly gained traction due to a lack of competition and high search interest for “create a marketplace.” Early customers were manually onboarded, and the product was customized based on their feedback. This manual approach allowed the team to refine their offering and build a more robust platform.

By November 2014, Sharetribe had developed a self-service model that allowed users to create their marketplaces without direct assistance. This transition from manual customization to a fully automated system was crucial for scaling the business. The crowdfunding round in 2018 further supported the company’s expansion and strategic goals, including buying back shares from original investors.

Earnings

Sharetribe has achieved significant financial success, with a monthly revenue of $200,000. The company raised over $1 million through crowdfunding, which was instrumental in buying back shares from original VC investors and transitioning to a steward-ownership model. This funding has supported their growth and allowed them to maintain control of the company.

The revenue and funding have enabled Sharetribe to expand its team to 24 employees and continue developing its platform. The company’s focus on providing a flexible, user-friendly solution for creating online marketplaces has contributed to its profitability and ongoing success. Sharetribe aims to further democratize platform ownership and support a diverse range of marketplace businesses globally.