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CyberMedia To Set Up Online Marketplaces Around Dare; Thoughts On Marketplaces

In a conversation with MediaNama today, Pradeep Gupta (PG), Chairman and MD of the CyberMedia Group said that there are two products that the company is developing around Dare, their entrepreneurship brand: Business Exchange: The first marketplace will be a freelance exchange on the lines of Elance; "It was not initially in the plan," said PG, "but this we're building a sort of a digital marketplace, where people who are entrepreneurs and looking for certain services, and people who are providing those services can meet. For example, we did an article on outsourcing of marketing, and a number of people wrote in saying - 'Hey, can you tell me a company who can take up my marketing. I'd like to outsource it.' Similarly, there are companies who have written in saying they provide these services." Innovation Marketplace: Cybermedia will allow companies to offer a brief about their Intellectual Property, and allow buyers to license that IP. The Business Exchange is expected to go live in Q3. I also asked PG about the revenue model for the markeplaces - he said they will charge a transaction fee for deals, much like other freelance marketplaces, though they're yet to finalize the various payment slabs for different grades of accounts. Marketplaces are far more efficient in connecting buyers and sellers: Most marketplaces have targeted offshoring work - sites like ELance, Guru etc have a significant number Indian service providers; for a service provider, it's a question of margins - where is he or…

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