"Series B – Say What!?"
I hate it when people assume I know something I could easily understand if they'd just get out of their own little world and get into mine. Such an instance occurred just a few days ago with this article which discussed the new buzzword, 'market network'.
Notice that at the end of the very first sentence you see the phrase, "…HoneyBook announced a $22 million Series B*.
My very first reaction to that was, "Whaaat??!!" But as I read through the article I sort of got the general idea of what they were talking about…"Series B"….yeah, sure. Like…money and investiing and stuff. But frankly I don't like it when writers use terms that their readers probably aren't familiar with. It's very frustrating to people who actually read. NB: Some people talk that way too… but that's another article.
It's frustrating because written communication doesn't have the benefit of the spoken word and face to face contact….i.e. visual signaling through eye contact, body language, and trial closes. For that reason, a writer who wants people to understand and appreciate what they're writing will seldom, if ever, use terms the reader isn't likely to know.
As the inquisitive guy I am, I did some research on the term Series B. That term simply refers to one of the earlier stages in the equity funding of a company (NB: "equities" usually refers to stock ownership, i.e. ownership interests or positions in a business entity).
Here is an informative page with some text which explains what Series B means and also has a very short video explaining the term. If you're a Markethive community member you would be wise to have an interest in such things because we´´ might be closer than most of us realize to being involved in such a thing…i.e. we might be doing our own Series B in the near future.
Another item from the article that I thought worthy of reiteration and illustration is the following diagram:
It thought it would be worthwhile to remind readers that the green circle is a type of site that most of us are already very familiar with. The green circle is social sites like Facebook. Our fearless leader, Tom Prendergast, CEO of Markethive, has recently pointed out something that many us already knew, i.e. the world doesn't need another Facebook. The majority of content on Facebook and similar sites is worthless drama, meaningless sabre-rattling and posturing, pontificating, and bullshit. The world really doesn't need any more time-wasters like Facebook.
The other type of site, the 'marketplace' type of site on the left side of the diagram, is a more recent development on in the internet environment. We know those too. They are sites like AliBaba, Amazon, and Etsy, and other, where vendors sell stuff. People go to these sites because they have a regard for the quality and/or service they get there.
The third circle, the blue one, is represented by a term that few people outside certain niches of the internet know… "SaaS" or 'Software as a Service'. This is simply a useful functionality of some sort which you use via your computer. The difference is that the software that makes it happen isn't on your computer. It's somewhere else.
What is unique about 'market networks', as represented by the confluence of these three circles, is that it uses SaaS to facilitate the connection between the networks of people (i.e. the consumers) to the marketplaces that have something they're looking for.
The market network also removes most of the burden of traffic generation from the vendors on the marketplace too. Traffic that they have previously had to acquire on their own, by more circuitous and laborious means, is now facilitated by the interconnection with the 'networks'.
For example, eBay, Amazon, and AliBaba sellers previously had to hustle to get attention to their 'stalls' in their respective marketplace. As I understand, on a market network site, the presumption is that their value proposition will be a bit more apparent and they will be able to focus more on their own quality and service and less on 'getting traffic' with the presumption that the consumer, i.e. the average dudes from the green circle, will have a better buying experience.
In my view, the most unique factor in this new marketplace paradigm is the software itself and the design elements of the systems themselves. Conceivably there could be some differences between various market networks relative to what product or service they actually deliver, i.e. consumer goods vs. travel services vs. financial services, etc.
One this is certain: People or organizations who can figure out and actualize these ideas will make a lot of money. In fact, considering that the term itself is brand-new, it might even be that there are some entities on the internet that are closer to already being a functional market network that even they themselves realize (Markethive.com?)
It's even conceivable that there could be market networks specifically for home based business opportunities…. keeping in mind that it is no longer true that a legitimate business has to even have a centralized geo-presence anywhere. It doesn't.
So, we see how the face of business is changing as the ways that buyers and sellers connect with each other. The internet has made this possible. Basic fundamentals indeed are changing and this is a good time for entrepreneurs who see it for what it is and/or are interested in pushing boundaries.
And it's also easy to see that these changes are probably pretty scary to established players who aren't very excited about having to go back to work to reinvent their business model.
To project a bit further into the future, just imagine what a new definition of 'money' itself will do the nature of entrepreneurship, business, and society. I'm referring of course to cyber currency.
If you're a home based business entrepreneur you will recall that over the last few years there have been several cyber currency scams in the MLM niche. All of them have gone down in flames. People apparently really 'ate it up' what they were offering.
I was one who wrote in several articles (with a previous employer) that I would never consider any cybercurrency centric MLM opportunity. But what would happen if somebody was able to really pull it all together, do it correctly and legally, and make the idea of cyber currency work in a Denentralized Autonomous Organization (DAO) encompassing Market Networks?
Depending on your perspective, these ideas are either fascinating and exciting or scary and foreboding.
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