The next wave of startup growth is taking shape on the edges of the big companies, and one company is already making an impact: a new breed of marketplace management startup called MarketMasters.
The startup’s mission is to help companies manage the growing impact of their customers’ behavior, with the goal of providing an integrated and personalized service.
MarketMaster’s CEO, Josh Fagan, is also the co-founder of the digital media startup ProShares.
The two met through their respective companies, Fagan said, and were both drawn to the same thing: how a digital marketing firm could take advantage of the rapid evolution of social media.
“We realized we could make a great business from that perspective,” Fagan told Recode.
The goal is to leverage existing digital marketing platforms like Facebook, Instagram, Pinterest, LinkedIn and Snapchat to make their platform even more useful.
“The problem we’re running into now is that a lot of the businesses that have been around for a while are not necessarily in the right space for that to be successful,” Fagon said.
MarketMaster is trying to make that happen.
The company’s founders have spent the past few years trying to build an online marketing platform that combines all the features of an online marketplace, including social media marketing, analytics, product placement, social marketing and more.
It’s also built around the idea of making the platform more like a store, Faganson said.
It’ll have an online store, an in-person store, a mobile app and a desktop app.
The desktop app will let users buy, sell, customize and schedule the products they want, and they’ll be able to sell those products to customers across the entire world.
The mobile app will be a great way for businesses to connect with customers and find ways to get them to buy their products, Fagganson said, while the desktop app can be used to get customers to sign up for the company’s services.
It also has a platform for companies to hire freelancers.
“It’s like having a cloud,” Faggson said.
“You can put your customers in a space and have them get connected and have an integrated experience.
It lets them shop online for products.”
In order to make it more like an online market, Fagsons team also wants to incorporate a lot more analytics into the product placement.
The team also thinks that the desktop and mobile apps will offer a way for companies that have already built up a loyal following to reach a broader audience.
Faggons team is also working on the mobile app for a time, but he said he expects the company will have the full product placement service ready in time for the holiday season.
“Our focus right now is on building the product placements platform for the desktop,” Fagans team said.
And for now, that means bringing in a lot less revenue.
“Right now, we’re only making about $2,000 per month in revenue,” Fagsanson said of the startup’s initial investments.
“In a year or two, we’ll see us making $20,000 a month in profits.
But we’re definitely aiming to get to that level in a year.”
He noted that there are a lot factors that will decide whether or not MarketMarks future success.
“If it’s just a couple hundred people, it’s not going to have a huge impact,” Fagen said.
If it’s a million people, there will be more opportunities for people to sign-up and that will be huge.
But if it’s tens of millions of people, then there will also be opportunities for new players.
“And the bigger the audience, the more opportunities there are for people that are new,” he said.
Fagson added that MarketMarts business model is to build a platform and then work with the companies that are already using it to build out their own products and services.
“People that are trying to do this for the first time are going to find it difficult to get their product to scale,” he added.
“That’s where our focus is.
We’re not trying to have an end goal, we want to build our own ecosystem.”
The company has a number of other plans in the works for the coming year, but Faggs said he isn’t ready to talk about those just yet.
The next major thing for the team is getting into the space of product placement in more depth, and building out a broader platform, Fagen added.
But it’s unclear just how much of that will take place in the coming months.
“I think we’re going to need to do some of the initial work in the first quarter of next year,” Fagin said.
The biggest unknown, of course, is what kind of business the platform will become.
Fagan noted that MarketMaster has had a very slow start to its journey, but that it is on track to make some money in the future.
“As we get closer to the launch, we see a