Less than a year ago, I wrote that Viadeo’s market cap had dropped below the sum total of private equity money raised before its IPO – the company was struggling to produce revenue in the wake of LinkedIn’s global adoptions, and the only market it was seeing real adoption (China), wasn’t going to pay divends in the near future. Now, less than a year later, Viadeo’s market cap has nearly halved, trading around 4€/share at the time of this post (the company IPO’d at 17€/share last year).
Looking for new life, Viadeo announced the release of a freelance marketplace, allowing its nearly 700,000 freelance users to seek work on the platform, posted by other users. The tool, which costs freelancers 19.90€/month, functions differently than platforms like freelancer.com or upwork (previously elance-odesk), which manage payments between freelancer & employer and take a cut of the work provided. Unfortunately, when I visited Viadeo Freelance, I was unable to see any jobs currently posted, though it was not clear whether I needed to pay to see the jobs or not.
When I spoke last year of Viadeo’s situation, insiders said that Viadeo could only go up; however, Viadeo has not only been unable to show that it can monetize its user base, it has been unable to show that it can provide users with a reason to use the service at all.
Struggling, Viadeo seeks new life in the freelance market