Fivesquid.com

Fivesquid.com is a British-based freelance marketplace website where people can trade skills and services.^[1] First launched in 2011, the website hosts a variety of services, from tech jobs like SEO specialist advice to bizarre things like having a man with a parrot produce a quick clip advertising a business.^[1][2] Buyers of services are mainly start-up companies looking to save on business costs.^[3]

History

Fivesquid was originally launched in 2011. Following its release, Theo Paphitis selected the company as a start-up company to watch as part of his Small Business Sunday competition.^[4] Since the websites launch in 2011, it has been recognised by the media for some of the services people sell. Service sellers have also included celebrity Kitty Brucknell, who previously performed on the UK version of the X-Factor, offered to send you a voicemail for £5.^[5]

In March 2012, the website featured in a list of top 10 companies to emerge from the UK recession. Fivesquid featured fifth on the list and was highlighted as the example for selling cheap online services.^[1] Throughout the sites history, it has had some strange services offered. In 2012, a entrepreneurial schoolboy from England offered his services as an online gaming bodyguard, at £5 per 30 minutes of gameplay.^[6] Another unique service was published in The Sun, where a seller would dump your partner for £5.^[7]

After the website had been established a number of years, some began to question the services available on the site. One example used by the London Standard was services that could manipulate social media popularity.^[8] Others around the same time stated that many of the service providers are simply out to make extra revenue on top of their main income stream.^[9]

The Gadget Show picked the website as one of their top 3 places to buy gifts online.^[10]

Site structure

Services sold via the website are referred to as "micro-jobs", due to the low prices and short completion time typically involved. All micro-jobs fall within 4 payment structures of either £5, £10, £20 or £50.^[11]

Payment for services must be made upfront in order for the work to commence. Fivesquid holds the funds in an escrow account until the service has been delivered by the service provider and the buyer marks the order as complete.^[12]

The service providers range from those practicing a hobby to small companies who are attempting to grow their client base.^[13] At the completion stage of each project, Fivesquid take a 20% commission payment from the total value, before releasing the funds to the service provider.^[14]

References