James Currier first described the concept in NFX as combining the capabilities of transactions across multiple buyers and sellers (e.g., eBay, Craigslist), with network identities and relationships (e.g., LinkedIn), and collaborative workflows (e.g., Slack).1
Market networks focus on more complex services; the types of services that require more human collaboration or benefit from being part of a network.
Burket is a market network because of following attributes2:
-Combine the main elements of both networks and marketplaces
Find products and services and connect to buyers and sellers in Burket
-Use SaaS workflow software to focus action around longer-term projects and relationships, not just a quick transaction
Burket will integrate a vendor management solution into the platform which will enable businesses to accredit suppliers and conduct biddings
-Promote the service provider as a differentiated individual, helping to build long-term business benefits
Burket provides profile pages for companies to showcase their products and post updates
-Transaction fees are usually lowered, and legal contracts are simplified
Burket is free and we don’t charge commissions.
-Market networks have stronger retention and engagement than marketplaces
We envision Burket as the de facto platform for suppliers to connect with buyers