This Week in Startups
E1010: TWiST Live! Thumbtack CEO & Co-founder Marco Zappacosta shares insights on pivoting to optimize for consumer experience, starting a company during the great recession vs. 2019, fundraising tips & the future of Thumbtack
Dec 17, 2019
In this engaging discussion, Marco Zappacosta, CEO and co-founder of Thumbtack, shares his journey of launching the marketplace just before the Great Recession. He reflects on the stark contrasts of running a startup in 2010 versus 2019 and provides insights on optimizing consumer experience. Marco highlights essential fundraising tips, emphasizing the importance of quality investors. He also discusses the gig economy's impact on employment and how Thumbtack is navigating the scarcity of trade workers, all while growing into a multi-million dollar business.
01:10:24
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Quick takeaways
- Thumbtack transitioned from a directory of service providers to an automated system, improving the customer experience.
- Marketplaces like Thumbtack have the potential to tap into infinite talent and create new opportunities for professionals to reach a broader market.
Deep dives
Thumbtack's Origins and Initial Investment
Thumbtack, founded by Marco Zappa Costa, started as a request-for-quote engine where users could request services and receive quotes from professionals. The initial idea was to create a directory of service providers, ensuring safety through background checks. However, this model proved to be insufficient as it did not generate enough options for customers. Thumbtack then shifted towards automating the process for professionals, allowing them to specify their preferences and qualifications. This change enabled customers to instantly receive tailored and actionable search results. The transition from manual requests to an automated system eased the burden on professionals and improved the customer experience.
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