Faces of the Future profiles the the most influential and innovative entrepreneurs transforming our world.
In this episode, we chat with Marco Zappacosta, the CEO of the unicorn Thumbtack.
As I sit in the front seat of my Lyft, inching forward on NYC's Madison Avenue on a sweltering June day, I take a break from writing this article and look up to see a prominent ad for Uber plastered on the back of a public bus, promising $5,000 a month to new drivers. My weary driver, sensing my amazement, quips: “Read the fine print - it’s says ‘gross income’ and they only promise for the first month.”
Silicon Valley has high hopes for companies powering the gig economy, funneling billions into startups like Uber and Airbnb, which promise to supply able individuals with a steady, reliable income. However, that hasn’t been the case for many people, with many ride sharing drivers earning a low as $11-$15 / hour.
However, one company, Thumbtack, hopes to provide trained professionals with a meaningful source of income. The story began in 2009 when four friends—Marco, Jonathan, Sander, and Jeremy—noticed a problem. Customers needed help connecting to qualified, local professionals. The same professionals needed customers. As a solution to bring the two together, Thumbtack was born. In short, Thumbtack makes it easy for you to find the most qualified plumber, fitness teacher, interior designer, or any other local professional in any of the 1,000+ services they support. It aims to be the Amazon for services: the one place to go to solve all the services needs you have.
8 years and lots of blood, sweat, and tears later, Thumbtack is revolutionizing the gig economy. In the words of the company, they’re reshaping local economies, changing lives, and getting things done. They’ve helped millions of individuals complete projects and have generated over $1 billion for the 250,000+ professionals on its platform. Pros earn a mean income of $75,000 and on average, about $70/hour. Boy, what a great time to be alive.
From having officiated more than 215,000 weddings to rented out 150,000 photo booths, Thumbtack is playing an integral role in the lives of millions across the nation. Companies like these emerge only a handful of times in a generation and Thumbtack's future looks promising. Having raised close to $275 million, it’s hard to imagine the company was rejected by venture capitalist 42 times when seeking Series A funding in the fall of 2011.
Watch my interview below with Marco Zappacosta, the CEO of Thumbtack, to learn everything, from how it all began in a rented house with just a few buddies chasing their dream and a bank account teetering on zero to how it’s now the leading disruptor of the $700 billion local services market.
Office Photo Tour:
The entrance to Thumbtack HQ, located at 1355 Market St, San Francisco - the same building as Twitter HQ.
A wall dedicated to the hundreds of thousands of tireless professionals who make Thumbtack possible.
Just a small glimpse into the expansive open floor plan at the new office, capable of accommodating a staff of 600 dedicated team members. I love the standing desks on every table - employee treatment taken to the next level.
The office is subdivided into spaces dedicated to teams for the 1,000+ services the platform supports. I love the variety in services offered in just the personal category, from Astrology to Genealogy to Private Investigation. Quite simply, it simply reinforces the company’s mission to be customers’ one-stop-shop for hiring pros in all aspects of their lives.
The lobby. Better decorated than most homes. Need I say more?
This isn’t your ordinary high school cafeteria. Serving up gourmet meals, the in-house chefs cater to all palates. Free breakfast, lunch, and dinner for employees. My envious tastebuds could sense the freshness in the air.
Employees can always get their coffee fix, with a special room dedicated the beverage. Now, all they need is a bar and bartender, which can’t be too hard to find considering Thumbtack’s site told me there are, “65 Bartenders near you.” Speaking of which, I was quite impressed by context-specific questions the site started asked me when I started the free quote process, like “What kind of an event are you hosting?” and “What kinds of beverages would you like served?”
“Open for Business” - The sun never sets on the Thumbtack empire, which spans every county in the country, save for 2.