Jade Magnet changes from contest based to managed crowdsourcing model

April 25, 2013 - PRLog -- Jade Magnet - perhaps India’s first creative crowdsourcing company, starting in 2009 - has announced pivotal changes in its business model. Starting out as a creative contest platform, primarily delivering logo and website designs for small and medium businesses, Jade Magnet executed close to 2500 for about 1100 businesses in a little over 3 years. It also grew its provider network to about 12,500 creative people. But now, the company has made a move to the “Managed Crowdsourcing” model with a more selective “crowd” of a few hundred designers, writers and technologists.

Managed crowdsourcing is a relatively closed model - project execution is handled by dedicated, but virtual, teams built of members coming together from different geographical locations on to a single platform. These execution teams are curated on the basis of expertise needed by the project and in the initial - conceptualization - phase, multiple creative people are involved in generating options for the customer. The customer and client partner then pick the most suitable concept for the execution team to work on.

Jade Magnet was founded by Manik and Sitash - both coming from a technology background with experience in sales and consulting respectively. Perhaps that’s how they put together teams that are able to add deeper technology to creative solutions.

“Moving from contest-based crowdsourcing to managed crowdsourcing is a natural course of action for us. Businesses were using us mostly for small projects at low ticket sizes. But the new model gives us enough creative bandwidth to deliver complex & long-term projects at a higher scale than the traditional model. Managed crowdsourcing is here to stay!” confirms Sitash.

“We’ve seen over 1100 clients use our crowdsourcing platform in the last 3 years, but now we are starting to enter into relationships with bigger clients. Also, the kind of work we are doing is more pivotal for our clients’ businesses. We are trying to have a deeper impact and that, of course, also ensures higher and more assured revenues for us.” says Manik.