From the Co-Founder and CTO of DataMarketplace.com, Steve DeWald:
Data is one of the most valuable assets in the world. We use it for decisions every day, and enormous industries are built around compiling and organizing it. It costs almost nothing to share, but despite that there is no single pervasive marketplace for buying and selling data. That’s the problem we tried solving with Data Marketplace.
It’s a problem because the fragmented nature of data creates friction for those wanting to share it. As a seller of data, there’s no easy or standardized way for to monetize it. Often times the expectation is to sell it in an expensive research report and have the raw data separately available by request.
That’s fine, but that’s only capturing a fraction of a fraction of percent of all the useful data that people could be selling. Likewise there’s a lot of data people want to be selling that potential buyers can’t find. As a consumer of data, I often search on Google for the data I’m looking for, though frequently the data I want is behind a pay-wall and keywords are not being properly indexed for search.
All these problems could be solved for the betterment of humanity with standardized and open marketplace for data.
Although Matt and I have moved on to other projects (I’m selling custom made suits online), I am happy to be putting our work in the hands of the talented team at InfoChimps, which has built the world’s largest open marketplace for data.