Just born placenta with umbilical chord. Embryo's side of placenta.
The placenta serves as an exchanger of materials betweens mother and fetus/embryo. It also serves as an filter between both organisms which is faciliated by perfusion of intravillus spaces. Furthermore the placenta produces the hormone gonadotropin which surpresses the menorrhoea, an essential mechanism to maintain pregnancy. Further picture: Placenta - from mother's side