Marketplace Platform Evolution

Marketplace platforms evolve over time.

Platforms start by connecting buyers and sellers.

They follow with additional services such as ratings and reviews, background checks on the buyers, and quality control on the suppliers.

Over time, the marketplace can evolve further by moving into delivery of the products and services.

By controlling the delivery, the platform can control the overall customer experience and obtain additional revenue.

The platform could also expand into providing supply.

Finally, the platform could evolve into a data analytics platform providing key insights into purchasing trends.

It all starts with matching buyers and sellers but that’s only the beginning.

 

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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.