Top 10 best platform business model examples
Today six
out of the 10 most valuable companies in the world are platform businesses we
have
Apple
Alphabet
Amazon
Facebook
Tencent and
Alibaba
advises
companies on their strategy,
the
platform business model is something that comes up with most of my clients,
In this
article we explore what makes platform businesses so powerful and look at
examples of the most successful platform-based companies in the world.
What a
platform business is platform businesses focus on facilitating interactions
across a large number of users or participants,
these
interactions could be short-term transactions,
like
connecting buyers and sellers long-term collaborations to achieve shared
outcomes,
a platform
business typically doesn't create or own inventory like a traditional business does,
the
platform itself including proprietary user data or software is the asset,
Used in
this context the term platform simply means an interface,
where
separate groups of people come together to exchange some kind of value that benefits
both groups,
the
platform typically creates large networks of users that other users can tap
into,
whether
it's a driver looking to find people who need a ride like an uber's case,
someone
wanting to connect with a friend or other community members,
such as facebook
or a business looking for contractors to outsource outsource work to like
upwork,
even if
your current company isn't a platform business,
it's a trend
worth paying attention to there are many opportunities for you to introduce a
new business build on a value-adding platform,
or to pivot
to a platform model.
Let's look
at my 10 favorite examples of platform businesses
Amazon This giant marketplace brings together groups
of merchants and consumers.
Facebook The facebook platform owned by meta allows advertisers to connect with a massive user base.
Apple Apple enables interactions between consumers
and the software developers via its app store
Fiverr freelancers and contract workers connect with
businesses and individuals that are hiring on the fiverr platform.
Instacart with the instagram app users can select their
favorite grocery store choose their items and then an instacart worker will
purchase the selections and deliver them in as little as one hour.
Github github which was acquired by microsoft in 2018
for 7.5 billion dollars is a collaboration platform for software developers,
who want to
manage their coding projects in one place share projects with others and track
changes as multiple people work on the code.
Just park Just park has reinvented parking by connecting
drivers who need somewhere to park with people,
who have a
spare driveway or parking space somewhere.
Zipcar People in cities or on college campuses can
get access to a car only,
when they
need one by borrowing a transport through zipcar.
Utest Utes lets you crowd source usability testing for websites games apps and
services,
crowdsourcing is obtaining information or input into a particular task or project by enlisting the help of a large number of people online.
Wax Marketplace Gamers can buy and sell virtual accessories
like nfts or non-fungible tokens, gaming, skins and weapons in the blockchain
trading platform wax marketplace.
I hope that
these examples illustrate that the platform business model is incredibly
powerful and lucrative,
long term
these types of businesses will continue to dominate the market,
even if your
business is a traditional linear business,
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