5 Questions to Ask While Building Your Marketplace Platform
▻https://hackernoon.com/5-questions-to-ask-while-building-your-marketplace-platform-aed27f86555?
Building a marketplace setup is a tough nut to crack — and this is no breaking news.Although the model works extremely well at scale — for example, eBay, Airbnb, and Uber, among others — but getting to scale is another challenge altogether.It’s not something that’s achieved overnight, or without thorough planning. For instance, it took Wattpad, a community of writers and readers, around three years to get 300,000 uploads. Then, it took them only three more years to reach the 10 million mark. Similarly, the crowdfunding platform, Indiegogo, was founded in 2007, but it took them four years for their first big break.However, building an online marketplace does seem like a lucrative business option. Even more so, when you realize that global #marketplaces are set to own around 40% of the online retail (...)
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