A Digital Marketplace is an implementation of the 'Platform Business Model'.
Coined through popular books like Platform Revolution and Tim O'Reilly's vision of 'Government as a Platform', the approach primarily refers to building multi-vendor marketplaces rather than traditional resourcing, exemplified by ventures like Airbnb and Uber Taxis.
The model itself is generic and can be applied to any industry or scenario, and our best practice section offers an ebook, introducing and explaining the Platform Model and with supporting Youtube video library, and then a repeatable implementation guide, including technical blueprints and business architecture capability models.
Based on industry pioneers like Netflix, this section details a framework for the central technology architecture for the Platform Business Model, the Platform API.
This includes a focus on industry and solution-specific API programs, such as those for enabling adoption of NFV solutions, mainly intended for the Telco industry.
Business Model Canvas - Envisioning Platform Models
A Platform API only provides the mechanics of the model, and many attempted implementations have failed, so it is not a guaranteed recipe for success. In short it can be built on but still needs original and creative thinking in terms of the new business models it can be used to achieve.
This selection of Youtube videos offer examples of such an envisioning process for the Platform model, to populate a Business Model Canvas based on these principles.
Other recommended reading includes:
- From Product to Platform - McKinsey explore successful Platform models, that transition from traditional products.
- 20 API models in 20 mins - John Musser, CEO of API Science and founder of ProgrammableWeb, discusses the progression of API business models and offers examples of companies that have successfully matched their strategy with the appropriate model. (also shared via this Slideshare presentation).
- Real API Models that Worked - ProgrammableWeb explores a number of startup scenarios that successfully employed an API model.
- Insights from the 2016 Platform Conference - Speakers from Google, Microsoft, Airbnb, Spotify, Volvo, and other companies offering broad insights into API scalability, future reliability, and use case assessments of fine grained technologies like microservices, GraphQL, serverless architecture and more.