The Online Marketplace Advantage

Conclusion: The Marketplace Revolution Rolls On

It's stunning how dramatically the story around marketplaces has advanced in a single decade. In our early days, working from a cramped office in Paris, we were pitching something bold and new. When we approached company executives with our message about the coming marketplace revolution, a good number scurried in the other direction. While many of them shared our vision of a vibrant commercial world, one not dominated by a handful of digital giants, they didn't yet feel the urgency to transform their businesses. They weren't in the market for a revolution, or ready for one – at least not enough to entrust a crucial piece of their strategy to us.

The growth of dominant pure‐play marketplaces, we insisted, could be parried only by a new generation of marketplaces mobilized by top enterprises. When customers grow accustomed to near limitless selection, efficient payment and prompt service, there's no going back. We believed this fervently, and we still do.

In those early days, however, online marketplaces were a hard sell. The executives we talked to often conceded that our pitch made sense. It was true that customers, whether business or consumer, wanted greater efficiency and transparency, and more choice. But the solution we were selling was disruptive. And if you have a business that's chugging along and even earning profits, why place a big bet on a business model that's bound to shake everything up?

What we needed as a startup ...