Building 2 Sided Marketplace

It s all about learning experiments and new experiences.

Building 2 sided marketplace.

You can build a two sided marketplace regardless of the industry you are in. Recently our team was creating a two sided marketplace platform and we have some insights worth sharing. Two sided marketplaces are those that bring two user groups together to help them get network benefits from each other and generate economic value. Gumroad is a two sided marketplace for digital goods.

Companies like ebay in ecommerce facebook in social media advertising uber in transportation industry and upwork in gig economy and dating apps are all examples of two sided marketplaces which serve the interests of multiple audiences like manufacturers wholesalers. The platform doesn t own the supply chain of value but rather controls the network of third party producers of value and the consumers coming to the platform to consume that value. How we built a two sided marketplace at clockwise software a software development company has a handful of benefits including the chance to work in various spheres. If you try to appeal to everyone you will end up appealing to no one.

The platform also has other features that help sellers such as giving the store a blog and customer analytics. Trying to target a market opportunity that is too big or take on a competitor head on is a recipe for failure. Probably the most important overall strategy for building a two sided marketplace is that you must start with a niche. A two sided marketplace lets parties of producers and consumers interact with one another and creates network effects between them through a platform intermediary.

The purpose of a two sided marketplace platform is to facilitate interaction between providers and customers. The two sided marketplace business model double sided markets create value for all parties. The service allows creators to set up a digital store and collect payments.