Uncovering the Nature of Platform-based Business Models: An Empirical Taxonomy

Abstract

Digital platforms increasingly determine the 21st century business world. This is especially reflected in the development of multi-sided platforms such as Airbnb or Uber that depict the centerpiece of innovative business models as they effectively match demand-side and supply-side participants through advanced technologies. Such marketplace platforms substantially contribute to an emergence of new ecosystems. However, we do by now not know much about the characteristics of the underlying innovative business models. To close the gap, this research develops a conceptually and empirically grounded taxonomy of marketplace business models. The paper is based on a dataset of 100 marketplace firms and presents an analysis of the business models of these firms based on different cluster analysis techniques. As a result, basic types of marketplace business models are identified and characterized. The paper contributes to a better understanding of platform-based business models and opens several avenues for studying their interplay with ecosystems.