[Article] How to build a billion dollar digital marketplace – examples from Uber, eBay, Craigslist, and more
"Marketplaces are easily underestimated and when they get big, they can get really big. Some of the biggest tech successes ever – eBay, Airbnb, Alibaba, Uber – are marketplaces worth tens of billions of dollars each.
In both the eBay and Uber examples, we see that you can start with a niche – whether that’s a geography or product line – and then quickly scale into a huge network of buyers and sellers.
It turns out that there are a couple key moves to make this happen, and today I’ll highlight some of the main strategies with examples across the past few decades:
• Expand into new geographic markets
• Add new products and price points
• Decrease friction from signup to successful transaction
• Grow supply + demand stickiness
Let’s dive into each one."
- Andrew Chen, Growth at Uber
Reading time: 7 minutes
"Yesware is a sales productivity tool built from the ground up to help salespeople sell more. Yesware connects directly to a salesperson’s inbox and calendar to help them manage their opportunities with features like email tracking, reminders, and templates.
In the beginning, the product team set up their own reporting against a SQL database to capture important metrics like the total number of users and the total number of new users on a weekly basis.
In addition to measuring the success of new features, the Yesware team uses Interana keep a pulse on real world usage by their users and understand how effectively they’re converting people from trial users to paid subscribers
It’s not just the product team that uses analytics at Yesware. Engineering, design, customer success, sales, and even the executive team use Interana to better understand behavior."
- Mike Dupuy, Marketing Consultantat Zycada Networks
Reading time: 4 minutes
"Consumer companies scale to millions of users by getting people hooked on the product. Some favorites—products like Facebook and Snapchat—build features into their product that help users do more and keep coming back.
Innovative and fast-scaling companies like Trello, Airtable, and Digital Ocean have already started adopting a “product-led mindset” and driving growth based on how users are engaging with their products. This involves three major tenets:
• Bottom-up engagement, not top-down engagement
• Proactive help within the product, not reactionary help
• Encouraging current users more, not moving up-market
Here's how companies can create truly sticky experiences and start scaling fast by finding ways to consumerize their business products.
When users can get in a product and start seeing how useful it is for themselves, you don't need to spend as much on sales and marketing. Your margins increase and your cost of goods goes down. You create product evangelists that can push growth through word-of-mouth, in the same way that consumers create viral spread of consumer products."
- Jonathan Kim, Founder at Appcues
Reading time: 11 minutes
"Although Cloudflare claims that over 10% of all HTTP traffic passes through its servers, it’s a company that relatively few people have heard about and even fewer truly understand.
In this post, we’ll look at how Cloudflare has grown from a self-serve, low-cost developer product into a pre-IPO business that's become an integral part of the Internet in just 7 years.
The company's recent limited launch of Cloudflare Stream, an end-to-end video streaming offering that covers encoding, delivery, and player in one package, is a sign of Cloudflare moving up the stack and onto the next stage of its growth by using existing scale to compete on business model in a way competitors can't copy."
- The Reforge Team
Reading time: 5 minutes
"It seems every company these days is embracing a customer-centric strategy and talking about optimizing the customer experience. But it’s impossible to do either of those without truly understanding everything that the customer experience encompasses.
Over the last few months, Aptrinsic founders (Nick Bonfiglio and Mickey Alon) and I wrote a book on how SaaS companies can deliver more a personalized product experience with a product-led go-to-market strategy.
Defining customer experience was the first step. Customer experience (CX) is a perception a customer has about a company based on all touchpoints, interactions, and engagements with the company, its brand, and its product.
Naturally, the question surfaces: What do you mean by touchpoints, interactions, and engagement?"
- Myk Pono, Head of Marketing at Aptrinsic
Reading time: 6 minutes
In this Video, Ryan Smith CEO of Qualtrics and Stewart Butterfield Founder & CEO of Slack are talking about product experience.
But prior to this, Stewart Butterfield takes us to the origins of Flickr and Slack and exposes how he got here today.
- Stewart Butterfield, CEO & Co-Founder at Slack
Viewing time: 28 minutes
"Netflix had enough data to suggest that a show bringing together all of these different elements would be a success. Now Netflix is going meta, actively experimenting with their own original content with The Defenders.
Netflix is confident because they have the data to support their decision to put all four characters in one series, but the experiment goes much deeper than whether or not the show will succeed. Here’s why The Defenders is a unique data experiment that will drive content innovation even if the show fails.
Behavioral analytics is at the center of Netflix’s decision-making from recommending programs to deciding which shows to produce to actual creative direction like talent casting. Netflix relies on this type of data because behaviors never lie. In the past, companies relied on surveys to get a feel for what customers wanted"
- Archana Madhavan, Director of Content, Interana
Reading time: 6 minutes