Building an app? Download our pricing report!   Download

Launching is hard work, but if hyperlocal marketplaces works in one market, then it will work in hundreds more.

10 months ago | From andrewchen | Author: Andrew Chen

How to build a billion dollar digital marketplace – examples from Uber, eBay, Craigslist, and more

Marketplaces are easily underestimated

When marketplaces 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.

And yet marketplaces often start small, in niches and weird corners of the Internet. As we all know, when eBay got started in 1995, it was focused on collectibles.

An early investment in eBay would soon yield a 50,000% return from Series A to after the IPO, as the company started to help transact on everything from electronics, cars, homewares, and more.

Two decades after eBay was founded, a similar story unfolded itself, this time over Uber (my current employer!) and the taxi market. NYU Professor Aswath Damodaran asserted that Uber was overvalued after a 2014 investment round. Based on data points from the global taxi and car-service market, he concluded the real number should be $5.9B. Since the 2014 article, Uber has blown past his estimate by 10X, with top line revenues to support it. Not bad. The reason the estimate was so off, as investor Bill Gurley pointed out, is that Uber goes beyond taxi use cases and grows the market substantially by unlocking many new categories of transportation. Another example of going from niche into more use cases over time.

(As an aside, a slightly different flavor of the expansion of audiences and use cases leading to wild underestimates – this time my mistake: Why I doubted Facebook could build a billion dollar business, and what I learned from being horribly wrong)

Starting small, and what to do next
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.

       

What your peers are reading!

When a company understands its users as well as purple does, it feels like they have earned our trust
When a company understands its users as well as purple does, it feels like they have earned our trust
Added 10 months ago | As appeared first on Prototypr | Author: Justin Ramedia

Not long ago, I was trying to watch a video on YouTube. I got the expected “5-second till skipping” countdown and had my mouse hovering over the skip link, but the video was interesting. I laughed, so I figured I’d give it another few seconds to see what the product was all about. I ended up watc...  ...Read more


Companies looking to build consumer habits should know that monetization is a result of engagement .
Companies looking to build consumer habits should know that monetization is a result of engagement .
Added 10 months ago | As appeared first on Medium | Author: Nir Eyal

According to the New York Times, when Page looks at a potential company to acquire, he wants to know if the product is, like a toothbrush, “something you will use once or twice a day.” Page clearly understands habits. As I wrote in my book, “Hooked: How to Build Habit-Forming Products,” frequent...  ...Read more


When a startup company is visualizing their product, they tend to forget the moments a user has to wait.
When a startup company is visualizing their product, they tend to forget the moments a user has to wait.
Added 10 months ago | As appeared first on Hackernoon | Author: Wayne Chang

Contrary to MVPs, where the goal is to get something barely usable out the door and into the market for initial feedback, an MLP takes the opposite approach, treating, among other things, the first-time experience of a new user very seriously. This is the first time they’ll see your product, the...  ...Read more


Working for free is OK in the early days, but later, it gives you an excuse to just “do your best”.
Working for free is OK in the early days, but later, it gives you an excuse to just “do your best”.
Added 10 months ago | As appeared first on Medium | Author: Jason M. Lemkin

What are the Top 10 things I’d tell myself to do better, if I could go back in time? My top list: Slow down big decisions — when you aren’t sure. You have to move fast and break things, but if the pit in your stomach says “maybe don’t do that” — slow that decision down. My biggest mistakes ha...  ...Read more


If you release your product too early, users may write it off as not good enough and getting them back may be difficult.
If you release your product too early, users may write it off as not good enough and getting them back may be difficult.
Added 10 months ago | As appeared first on cbinsights | Author: cbinsights

From lack of product-market fit to disharmony on the team, we break down the top 20 reasons for startup failure by analyzing 101 startup failure post-mortems. WHERE IS THIS DATA COMING FROM? Start your free trial today Email Email SIGN UP After we compiled our list of startup failure post-m...  ...Read more


ARR can be the wrong metric to focus and it can provide a false sense of progress — a vanity metric.‌
ARR can be the wrong metric to focus and it can provide a false sense of progress — a vanity metric.‌
Added 10 months ago | As appeared first on Note Worthy | Author: Villi Iltchev

Annual Recurring Revenue (ARR) is the most frequently used metric in SaaS. Even non-recurring revenue startups use ARR when they want to describe the size of their business (which makes little sense, but that is the topic of another post). ARR is a simple and beautiful metric because it is easy t...  ...Read more


Top Mobile App Development Companies

GoVisual App Design & Development Company Profile, Apps, Reviews   
Go Visual App Design & Development

Apps must be user-friendly, perform well and look amazing. This is what we aim for when we design and build them. .more

Employees: 10
Founded: 2010
Technologies:   Android    iOS   
 Locations

Veenendaal, Netherlands

ThinSlices Company Profile, Apps, Reviews   
Thin Slices

Starting from an innovative idea, we deliver all the required technology to bring it to market: website, cloud powered application platform (Amazon AWS, Microsoft Azure) and mobile applications (iP...more

Employees: 50
Founded: 2010
Technologies:   Android    iOS    Windows Mobile   
 Locations

Iasi, Romania

Concentric Sky Company Profile, Apps, Reviews   
Concentric Sky

We help our clients turn ideas into applications that make sense. Our comprehensive, in-house team will use the power of design and technology to bring your ideas to life. We specialize in mobile a...more

Employees: 50
Founded: 2005
Technologies:   Java    Python    Android    iOS    MySQL    HTML5    Postgres    MongoDB   
 Locations

Eugene, US

Moobila Company Profile, Apps, Reviews   
Moobila

Moobila specializes in creating custom iPhone, and cloud-Based applications designed for your personal or business needs. .more

Employees: 27
Founded: 2010
Technologies:   iOS   
 Locations

Islamabad, Pakistan

Are you sure, you can find a capable, trustworthy & affordable mobile app developer, all by yourself?

Looking to Build a Mobile App?

Here are some of the best apps built by developers from our network.
TunerTool by inqbarna - App Development Company in Barcelona, Catalonia, Spain
  TunerTool
by inqbarna
iOS   
 4013
        
GreenVolts by RapidValue - App Development Company in Pleasanton, California, United States
  GreenVolts
by RapidValue
iOS   
 4125
        
Brickstr by DevelopmentNow - App Development Company in Portland, Oregon, United States
  Brickstr
by DevelopmentNow
Android    iOS   
 4434
        
Flitsmeister by GoVisual App Design & Development - App Development Company in Veenendaal, Utrecht Province, Netherlands
  Flitsmeister
by GoVisual App Desi...
Android    iOS   
 5725
        
     
About •  Careers •  How it works for Developers •  FAQ •  Contact •  Blog •  RSS

© 2012 - 2017 ContractIQ   Terms of Service   Privacy Policy