What are the benefits and challenges of adopting a platform business model in a competitive market?
A platform business model is a way of creating value by facilitating interactions between two or more groups of users, usually through a digital platform. Examples of platform businesses include Airbnb, Uber, and Facebook. In a competitive market, adopting a platform business model can offer many benefits, but also pose some challenges. In this article, we will explore some of the advantages and disadvantages of this approach, and how to overcome the potential pitfalls.