How to build an Online Marketplace
The shared economy has taken the world by storm. Ever since the launch of ridesharing apps, room sharing portals, peer to peer lending platforms, the shared economy revolution keeps growing. We are witnessing an enormous demand for establishing and managing marketplaces. Here we explore how to build an online marketplace to create a value proposition for end users by mapping supply & demand.
An online marketplace could be an ecommerce portal where multiple vendors can sell or rent their goods or services to customers. Some very common examples of online marketplace are Amazon, Alibaba, Airbnb, Uber, and eBay. These online stores are considered to be online marketplaces because there are many suppliers who can sell their products or services to the customers who demand them.