Andrew Chen who works on growth at Uber wrote an interesting essay on how to build a marketplace. He talks about how to own a niche, the way Airbnb, Uber and Craigslist did it and then grow from there. He identifies 4 ways to make the leap from being a big fish in a small pond to being an even bigger fish in a big pond.
- Expand into new geographic markets
- Add new products and price points
- Decrease friction from signup to successful transaction
- Grow supply + demand stickiness
All in all it's a very interesting article with some nice insights from Andrew. Check it out