Prime is the subscription service that changed online shopping. Prime membership in the US hit 103 million. And Prime users spend 2.3x more than non-prime users. Amazon has bypassed Google and become the starting point for online shopping. It’s a loyalty program like no other.
Companies are constantly told that growth is all that matters. For start-ups, growth is priority #1. They are advised that the only thing that matters is the speed of growth. According to Paul Graham, a good growth rate during a startups time at YC is 5-7% a week! For marketplace startups, this speed of growth … Continue reading Scaling marketplaces, one market at a time
Marketplaces are appealing for entrepreneurs and investors because - at scale - they are very hard to disrupt. But before your marketplace can get to scale, you need to solve the chicken and egg problem - figuring out who to bring first - buyers or sellers; producers or consumers; supply or demand. That’s why building … Continue reading Solving The Chicken And Egg Problem In Marketplaces