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Building a Marketplace Business

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Co-Founder & Chairman of Udemy shares his insight on how to build a marketplace business. …

Co-Founder & Chairman of Udemy shares his insight on how to build a marketplace business.

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  • 1. How to Start a Marketplace! Eren Bali, Chairman & Co-founder of Udemy!
  • 2. ! Marketplace for Online Courses
  • 3. ents Million shed Courses Thousand ses Completed 2 Million Hours ed 8 Million
  • 4. Why!
  • 5. Desire To Learn + Internet = Hope!
  • 6. The Big Vision! Let Anyone Learn ! Anything Online!
  • 7. Let Anyone Learn Anything Online! 100’s of Millions of People Around The World 100’s of thousands of different subjects, different languages
  • 8. Marketplac Technology! Community! Brand! Operations!
  • 9. … and also! Strong Network Effect! High Competitive Barrier! Scalable Business Model! Blah blah!
  • 10. Designing a Marketplace!
  • 11. he Service Chain! Connect Supply & Demand: Marketplace + Supply! Discovery: Decentralized vs Curated vs Centralized! Pricing: Decentralized vs Centralized! Payment: Decentralized vs Centralized! Service / Product: Supply! Customer Experience: Decentralized vs Centralized! Support: Decentralized vs Centralized!
  • 12. Centralization vs Decentralization! tralized Ce
  • 13. The Spawn of Craigslist!
  • 14. Getting Initial Traction! ? ? (a.k.a. solving the chicken-egg problem)!
  • 15. Liquidity isn’t the most important thing. It’s the only thing. Simon Rothman, Greylock Ventures
  • 16. Do Things That Don’t Scale! Paul Graham, YCombinator
  • 17. ake The Chicken! rovide value via uration and user xperience
  • 18. e Your Own Supply! (First 3 paid courses on Udemy. They were created by us)
  • 19. ocus on a Segment à Expand! bay: Collectibles acebook: Harvard elp: Restaurants in San Francisco ber: Luxury & San Francisco
  • 20. ave Your Supply Bring Demand!
  • 21. reate Success Stories!
  • 22. More Early Growth Ideas! Provide a Utility Function! –  OpenTable! Leverage 3rd Party Channels for Distribution! –  Udemy à Daily Deal Sites and Newsletters! –  AirBnb à Craigslist! Provide a Magical Experience to Early Users
 (Tip: Doesn’t Need to Scale)!
  • 23. Once You Have Critical Mass!
  • 24. 
 
 enjoy it ;)
 
 
 !
  • 25. dditional Reading! http://techcrunch.com/2012/08/19/how-to-structure-a-marketplace/! http://firstround.com/article/How-Modern-Marketplaces-Like-Uber-Airbnb- Build-Trust-to-Hit-Liquidity! http://abovethecrowd.com/2012/11/13/all-markets-are-not-created-equal-10 factors-to-consider-when-evaluating-digital-marketplaces/! http://cdixon.org/2012/11/23/some-problems-are-so-hard-they-need-to-be- solved-piece-by-piece/! http://thegongshow.tumblr.com/post/345941486/the-spawn-of-craigslist-like most-vcs-that-focus! http://www.forbes.com/sites/groupthink/2013/04/02/how-to-grow-a- marketplace/! http://growthhackers.com/companies/belly/!
  • 26. Thanks! @erenbali!