If you're on the internet right now, you've probably come across the term "marketplace." Online marketplaces are, without a doubt, the internet's future. In fact, the collaborative economy receives more funding than Facebook, Twitter, Linkedin, and other social media platforms combined. Isn't this fascinating? Yes, however, most entrepreneurs are unaware of a marketplace website's revenue or business plan. The purpose of this essay is to explain what goes on behind the scenes of the online marketplace. Model of commission: In general, the marketplace operates on a commission-based premise. The fee is deducted from the transaction between the client and the provider in the commission method. The marketplace facilitates the transaction and delivers the value to the supplier once the customer has completed the payment procedure successfully. For the entire process, the marketplace charges a proportion of commission. The proportion is determined by the market...
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