Norwest hosted an intimate dinner for 25-30 of the leading CEOs and CXOs in emerging and established marketplace companies including Lending Club, Udemy, eBay Stubhub, Instacart, Zillow/Trulia RelayRides, Minted, Thumbtack, Houzz and Uber to share common best practices and collaborate. The evening was filled with lively conversation about highly relevant topics for marketplaces including such topics as:
- What on-demand business concepts really can develop into viable businesses, and which are just gimmicky and without real potential? How can you judge the difference?
- What is the appropriate boundary between curation and volume/diversity? How do you curate so that your selection is high-quality yet big and diverse enough to bring in lots of traffic?
- What types of on-demand businesses will emerge outside San Francisco — in other cities and in less cosmopolitan places — and how will they scale outside cities like SF and New York?
- How much control and restriction should online-marketplace companies exert over buyers and sellers? From a very basic level, such as demanding a buyer’s or seller’s name, to more complex controls?
- In service marketplaces, what are best practices for ensuring the quality of the end service for the consumer?
- What are best practices for ensuring trust and safety in online marketplaces?
Read more in Wired from Sergio Monsalve about “How Sellers Will Make or Break Your Online Marketplace” and Jeff Crowe on “Three Traits of Successful Online Marketplaces.”