Platform Models Are Coming To All Industries
Written By: Barry Libert & Megan Beck
Just when we thought we were reaching the end of the unicorn parade, a new company has joined the ranks of billion dollar startups. Last week, we saw the announcement of RigUp and its $300M growth financing by Andreessen Horowitz. Now valued at $1.9B, RigUp connects oil rig workers with rig operators. Although many may have thought that Oil & Gas were relatively safe from business model innovators, apparently no industry is safe from the growth of platform business models—and the unicorns that are capturing all the capital, talent, suppliers and customers. Unfortunately, most corporate leaders and boards of legacy firms think that platform businesses aren’t coming to their industry or seeking a foothold relationship with their customers or suppliers. Yet still, platform business models are emerging in every industry seeking to disrupt every industry stronghold.
