From Apple to Amazon, Google to WeChat, digital platform-based ecosystems have become increasingly dominant in the last decade. However, while these businesses may all seem to follow similar models, there are in fact major differences between different types of platform companies.
Specifically, through our recent research into Beijing-based electronics giant Xiaomi as well as secondary research into other leading companies, we identified three distinct strategies: Corporate Venture Capital (CVC), ecosystem, and a new, blended approach that combines elements of both ecosystem and CVC organizations.
The CVC Approach
Perhaps the most traditional approach to expansion is through CVC: An established corporation …
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