In 1996, Microsoft founded what later became Expedia and spun it off in 1999. It shows that even Bill Gates couldn’t imagine that Expedia would become a $22b market cap giant in less than 20 years. And it demonstrates the power of the platform business model. Once you have a winning concept, you can scale it up massively in short amount of time.
If someone asked you “which company is the biggest one in the travel industry?” what would you answer? Maybe American Airlines? Or the Hilton hotel chain? They are some of the biggest players in this industry. Yet, Booking.com’s parent Priceline surpassed both combined by market cap, easily.
Learn how about Booking.com’s business model in-depth in the most popular strategy tool, the Business Model Canvas.
It will help you understand the platform business model which underpins Booking’s success. It will help you sharpen your innovation knowledge.