Sam Parr: Marketplace Startups Only Succeed by Focusing on Specific Niches
Sam Parr · University of Michigan Students Pitch Us Their Startups | $5000 Prize Money (#396) · Dec 16, 2022 · at 1:00:24
Evaluating campus marketplace DealDog, Sam Parr explains why broad horizontal platforms struggle against tech incumbents while vertical marketplaces succeed.
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“I think that one of the few ways that these, one of the few ways these businesses can work is by like being very niche. So you have Poshmark for women's clothing. You've got Grail for men's streetwear. You know, there's like dozens of these that are like pretty big companies. I think Poshmark is a multi-billion dollar company. ThredUP, I don't know what their niche is, but some type of like clothing for a certain genre of person. I think that when you appeal to everyone, you appeal to no one.”
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