E-Commerce Software & Services

Growing pains

IN 1997 THE first seeds of a new business entity, the e-market, were sown. The e-market was seen as the next evolutionary step from using the internet in individual company value chains, to creating electronic marketplaces that linked value chains together.

An e-market would bring multiple buyers and sellers together, delivering increased value at reduced transaction cost.

As Fortune stated in November 1997: “These new markets will be similar to today’s stock market or, more aptly, the commodity futures market. Internet technology will soon allow for the creation of competitive, anonymous markets for many industries.”

In 1998, along with the massive US growth in e-commerce, the early tools and thinking for e-markets began to be delivered. Computerworld commented in November 1998: “E-markets are becoming not only the new battlegrounds for market share dominance, but also the new focus for business activity.”

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