The evolution of business models in the start-up context : Case study among Finnish platform-based start-ups

Abstract

Multi-case study among Finnish digital platform start-ups from the evolution of business model during the first ten years of operations and motives behind the possible developments. Through utilizing Business Model Canvas in interviews with the founders of the case companies each division of the business model is examined since the founding of the companies and then the results are compared and possible similarities highlighted.

The findings of this thesis improve knowledge from the previous studies from the importance of developing the business model. In addition, the impact of the early customers was highlighted in the previous studies which also was the case in this study.

All in all this thesis creates empirical evidence to support previous studies but also creates a perspective and possible operational format for founders of start-up companies that usually function in highly turbulence fields. Through the evidence of four similar start-up companies that have gained the rapid growth rates and survived the crucial first few years since founding, the development of the business model in the early age through the market information is a key function that needs more notice.