PM Marketplace Dynamics
(2026 Edition)
5 dynamics and 5 metrics for marketplace PMs.
Build Marketplace PM Skills — Free →5 Dynamics
Cold start: solve supply first in most marketplaces
Liquidity matters more than GMV — match rate predicts health
Take rate has a ceiling — push too high and supply disintermediates
Both sides have LTV — optimise for the constrained side
Geographic or category liquidity — don't compute marketplace health globally
5 Metrics
Match rate — % of demand that finds supply
Time-to-first-match for new supply
Repeat usage by both sides
Take rate and net take rate after incentives
Disintermediation rate — supply and demand going off-platform
FAQ
Should marketplaces subsidise supply or demand first?
Usually supply. Demand finds a quality supply catalog; supply won't stay without demand, but without supply there's no product at all. Classic examples: Airbnb, Uber, DoorDash all solved supply before demand. Exceptions exist for demand-saturated markets where supply already exists outside.