In order to win in the new digital economy, we realized, before Mirakl was even a concept, that companies would need to transform from the pipeline model of the past, to a new platform model to survive. This model would provide them greater productivity, agility and flexibility – all necessary to satisfy the new digital customer and stay competitive. Welcome to the era of anything, anytime, anywhere.
The Amazons, Rakutens, and eBays of this rapidly-changing world, were built on this new way of doing business. We launched an online marketplace of our own, SplitGames, in 2005. SplitGames disrupted the video games retail market by offering a single online destination for all things video games and entertainment, serving the growing base of consumers who now expected to buy anything, anytime, anywhere.
The business took off rapidly, and in 2008 was acquired by Fnac, a $5bn iconic French retailer, a point of validation for the strategic advantage provided by an online marketplace. At the time Fnac was facing strong headwinds from the accelerated digitization of books, PC games, CDs and DVDs and intense competition on price & selection from emerging online pure players.
Within three years, we delivered a marketplace-driven transformation program at Fnac, bringing massive assortment expansion, the successful launch of adjacent categories, and overall double-digit top-line and profitability growth. This was digital transformation at its best!
It was clear that traditional business models were stretched to their limits as enterprises tried to compete to see who could scale faster. The time to adopt new business models was now – but change wasn’t easy. We knew that companies who adopted a platform business strategy would be in a position to thrive but this model should not be available exclusively to digital giants. We wanted to help.