The Study Of Product Strategy On Crowdfunding Platform From The Perspective Of Two-Sided Market

In 2011,the first crowdfunding platform was launched in China,and then crowdfunding was rapidly emerging in China with its more flexible,fast,open and convenient mode.The 2015 meeting of the state council put forward again,promote the entrepreneurship,innovation,need to build support platform,to take advantage of "Internet +",actively develop crowdsourcing,etc,to promote production and demand as well as to combine traditional industries and emerging industries.The crowdfunding platform not only provides new financing channels for small and medium-sized enterprises,but also provides new development opportunities for start-ups,and also helps many investors get new investment opportunities.Crowdfunding has opened up new financing channels,raised the efficiency of financing and promoted the development of China's economy.The main contents of this paper are as follows:Based on the theory of two-sided market and service-dominant logic,combined with the feature of the crowdfunding platform,this paper analyzes the development strategy of the crowdfunding platform.Firstly,we discuss the current body of crowdfunding platform.Secondly,we incorporate network externalities,project success rate,average quality and other key items into the crowdfunding platform two-sided market.We analyze the influential factors of the optimal quality threshold and performance investment on the crowdfunding platform.Thirdly,based on China's three major crowdfunding platforms: Jingdong Crowdfunding,Taobao Crowdfunding and Crowdfunding Web,we investigated technology-oriented innovative crowdfunding projects on three major Chinese crowdfunding platforms(n=342),using questionnaires as the data-collection instrument.A hierarchical regression analysis is applied to explore the model's hypotheses.It explains the method of promoting crowdfunding innovation performance in a mixed model.The results show that crowdfunding interaction breadth and interaction depth both partially mediate the relationship between technological boundary-spanning search and crowdfunding innovation performance.The findings also demonstrate that knowledge sharing moderates the path from technological boundary-spanning search to crowdfunding interaction depth and the path from crowdfunding interaction depth to crowdfunding innovation performance.