1
AAPL
2nd
Apple operates digital content storefronts (the App Store) that connect third-party developers with consumers, taking a commission on sales.
Apple
Digital Marketplaces
4.91 Tn
336.13
-0.26%
+41.30%
38.21
10.52
4.85 Tn
2
GOOGL
Alphabet generates the majority of its revenue from advertising on Google Search, YouTube, and the Google Network. It provides the technology infrastructure for performance and brand ads served to users worldwide.
Alphabet
Digital Advertising
4.25 Tn
349.54
+0.64%
+38.69%
—
—
—
3
MSFT
2nd
The company develops and publishes first and third-party video games and operates the Xbox Game Pass subscription service.
Microsoft
Video Games
3.67 Tn
493.78
-0.80%
-2.89%
27.98
11.05
3.53 Tn
4
AMZN
2nd
The company enables third-party sellers to list goods on its platform and earns fees from referral and fulfillment services, acting as a digital marketplace.
Amazon Com
Digital Marketplaces
2.74 Tn
253.71
+1.00%
+9.72%
12.71
1.97
2.61 Tn
5
META
Meta operates the 'Family of Apps' including Facebook, Instagram, Messenger, Threads, and WhatsApp, which are platforms for social interaction and user-generated content. The company's core value is derived from its large user base and network effects across these social networking services.
Meta Platforms
Social Media
1.70 Tn
665.75
-2.43%
-14.67%
24.86
7.43
1.61 Tn
6
NFLX
Netflix operates a streaming service that delivers TV series, films, and live programming to subscribers worldwide. Its primary revenue is generated from monthly membership fees paid for access to this streaming platform.
Netflix
Streaming
298.93 Bn
71.79
-4.67%
-40.56%
22.03
6.18
289.80 Bn
7
BABA
Alibaba operates massive online marketplaces like Taobao and Tmall that connect buyers and sellers, generating revenue from merchant services, transaction fees, and advertising.
Alibaba Group Holding
Digital Marketplaces
263.05 Bn
113.26
+4.40%
-30.29%
24.97
1.75
227.79 Bn
8
SHOP
Shopify provides a cloud-based commerce platform that enables merchants to create and manage online stores, offering website building tools and storefront infrastructure. Its 'Subscription Solutions' revenue is derived from platform subscriptions, apps, and themes sold to these merchants.
Shopify
E-commerce Software
166.44 Bn
128.50
-0.08%
-15.52%
86.33
12.54
161.49 Bn
9
UBER
Uber operates a technology platform that matches consumers with drivers for ridesharing and transportation services in its Mobility segment. It also operates a marketplace for food and grocery delivery via Uber Eats and Uber Direct in its Delivery segment.
Uber Technologies
Ride-Hailing and Delivery
143.82 Bn
70.50
-0.55%
-25.55%
14.75
2.60
138.61 Bn
10
BKNG
Booking Holdings operates a series of digital marketplaces (Booking.com, Priceline, Agoda, KAYAK) that connect consumers with travel service providers, earning commissions and listing fees. Its primary revenue model is based on facilitating commerce between buyers (travelers) and sellers (hotels, airlines, car rental companies) online.
Booking Holdings
Digital Marketplaces
126.16 Bn
167.90
-1.54%
-22.88%
17.89
4.47
108.94 Bn
11
PDD
PDD Holdings operates the Pinduoduo and Temu platforms, which are digital marketplaces that connect third-party merchants, manufacturers, and farmers with consumers. The company earns revenue through transaction fees from these completed sales, fitting the model of enabling commerce between buyers and sellers online.
PDD Holdings
Digital Marketplaces
112.31 Bn
78.90
+1.51%
-40.66%
8.20
1.73
82.02 Bn
12
SPOT
Spotify operates a global audio streaming subscription service providing music, podcasts, and audiobooks to users. It generates revenue through monthly Premium subscription fees and advertising sales for its Ad Supported service.
Spotify Technology
Streaming
104.93 Bn
509.77
-3.61%
-30.56%
26.88
4.97
94.01 Bn
13
APP
AppLovin builds the technology infrastructure for buying and selling digital advertising, specifically through its Axon Ads Manager and automated auctions. Its revenue model is based on campaign performance and return on advertising spend for advertisers seeking to reach global audiences.
AppLovin
Digital Advertising
103.29 Bn
308.06
-4.21%
-50.43%
23.46
15.12
100.24 Bn
14
ABNB
Airbnb operates a global digital marketplace that connects guests (buyers) with hosts (sellers) of short-term rentals and experiences, earning revenue through service fees on completed bookings. The core business model is enabling commerce between third-party buyers and sellers online rather than owning the inventory itself.
Airbnb
Digital Marketplaces
98.07 Bn
166.22
+0.17%
+32.48%
36.57
7.45
86.00 Bn
15
MELI
MercadoLibre operates a leading e-commerce marketplace where third-party sellers account for most of the gross merchandise volume, earning revenue through marketplace fees and final value fees.
Mercadolibre
Digital Marketplaces
90.61 Bn
1,787.39
-2.07%
-27.82%
48.64
2.58
75.42 Bn
16
DASH
DoorDash operates multisided platforms (DoorDash, Wolt, and Deliveroo) that match consumers with merchants and independent delivery personnel for food, grocery, and local commerce. It generates revenue through delivery and service fees from consumers and transaction fees from merchants.
DoorDash
Ride-Hailing and Delivery
83.59 Bn
192.94
-0.83%
-28.03%
100.02
5.26
78.26 Bn
17
NTES
NetEase is primarily an online game provider that develops and operates over 100 titles across multiple genres (MMORPG, casual, shooting) and platforms (PC, mobile, console). It generates its principal revenue from the sales of in-house developed and licensed games and related value-added services.
NetEase
Video Games
74.18 Bn
116.19
-0.37%
-24.01%
15.91
4.44
64.04 Bn
18
TGT
2nd
The company generates revenue from fees associated with its third-party digital marketplace, Target Plus, which connects external sellers with consumers.
Target
Digital Marketplaces
71.86 Bn
158.17
-1.04%
+76.88%
16.24
0.67
66.44 Bn
19
WBD
2nd
The company operates streaming services such as HBO Max and discovery+, generating revenue from consumer subscription fees and ad-supported tiers.
Warner Bros. Discovery
Streaming
69.72 Bn
27.80
-1.56%
+48.66%
-22.27
1.93
67.51 Bn
20
NU
2nd
Nu Holdings operates 'Nu Shopping,' an integrated e-commerce marketplace within its app that connects customers to third-party retailers like Casas Bahia and earns fees from gross merchandise volume.
Nu Holdings
Digital Marketplaces
65.97 Bn
13.65
-1.37%
-14.63%
16.63
3.41
52.29 Bn
21
EA
Electronic Arts develops, publishes, and operates video games across genres such as sports, racing, and action. Its revenue is derived from the sale of full game titles and live services for franchises like EA SPORTS FC.
Electronic Arts
Video Games
52.84 Bn
209.70
+0.00%
—
48.79
6.74
50.56 Bn
22
TEAM
2nd
Atlassian operates the Atlassian Marketplace, where it earns revenue from the sale of third-party apps, acting as a digital storefront connecting third-party developers with customers.
Atlassian
Digital Marketplaces
49.96 Bn
192.02
-0.26%
+13.20%
-928.78
7.60
48.72 Bn
23
EBAY
eBay operates a global online marketplace that connects millions of buyers and sellers to trade a wide variety of goods, including collectibles and luxury goods. Its revenue model is based on commissions, such as final value fees and listing fees, which is the defining characteristic of a digital marketplace.
Ebay
Digital Marketplaces
49.77 Bn
111.84
-0.94%
+24.82%
22.40
4.14
46.46 Bn
24
LYV
2nd
The company operates the Ticketmaster platform, a digital marketplace that connects buyers and sellers of tickets for its own events and third-party clients, earning revenue from service fees on primary and secondary ticketing.
Live Nation Entertainment
Digital Marketplaces
39.38 Bn
167.13
-0.72%
+1.49%
-150.81
1.50
31.37 Bn
25
TTWO
Take Two Interactive is a developer and publisher of interactive entertainment, creating and distributing games for console, PC, and mobile platforms. Its revenue is primarily generated from the sale of software titles and in-game virtual items through labels like Rockstar Games, 2K, and Zynga.
Take Two Interactive Software
Video Games
38.42 Bn
205.45
-2.45%
-17.73%
-119.40
5.75
36.59 Bn