More than just digital platforms: A framework to uncover the characteristics of platform cooperatives through platform business models

The conventional view of platforms, focused on transactional, profit-driven models, has increasingly been challenged by platform cooperatives that aim to advance social goals and fairer value redistribution. By merging digital platforms with cooperative values, organizations like Radish and Stocksy exemplify this shift. Despite growing interest in platform cooperatives, they often experience governance and operational challenges that prevent long-term value creation. This perspective article examines how the platform business model, including both digital and non-digital platforms, can serve as a lens for studying platform cooperatives by examining how the three platform pillars have been applied in prior research. In doing so, this paper offers an expanded conceptualization of platform cooperatives as platform business models characterized by distinctive customer roles and governance rules. This contributes to research on platform cooperatives by identifying novel ways to address their governance and operational challenges. It also contributes to the broader platform literature by expanding our understanding of platform governance and how platform business models can connect with local contexts. Finally, it offers practical insights for platform cooperative founders designing value flows by unlocking new platform-based strategies for long-term value creation.