Why Tridge's Business Model is so successful?
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Tridge’s Company Overview
Tridge is a global trading and market intelligence platform that connects suppliers and buyers in over 150 countries, providing them with comprehensive and up-to-date information on products and suppliers. The company's primary focus is on the food, agriculture, and marine industries, with the aim of making cross-border trading more transparent and efficient. Tridge's technology-driven platform leverages advanced data analytics and a vast network of human intelligence to provide insights into market trends, pricing, and product availability. With a commitment to sustainability, Tridge is revolutionizing international trade by promoting responsible sourcing and reducing inefficiencies in the supply chain.
Tridge operates on a business model that combines technology and human intelligence to create a unique value proposition for its users. The platform provides detailed market intelligence, which helps businesses make informed decisions about sourcing and selling products. Tridge also offers end-to-end support for cross-border transactions, including supplier matching, negotiation support, and logistics coordination. This comprehensive approach streamlines the trading process and reduces the risks associated with international trade.
The revenue model of Tridge is primarily based on a transaction fee system. When a deal is successfully brokered on the platform, Tridge charges a certain percentage of the transaction value as a commission. This fee is charged to the suppliers, making it free for buyers to use the platform. Additionally, Tridge offers premium subscription services that provide advanced market intelligence and additional trading support. These subscription services generate a steady stream of recurring revenue for the company. By combining transaction-based and subscription-based revenue streams, Tridge has created a robust and sustainable business model.
Headquater: Seoul, South Korea, East Asian
Foundations date: 2015
Company Type: Private
Sector: Consumer Goods
Category: Agriculture
Digital Maturity: Digirati
Tridge’s Related Competitors
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CrowdFarming Business Model
Tridge’s Business Model Canvas
- Buyers
- Suppliers (manufacturing companies, Fish meal plants)
- Third party sources
- SNS followers
- Payment providers
- Shipping partners
- Tridge sellers marketplace
- Development
- Online marketing
- Software innovation
- Business development
- Network operation
- Intermediation and aggregation
- Big data
- Platform
- Network
- Agriculture products
- Staff
- Community
- Tridge has also developed the world’s first global trading repository called the TRIDGE HARVEST REPOSITORY which collects millions of data points from thousands of data sources from over 200 countries
- Sourcing team from around the globe aggregates market information from a variety of sources to provide timely and reliable information to suppliers and buyers
- Marketing team helps companies reach the right country and its right offline / online users
- Payment system
- Trading system
- Coordination
- Marketing
- IT
- Legal
- Finance
- Customer support
- Premium products at a fair price
- The global business platform
- Tridge "matched maker" recommending module suggests potential markets and trading partners in real-time and the market place allows transactions
- The platform is a medium connecting any producers and buyers of any goods by means of various listings
- One-stop solution for producers buyers based in any country
- List the products you wish to buy or sell and start receiving proposals and negotiates the best deal
- Retailers
- Manufacturers
- Distributors
- Wholesalers
- Importers
- Food Industry
- Farmers
- Producers
- Website
- Social networks
- Aggregation
- Warehouse
- Quality Assurance
- Staff
- IT infrastructure
- Software maintenance
- Networking
- Tridge guarantees the quality of the products and the freight and insurance to the place agreed with the buyer plus 4% as margin
- Commissions on trades
- Corporate membership
- Customization and consulting services
- Platform
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Try it freeTridge’s Revenue Model
Tridge makes money by combining different business models. Below, you will find the list of the different monetization strategies identified for this company:
- Agribusiness
- Transaction facilitator
- Two-sided market
- Market research
- Software as a Service (SaaS)
- Data as a Service (DaaS)
- Markets are conversations
- Brokerage
- Online marketplace
- Supply chain
- Sustainability-focused
- Cross-selling
- Customer relationship
- Ecosystem
- Digital transformation
- Channel aggregation
- Integrator
Tridge’s Case Study
Tridge's Case Study
Global trade has long been recognized as a complex arena, riddled with inefficiencies and opacity. Since its inception in 2015, Tridge has endeavored to unravel these complexities by leveraging cutting-edge technology and human intelligence. Today, we delve into how Tridge operates and highlights what makes its business model uniquely compelling in the marketplace.Breaking Down Barriers: The Tridge Vision
Imagine being a supplier in Peru, growing avocados with dreams of exporting to new markets like Europe or Asia. While the potential is vast, the challenges are numerous: who to negotiate with, what prices to expect, and how to ensure that the products reach the destination efficiently and safely. This is where Tridge steps in. As a global trading and market intelligence platform, Tridge connects suppliers and buyers across over 150 countries. The company's ability to amalgamate comprehensive and up-to-date information on products and suppliers truly stands out. Tridge focuses primarily on the food, agriculture, and marine industries, aiming to make cross-border trading more transparent and efficient. It employs a two-fold approach, blending advanced data analytics with human intelligence to offer real-time insights into market trends, pricing, and product availability. By doing so, Tridge is not just simplifying the trading process but transforming it into a more reliable, transparent, and sustainable practice.Empowering Through Data: The Tridge Approach
Central to Tridge's success is its robust data analytics framework. The platform's repository, known as the TRIDGE HARVEST REPOSITORY, collects millions of data points from thousands of sources across more than 200 countries. This powerful data aggregation allows Tridge to provide actionable insights that help businesses make informed decisions, thus reducing the risks that are intrinsic to international trade (source: Tridge.com). For instance, market intelligence reports powered by advanced analytics can guide suppliers on the best markets for their products, optimal pricing strategies, and even potential challenges they might face. In a sector where up-to-date and accurate data is indispensable, Tridge shines, transforming data into actionable intelligence.Connecting the Dots: Tridge’s Human Touch
While technology forms the backbone of Tridge's model, human intelligence remains its soul. Tridge's network of global sourcing experts continuously aggregates market information from a myriad of sources, thus ensuring that the data is not merely accurate but also timely. This dual approach creates a unique value proposition for Tridge's users, one that blends analytics with on-ground expertise. For instance, a buyer in Germany looking for sustainability-certified seafood can rely on Tridge's refined search algorithm and sourcing experts, ensuring that they find the right supplier who meets their stringent criteria. Thus, the combination of real-time technology and human verification elevates the platform from a simple marketplace to a highly reliable trade facilitator.A Seamless Business Model: Transaction and Subscription
Tridge's business model adeptly combines technology with human expertise, which positions it uniquely in the marketplace. Its revenue streams are equally diversified, offering both transaction-based and subscription-based services. When a deal is successfully brokered on the platform, Tridge charges a commission, typically a percentage of the transaction value, making it free for buyers to use (source: Tridge.com). In addition, Tridge offers premium subscription services that unveil advanced market intelligence and additional trading support. This dual revenue model ensures a steady income stream while providing multiple entry points for different types of users. By doing so, Tridge not only facilitates transactions but transforms itself into an indispensable industry resource.The Power of Partnership and Ecosystem
Partnerships play a crucial role in Tridge's ecosystem. By collaborating with various stakeholders—ranging from global buyers and suppliers to logistics and payment providers—Tridge maximizes its operational efficiencies and minimizes risks. Through these partnerships, Tridge can offer end-to-end support for cross-border transactions, stand out in supplier matching, negotiation support, and logistics coordination. It’s more than just a transactional relationship; it's about building a trusted network that adds value to all participants. As Tridge’s CEO, Hoshik Shin, eloquently puts it, “Our commitment to sustainable and transparent trading is woven into every fiber of our operations. We strive to build lasting relationships and create a fair playing field for all our stakeholders” (source: HBR Interview, 2023).Driving Impact: Sustainability at the Core
Tridge isn't just about facilitating trade; it's about doing so responsibly. The company's commitment to sustainability is evident through its operational practices and the partners it chooses to work with. By promoting responsible sourcing and minimizing supply chain inefficiencies, Tridge not only boosts profitability for its users but also fosters a more sustainable industry model. Reports indicate that businesses leveraging Tridge can reduce supply chain costs by up to 15 percent while also lowering their carbon footprint through optimized logistics (source: McKinsey & Company, 2022). Thus, Tridge’s platform serves as a catalyst for sustainable and ethical trade, making it attractive not just for traditional business metrics but also from a corporate social responsibility standpoint.A Future Shaped by Innovation
As we look ahead, Tridge's trajectory is undoubtedly poised towards further innovation and expansion. The company's focus on integrating new technologies like artificial intelligence and blockchain into its platform further underscores its commitment to transforming global trade. The future of trade is one that is transparent, efficient, and sustainable—all qualities that Tridge embodies. In conclusion, Tridge’s unique amalgamation of technology and human intelligence, its comprehensive support for cross-border transactions, and its commitment to sustainability set it apart as an industry leader. By simplifying the complexities of international trade, Tridge not only meets but exceeds the evolving needs of businesses worldwide. As we continue to navigate an increasingly globalized world, Tridge stands as a beacon of innovation and reliability, guiding the future of global trade. For more about how Tridge is revolutionizing the world of international trade, visit [their website](https://www.tridge.com/).If you enjoyed this content, you’re in for a treat! Dive into our extensive repository of business model examples, where we’ve dissected and analyzed thousands of business strategies from top tech companies and innovative startups. Don’t miss out!