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Hiroshi Mikitani

Marketplace 3.0: Rewriting the Rules of Borderless Business Hardcover – March 19, 2013

by Hiroshi Mikitani (Author)

4.0 45 ratings

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The CEO behind Rakuten and Kobo reveals how his unique approach to empowerment and collaboration defy conventional wisdom, and are the future of growth and globalization strategy.

If Web 2.0 described the shift from static to interactive life on the Web, then 3.0 is the next sea change ― driven by personalization, intelligent search, and user behavior. And that evolution has huge implications for everything we see, buy and do online. Rejecting the zero-sum, vending-machine model of ecommerce practiced by other leading internet retailers, who view the Internet purely as a facilitator of speed and profit, Hiroshi Mikitani argues for an alternate model that benefits merchants, consumers, and communities alike by empowering players at every step in the process. He envisions retail "ecosystems," where small and mid-sized brick-and-mortar businesses around the world partner with online marketplaces to maximize their customer bases and service capabilities, and he shows why emphasizing collaboration over competition, customization over top-down control, and long-term growth over short-term revenue is by far the best use of the Internet's power, and will define the 3.0 era.

Rakuten has already pioneered this new model, and Marketplace 3.0 offers colorful examples of its success in Japan and around the world. Mikitani reveals how the company enforces a global mindset (including the requirement that all its employees speak English, even in Tokyo); how it incorporates new acquisitions rather than seeking to completely remake or sell them for a quick profit; and how it competes with other retailers on speed and quality, without sacrificing the public good. Marketplace 3.0 is an exciting new vision for global commerce, from a company that's challenging all the accepted wisdom.

Print length

256 pages
Language

English
Publisher

St. Martin's Press
Publication date

March 19, 2013
Dimensions

6.4 x 0.95 x 9.52 inches
ISBN-10

0230342140
ISBN-13

978-0230342149
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Editorial Reviews

Review

“Marketplace 3.0 is highly readable and largely devoid of the jargon that often mars similar efforts. Mikitani gives a well-considered argument for why Rakuten's business model should be the way of the future...Mikitani's vision for the next stage of the online revolution and his conviction that internet companies have a responsibility to drive change for the better may be an inspiration to aspiring digital entrepreneurs.” ―Financial Times

“When [Mikitani] writes about the future of e-commerce, marketers would do well to heed his advice.” ―The Dallas Morning News

“A Japanese e-commerce guru tells how to succeed in online business by breaking all the rules… In this upbeat debut, [Mikitani] describes his maverick business philosophy, aimed at challenging conventional wisdom and empowering sellers to create lasting relationships with customers.” ―Kirkus Reviews

“Mikitani shares the secrets, beliefs, and drive that fueled Rakuten's meteoric rise to success… [he] weaves an inspiring entrepreneurial story and presents a thought-provoking case for breaking rules.” ―Publishers Weekly

“For anybody seeking to understand how to build and scale a company in the new global economy, Hiroshi Mikitani's Marketplace 3.0 provides a compelling guide to Rakuten's success. From Rakuten's early days as an Internet Mall to detailed insights on leveraging social media and providing a path for managers, Mikitani takes you inside the CEO's office with this thorough breakdown of what goes into today's successful global business.” ―Dick Costolo, CEO, Twitter

“Mikitani is one of the world's great Internet entrepreneurs. He possesses one-of-a-kind insights on the intersection of e-commerce and globalization. In Marketplace 3.0, he describes his vision of the future in compelling fashion and shares his unconventional but hugely effective strategies for competing in a 'borderless business' environment. Highly recommended!” ―Reid Hoffman, co-founder & chairman of LinkedIn and co-author The Start-Up of You: Adapt to the Future, Invest in Yourself, and Transform Your Career

“Hiroshi Mikitani provides exactly the right advice at the right time. His fascinating story of building Rakuten into a global e-commerce giant offers profound and practical lessons for any leader who wants to master the new rules of global competition while also improving the state of the world.” ―Rosabeth Moss Kanter, Harvard Business School Professor and author of Confidence and SuperCorp: How Vanguard Companies Create Innovation, Profits, Growth and Social Good

“Hiroshi Mikitani is one of the great truly global thinkers in the the business world today. The ideas about leadership, service and commerce in Marketplace 3.0 are profoundly elegant and immediately actionable.” ―Phil Libin, CEO, Evernote

About the Author

Hiroshi Mikitani is the founder and chief executive of Rakuten, the third largest e-commerce marketplace company in the world, with operations in over a dozen countries across Europe, the Americas and Asia, and ranked 7th among Forbes' World's Most Innovative Companies of 2012. An Internet evangelist, he has more than 430,000 followers of his Twitter feed, and has spoken at many events including the eG8 Forum, DLD Conference and Y Combinator's Startup School. Mikitani has been featured in national and international broadcast and print media, including CNN, The Wall Street Journal, Bloomberg, Forbes, The New York Times, the Los Angeles Times, The Globe and Mail, The Economist, and the Financial Times, among others. Mikitani received an MBA from Harvard Business School, and in 2012, was presented with one of HBS's highest honors, the Alumni Achievement Award. He lives in Tokyo, Japan.

Product details

Publisher ‏ : ‎ St. Martin's Press (March 19, 2013)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 256 pages
ISBN-10 ‏ : ‎ 0230342140
ISBN-13 ‏ : ‎ 978-0230342149
Item Weight ‏ : ‎ 15.4 ounces
Dimensions ‏ : ‎ 6.4 x 0.95 x 9.52 inches

Best Sellers Rank: #4,611,173 in Books (See Top 100 in Books)
- #1,602 in Retailing Industry (Books)
- #9,124 in E-commerce Professional (Books)

Customer Reviews:
4.0 45 ratings

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Hiroshi Mikitani

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Hiroshi Mikitani is Chairman and CEO of Rakuten, Inc., Born in Kobe, Japan, Mikitani earned his undergraduate degree in commerce from Hitotsubashi University in 1988. After graduation, he joined the Industrial Bank of Japan (IBJ), Limited, now Mizuho Corporate Bank, and became an investment banker. While working at IBJ, Mikitani attended Harvard Business School and earned his MBA in 1993, he was also presented with the HBS Alumni Achievement Award in 2012, one of the school’s highest honors. In 1995, Mikitani left IBJ and founded Crimson Group the following year, a consulting company, and became its President and CEO. In February of 1997, he founded MDM, Inc. (now Rakuten, Inc.) and became its President and CEO. With only a handful of staff, Mikitani successfully launched the “Rakuten Ichiba” in May of the same year. In June 1999, MDM, Inc. changed its name to Rakuten, Inc. Rakuten, Inc. completed its IPO and was listed on the JASDAQ market in April 2000. Selected by Forbes as 7th among the World’s Most Innovative Companies of 2012, Rakuten is expanding globally and currently has operations throughout Asia, Western Europe, and the Americas.

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Jmtorres

One of the best business books I've ever read

Reviewed in the United States on May 24, 2014

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Insightful and solidly argumented, this book serve as an inspiration for anyone willing to become part of the global marketplace. Mr. Mikitani shares his experience to redefine the rules of commerce in the Internet age and being an accountable corporate global citizen. Highly recommended!!

One person found this helpful

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Kindle Customer

Nice book from a Japanese business leader with a global view

Reviewed in the United States on March 15, 2016

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The author has accomplished tremendous things and forever transformed the local industry. Inspiring to learn from his first-hand experience in building and growing Rakuten.

One person found this helpful

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Wilco Slabbekoorn

Respect

Reviewed in the United States on May 12, 2013

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I'm really impressed by Mr. Mikitani's 5 principles of doing business.
I join him with his view on borderless business ! Very inspiring book,not only if you work in eCom.

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R. Prabhuram

I am a fan of Hiroshi

Reviewed in the United States on June 23, 2013

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A straight from heart book from a most successful yet grounded personality!!!!my respect for Japan has increased multi folded after reading this book!!!would love to meet Hiroshi once!!!

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me

ideal book for an MBA - full of fluff, short on substance

Reviewed in the United States on April 30, 2013

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another life story of a successful guy. Techcrunch review was badly misleading. There is no vision or insights. Most of the book is wasted on challenges of converting a Japanese company into international one.

9 people found this helpful

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Amazon Customer

Five Stars

Reviewed in the United States on September 2, 2015

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If you are in a marketplace business, you should read it!

Reviewed in the United States on September 10, 2015

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Seriously boring! The book is so dull that it is impossible to finish reading it.

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Sean Sheikh

'An institution is the lengthened shadow of one man'

Reviewed in the United States on April 1, 2013

Rewriting rules is nothing new to Hiroshi Mikitani. In college, when Mikitani was captain of the tennis team, he quickly abolished the rule that younger players should serve as ball boys to senior players. In 1996, at the age of thirty-one, he broke another rule: he quit his job at the Industrial Bank of Japan. In Japan, it's an unwritten rule that once you are hired by a firm, you dedicate yourself for life.

His against the grain thinking seems to be working. Mikitani is the 4th richest man in Japan, and has turned his firm, Rakuten, into an internet empire. Alongside Uniqlo, he is one of Japan's biggest success stories in the last 10 years. In Marketplace 3.0, he discusses his business philosophy with respect to company culture, acquisitions, and where e-commerce is heading.

Mikitani is strongly against the 'vending machine' model of the internet. By vending machine, he means you find something online, you give your credit card information, and out comes something delivered. Marketplace 3.0 is still about finding things easily that are competitively priced, but making things more fun and personal. Not all buying decisions are based on price. This is the same in the digital world, as the physical world. People like a human touch. This is why people become regulars at stores and restaurants. Remembering peoples tastes, preferences, and having a personal story helps customer loyalty.

Although active in acquisitions (Buy.com, Kobo, etc), Rakuten made headlines around the world in 2010 for introducing 'Englishnization', changing the official company language from Japanese to English. Even within board meetings with all Japanese people, Mikitani would deny executives to use Japanese. For the policy to work, it had to be strictly enforced. People that didn't learn English would be passed for promotion, and possibly fired. Although called crazy and stupid by some, the fruits are coming forth. Rakuten is communicating with less friction to its offices abroad, its workplace is becoming more global, and more ideas are being spread.

There are three trends Mikitani predicts for the future. Money will be entirely digital, commerce will not be contained by national borders, and talent will not be constrained by national borders. To understand the trends more, you'll have to get the book.

Overall, I enjoyed reading Miktani's personal anecdotes. He comes across as down-to-earth, and sensible. Although not the subject of the book, I would interested to learn more about his upbringing and philosophy.

8 people found this helpful

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9447914010301202202112022021030104197449

The guy who caused a stir in Japan in a positive way

Reviewed in Japan on November 11, 2014

Verified Purchase

The cover with a picture of Mr. Mikitani rising to his full height and the book title written in red ….It just stood out in a bookstore.

In the book, Mr. Mikitani’s principles are spelled out, and it is a good book to have if you would like to understand the basic principles of Rakuten and its history.

Having said that, I did not like the part about the TBS incident. The TBS incident should have been accounted in an objective way. It sounded as though he still held a personal grudge against TBS management at the helm back then.

Arekutool

Unconventional and daring

Reviewed in Japan on November 26, 2014

Verified Purchase

It is an unconventional reading with a daring perspective of pushing the boundaries in the sometimes unmovable Corporate Japan.
Recommended to anyone wanting to have a different view about doing different things in Japan or even elsewhere.

dxbm

my ecosystem はないでしょう

Reviewed in Japan on May 7, 2013

Verified Purchase

　楽天の基本的な姿勢がよく分かります。英語の本ですが、難しい単語は使われていないので、読みやすかったです。といいますか、三木谷会長が書かれた文章そのままではないかと思いました。普通、日本人が論文や本を書く場合、ネイティブな人にチェックやリライトをしてもらいますが、全くしてもらっていないのでは、と思える箇所がかなりありました（自分が書く英語みたいで親近感は感じましたが）。
　内容で少し不快に感じたのは、三木谷会長が楽天経済圏を強くコントロールしているかのようなことを示す箇所です。例えば、p.118 には「my ecosystem」とあります。ここのecosystem（生態系）とは、楽天経済圏のことだと思いますが、「our ecosystem」と書いてほしかったです。
　また、競合相手のアマゾンを「自動販売機」のように批判するのもどうかと思いました。

4 people found this helpful

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