Marketplaces have always created value. Since the early inception of marketplaces, to the development of a mobile marketplace, connecting buyers and sellers has always been the focus. This linking, in creating a buy-and-sell environment – whether in a physical, or virtual (cyber) way – has always been about reducing friction to facilitate greater commerce. Once a market is established, its value, whether recognized or not, becomes ingrained in both the minds and the actions of those who engage the marketplace.
permuto.com made a beautiful time line chart for The Evolution of the Modern Marketplace