How Novi is Operating a Two-Step Marketplace - Novi Co-founder & CEO Kimberly Shenk Interview

Novi is an amazing example of a two-step marketplace. Two-step marketplace operators are facilitating transactions at two or more stages in a value chain and providing greater levels of transparency by cross-flowing data between the stages.

The two-step marketplace model exemplified by Novi involves multiple stakeholders, including retailers, brands, formulators, and raw material suppliers. Retailers set standards and regulations that brands must meet to sell their products. Brands provide requirements to formulators who develop the products accordingly and can procure the ingredients through the Novi platform - providing transparency and trust all the way up the value chain. Novi has built products and services to assist at each stage of this process. —

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