B2B MarketplacesNovember 2022 Page / 2 Investing in the future of marketplaces. Adevinta Ventures is the VC arm of the Adevinta group, a global online classifieds specialist operating leading digital marketplaces 11 countries. We invest in fast- growing European startups (Series A and B rounds) that can shape the future of mobility, real estate, work and fintech. We also foster collaboration opportunities between our portfolio companies and Adevinta brands.Global startup & venture capital intelligence platform. Dealroom.co is the foremost data provider on startup, early-stage and growth company ecosystems in Europe and around the globe. Founded in Amsterdam in 2013, we now work with many of the world's most prominent investors, entrepreneurs and government organizations to provide transparency, analysis and insights on venture capital activity. Page / 3 Key takeaways. B2B Marketplaces GMV globally20132020$5.8T$12T+2.1xValue is focused on Consumer Goods, Logistics & Lending.Enterprise value is concentrated in Consumer Goods, Logistics & Lending.B2B Marketplaces have immense potential for growth.B2B Marketplace funding has remained relatively steady during market shakeups.By addressing complex value chain challenges, Logistics & Lending have joined Consumer Goods as the highest valued segments. Consumer GoodsLogisticsLendingTop Global 3 Segments by Combined Enterprise Value$23B$34B$34B2022VC funding has grown significantly in B2B marketplaces in the last 5 years, but funding levels are still only 19% of that of their B2C counterparts. 20172018201920205%10%20%6.3%12.6%12.6%14.0%15%8.6%202119.0%Compared with other industries such as Health or Transportation and consumer-focused categories, B2B marketplaces have not had such a reduction in inward investment in 2022. Total Share of Global Marketplace VC Funding in B2BMarketplace VC Funding by Semester ▊H1 2021 ▊H1 2022B2C $7.1B$6.4B$55.5B$33.2BB2B -10%-40%Consumer Goods, Logistics & Lending are the highest valued segments in B2B Marketplaces. Page / 4 1. What is a B2B Marketplace? SaaS-enabled B2B marketplacesNot included in this report Two-sided marketplaces between businesses Two-sided marketplaces between companies and professionalsB2C marketplaces with big B2B segment as add-onSaaS-first with marketplace as add-onB2B software for B2C marketplacesB2B Marketplaces More details on Dealroomʼs methodology and what consists a B2B marketplace can be found in the “Methodology” segment at the end of the report. Page / 6 Consumer GoodsFoodIndustrialHealthcareInsuranceInvestmentLendingLogisticsEducationTravelLegalRecruitmentCommoditiesReal EstateMatching wholesalers with businesses.Intermediating B2B financial asset transactions.Issuance of short and long-term debt for businesses.Enabling Food & Agriculture activities and transactions between businesses.Enabling supply chain of B2B transactions.Connecting businesses with future employees and contractors.Materials sourcing, equipment purchasing and rental and manufacturing services.Course and education services aimed at professionals.Intermediating commodities trading between businesses.Connecting networks of pharmacies, therapists, nurses, doctors and hospitals.Enabling travel and hospitality for businesses.Providing insurance for businesses.Connecting businesses and legal services.Intermediary for commercial and industrial real estate transactions.The main B2B marketplace segments are: Consumer Goods, Logistics & Lending. Travel and Healthcare are the fastest growing segments analysed, both have grown more than 15x since 2015. On average, B2B Marketplaces grew 8x in the same period.Startup enterprise value generation will come from marketplace verticalization as startups address complex value chains and markets.We’ve identified 500+ startups across 14 market segments. Page / 7 Juan UrdialesCo-founder & Co-CEO jobandtalent“Our vision is that the whole hiring and workforce value chain for temporary workers is covered and integrated by one platform to optimize the workersʼ and companiesʼ hiring experience. “The expansion into the international markets is one of our main and most exciting challenges: we now have larger investment funds than we are used to, which raises the bar. We have an ambitious expansion plan and weʼre focused on growing in new regions (e.g. USA) while also strengthening our position in Europe." B2B marketplaces are expanding to cover more of their value chains and offering integrated, optimized experiences. Page / 8 Verticalization of B2B Marketplaces.After the first wave in the early 2000s, B2B marketplaces have expanded to a larger portion of their industry value chain.This expansion occurred due to advances in 3 main high-level functions supply & demand aggregators, procurement tools and financing solutions.Looking ahead, vertical specialists and managed marketplaces are expected to generate and capture more value in complex value chains.1990s-2000s2000s-2010s2010-20202020+Founding Yea