CMS event in Davos: Online platforms – a new business model

Frankfurt, 16 January 2019. CMS, a top ten international law firm, in conjunction with Germany’s leading weekly newspaper Die Zeit, will host its annual reception in Davos on 23 January to discuss current trends in the business world. This year the topic is “The Power of the Platform: A New Business Model”.

The event will include an exclusive one-on-one discussion with Sheryl Sandberg (Chief Operating Offer of Facebook) on how Facebook has successfully implemented the platform business model. Additionally, Christian Sewing (Chief Executive Officer of Deutsche Bank AG) will provide insights into why digital innovations and new business models will radically change how banking is conducted in future.

Re-shaping global business

Thanks to their ability to create scalable networks of users and bring down the cost of doing business across borders, platform models have been enjoying incredible success. Seven of the ten largest companies in the world now use platform models. Five of these are based in the US, while the remaining two are in China. To date, Europe is far behind.

Dóra Petrányi, Technology, Media and Communications Partner at CMS, thinks that this could change: “The next stage of the platform revolution will see the model moving from information and consumer products to industrials and financial services. These are the sectors where Europe has significant expertise and incumbents have an opportunity to re-apply the platform model in new ways. This is an interesting opportunity for Europe to be the platform for a new business agenda.”

As part of an expert round, Craig Dawson (Executive Partner, IBM Automation Platform Leader Europe), Olivier Grémillon (Vice President, Booking.com), Prof. Annabelle Gawer (Chaired Professor in Digital Economy, Surrey Business School; Director, Surrey Centre of Digital Economy) and Dóra Petrányi will discuss the evolution of the platform model and whether Europe’s corporates can become leading players in the platform economy.

Cornelius Brandi, Executive Chairman at CMS, said: “Across all sectors, companies need to think radically about different ways of serving their clients and delivering services to them through technology to ensure their competitiveness in global markets. With business models and ways of providing goods and services changing fundamentally, government support, such as investments in digital skills and appropriate data regulation, will be an important success factor.”

Attendance of the event is by personal invitation only and will take place from 3:00 pm to 5:00 pm CET on Wednesday, 23 January 2019.

Watch the discussion live via the CMS website. (3:00 pm to 4:00 pm CET).