Unbundling billions in niches

Sneakers are my vice. We all have one or two “unhealthy” obsessions that, for one reason or another, strike a primordial chord in our souls, and empty our wallets.

Some spend thousands of dollars on the latest golf clubs. Others back up the boat for fancy fishing gear. And the majority of people with a sales quota are obsessed with watches.

In short, we all have a “thing” that we self-identify with to a level that wouldn’t really make sense to an “outsider".

Many of these “things” are sold through niche, verticalized marketplaces, which cater to the unique preferences of sneaker heads, gear heads, foodies, etc.

Speaking of marketplaces, you’ve probably seen this image floating around the depths of the internet. It’s a raw illustration of all the ways entrepreneurs have attempted to unbundle Craigslist into standalone, seemingly niche businesses. Many of these companies went on to collectively raise billions of dollars in capital, and generate hundreds of billions in sales.

Andrew Parker, a tech geek and investor from Spark Capital and Union Street Ventures, made the thought provoking image back in 2010. It appeared in a piece he wrote about the unbundling of Craigslist, featured on his even more thought provoking Tumblr “The Gong Show” (nice).

My first observation: These logos are old AF.

My second observation: Many of the logos on the list are durable, publicly traded businesses in 2023.

Some unbundling examples that jump off the page:

And then in 2012, David Haber of Spark took another stab at the chart, updating it for a shit ton more logos.