Piton Capital

We set up Piton Capital having experienced first-hand the power of businesses based on network economics at Autotrader, Betfair and QXL Ricardo.
Fundamentally, such a company has a product or service that gets better the more people use it. The classic example is the telephone – not very useful for the first person owning it, but very powerful when everybody has one. The Internet has enabled a whole new range of sectors to organize around this principle. That is particularly true where large and fragmented user groups can now be connected.
This dynamic of a product or service getting better with more users leads to winner-takes-all markets, which sometimes plays out on a global level, like with Betfair or Skype, and sometimes locally, like with marketplaces where logistics, language, payment and trust play an important role.