Abstract:Big data entrepreneurship is an excellent opportunity for small entreprises which create disruptive products according to the actual requirement of an industry so as to build up their advantage quickly. This article reviews the existing research on the business model concept, and the data service industry, as well as conducts a systematic analysis on the business model of Hangzhou F Technology Co., Ltd., a representative start-up company in the data service industry. The paper analyses the explicit knowledge and implicit knowledge of F’s from value proposition, business system, profit model, critical resource capacity and external environment aspects in order to explore the success experience. Following conclusions are obtained in this paper: the key factor for starting business in data services industry is the balance business system with profit model during business model, which identify the market segments and companies should focus on building corporate government relations, and strive to use key resource capabilities to participate in the formulation of industry standards, in order to negotiate through industrial barriers. This article also suggests that it is important to balance the business system and the profit model in the early stage of a company, which may influence its success in the long term.