Abstract:Taking B2B platform H as an example, the vertical single-case research method is used to summarize and analyze the typical path and dynamic evolution mechanism of value creation and acquisition of internet exhibition platform under the perspective of data empowerment. The study found that the data drives the value creation of internet exhibition platform through efficiency, complementarity, locking and novelty. Besides, with data empowerment, internet exhibition platform locks up users by improving efficiency and complementarity through a new business model in the initial stage; in the growing stage, based on the lock-up effect, internet exhibition platform drives business innovation, product complementarity and matching efficiency improvement. In this process, the business model expands continuously.