垂直性社群平台將定位聚焦在特定主題，匯聚對特定主題有興趣的人。由於 使用者在不分眾社群平台與分眾社群平台之間，表現出多棲的行為。在Facebook崛起後的台灣社群平台市場，分眾是進入社群平台市場的機會點。然而，對平台企業而言，成功經營的關鍵挑戰是能夠以平台創造的價值建立收益流。因此本研究探討以下問題： 一、 垂直性社群平台如何獲取價值？ 二、 影響垂直性社群平台營收模式發展方向的關鍵因素為何？ 三、 驅動垂直性社群平台營收持續成長的關鍵策略為何？ 為回答上述三大問題，本研究採取多個案研究法，針對三家個案平台依序分 析其營收模式的建立、主要營收驅動力的作用過程、營收成長策略。從分析結果，本研究得到以下的結論： 一、 垂直性社群平台獲取價值的方式主要有兩種型態：其一是藉由掌握對大量 高同質性「社群成員邊」及「外部的資訊搜尋者邊」購買決策的影響力，吸引以此群人為目標客群的廠商，並與廠商在新市場進入策略或行銷或銷售等面向合作。其二是藉由對目標客群偏好需求的瞭解，推出實體商品。 二、 社群成員的特質是影響垂直性社群平台營收模式發展方向的關鍵因素。 三、 社群成員成長策略是驅動垂直性社群平台營收持續成長的關鍵。 / The position of a vertical social networking platform focuses on a specific topic, and members of the vertical social networking are interested in this specific topic. Due to multi-homing behavior of users between social networking platforms which focus on specific topics and social networking platforms which do not focus on specific topics, after the growing of Facebook in Taiwan, focusing a specific group gives platform-based companies opportunities to enter the social networking platform market. However, what the biggest challenges in running a successful platform is to establish revenue streams by the value that the platform creates. The present study tries to answer the following three questions: 1. How does a vertical social networking platform capture value？ 2. What are the key factors that affect the development direction of revenue model for a vertical social networking platform？ 3. What are the key strategies a vertical social networking platform use to drive revenue growth？ By analyzing the platform value capture mechanisms, this study concludes that: 1. Vertical social networking platforms capture value by two way mainly: first, on the basis of influence on consumer decision-making, vertical social networking platforms attract firms to cooperate on market entry strategies or marketing. Second, vertical social networking platforms could launch physical products based on understanding needs and preferences of users. 2. The common characteristic of the community members is the key factor that affects the development direction of revenue model for a vertical social networking platform. 3. The community member growth strategy is the key to drive community platform revenue growth.