This article examines the sustainability of vertical electronic marketplaces (EMPs) and their value to the organization and productivity of B2B exchanges. What type of value is created? How is it shared in the value chain? Based on the literature, five value dimensions are proposed: information technology (IT), competitive advantage building process, competitive game with suppliers, management of the supplier relationship, economic gains. These dimensions are illustrated by five case studies conducted with the main French retailers in 2005. The article finally discusses the nature of EMPs (private or built in consortium) with transaction cost and resource-based view theoretical backgrounds
