Abstract: Nowadays, many reverse companies have emerged. Different from the growth paths of traditional companies, reverse companies look for potential profit points on the basis of forming customer scale first. At present, many reverse enterprises fall into business difficulties due to unclear growth path and business focus. In this context, this research builds the growth path of “reverse” company through multiple successful and failed “reverse” company cases, pointing out that the growth of such company must go through three stages of creating customers, matching products and operating products. And pointed out the priorities of the company in each stage. Compared with traditional company, this research also finds that “reverse” company should pay attention to the accumulation and improvement of customer assets. The three stages of the growth process are all around customer assets. For this reason, company can increase the number of customers and improve customers. Increase retention, increase customer marginal revenue, and lower customer acquisition costs to increase customer assets. The research also discusses the theoretical significance and marketing implications of these research conclusions.

Key words:  , reverse company, growth path, multi-case study