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The bulk of the theoretical literature in e-commerce assumes that the owner of an emarketplace extracts rents through the membership (entrance) fees from suppliers and buyers. We instead assume that the intermediary can also charge commission fees over the quantities that are sold through the platform. We investigate this more realistic business model from the intermediary’s point of view, under different conditions in B2B two-sided markets. In an e-marketplace where all participants act strategically, our analysis suggests that, although the intermediary’s optimal pricing policy can include membership fees and commissions, the intermediary prefers to operate a vertical e-marketplace under market conditions allowing him to impose high membership fees and low commissions for both sides of the market.