The stakeholder value proposition of digital platforms in an urban ecosystem

•Digital platforms can create value with city stakeholders through a substantive, localized, and dynamic stakeholder value proposition (SVP).•One of the first empirical operationalizations and evaluations of SVP delivery by a digital platform.•Process of joint value creation between digital platform and its stakeholders is possible, although it can be complex and gradual.•When SVP is not delivered to the city, conflict can escalate.•Stakeholder theory approach to business model design.