This study examines the differential effects of platform empowerment on the performance of e-commerce firms through the lens of value co-creation. Drawing upon four core dimensions of platform empowerment—technical support, traffic support, data sharing, and brand endorsement—this research develops an integrated mediated–moderated framework. Value co-creation is posited as the primary mediating mechanism, while e-commerce business model typologies (B2B, B2C, and C2C) function as contextual moderators. Synthesizing contemporary theoretical and empirical insights, the proposed framework elucidates how platform-empowered interactions among firms, users, and digital infrastructures shape innovation capabilities, market competitiveness, and brand outcomes. The findings contribute to the platform economy literature by offering a nuanced understanding of empowerment-performance linkages and yield practical implications for platform governance and strategic alignment across diverse e-commerce models.