This study addresses a critical gap in platform research by exploring how stakeholder relationships within platform business models create value and contribute to sustainable development. Prior studies have mainly focused on economic factors such as pricing strategies, cost reduction, and network effects to explain value creation. In contrast, this research integrates economic, relational, and nonfinancial dimensions of value creation. Guided by the research question: how do stakeholder relationships in a platform business model contribute to sustainable value creation? This study adopts a conceptual approach, drawing on the platform business model and the trust and reputation literature. A novel framework is proposed, emphasizing how collaboration among stakeholders enhances both platform performance and its contributions to broader sustainable development goals. The findings advance the theoretical understanding by linking platform strategies to sustainability outcomes while offering actionable insights for managers to improve stakeholder collaboration and ecosystem resilience. This framework serves as a foundation for future empirical validation and research on sustainable value creation in digital platforms.