Abstract: In order to analyze the equilibrium conditions of competition between two-sided platforms with agent multi-homing, a baseline model with two-sided network effects was constructed, and by changing the model's assumptions, the conditions under three cases were discussed, including two-sided single-homing, one side multi-homing and partial multi-homing. Based on the studies of equilibrium price and market share under the three cases, it is found that multi-homing has a direct effect on the platforms' pricing strategies, and the platform tends to charge multi-homing agents and provide discounts for single-homing agents. The agent multi-homing not only influences the equilibrium conditions but also results in the tilt prices in two-sided markets.