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PurposeMethodology/approachFindingsResearch implicationsPractical implicationsOriginality/value/contributionInternet firms’ business model innovation (BMI) is drawing increasing research attention; however, the research in this field remains fragmented. This study aims to ascertain the current state of this research field, identify research gaps, and propose future research directions.In this study, 452 studies related to internet firms’ BMI were compiled from the Web of Science collection for the period from 1999 to 2022. Bibliometric analysis was used to uncover the field’s intellectual roots, and content analysis was used to explore and identify disciplinary knowledge bases.We identified the following clusters of research: antecedents of BMI; design, implementation, and consequences of BMI; the antecedents of BMI; and platform BMI. These were integrated into a comprehensive knowledge framework based on the Antecedent-Process-Consequence (APC) framework, which also explains how existing theoretical perspectives and mechanisms explain internet firms’ BMI. Finally, this study identified the research gaps and proposed future research directions.This study identifies a unified knowledge framework to summarize and refine core research topics to reflect the characteristics of the internet era, which helps researchers understand research in this field. Moreover, this study identifies gaps and proposes further research directions for management.This study is helpful for internet practitioners to understand and attach importance to the factors that affect BMI, as well as to the results of BMI, and accordingly adjust their strategic decisions on BMI.The innovation of this study lies in its comprehensive use of bibliometrics and a systematic literature review to explore the status of research on internet firms’ BMI and to identify knowledge modules and frameworks that are scientific, objective, and replicable. [ABSTRACT FROM AUTHOR]