At　present,　the　definition　of　business　model　in　the　theoretical　circle　has　a　variety　of　different　understanding,　these　differences　are　mainly　reflected　in　the　different　levels　of　analysis.　In　this　paper,　we　review　the　important　achievements　of　the　research　on　the　business　model　of　Internet　companies　from　three　analysis　levels　by　using　the　literature　analysis　tool　of　CNKI.　Since　the　Business　model　research　should　be　applied　to　more　complex　environments.　It　is　thought　that　the　design　of　the　business　model　of　Internet　business　needs　systematic　and　holistic　thinking,　rather　than　just　focusing　on　the　choice　of　isolation.　Therefore,　the　research　on　the　organizational　domain　level　is　more　inclusive,　reflecting　the　possibility　of　further　development　and　refinement　of　the　business　model　theory.