With the advances of digital technologies and participative webs of services, knowledge-intensive digital services have thrived on a rapidly expanding platform-based network economy. There is a great need for a comprehensive research on knowledge based analysis on social network and business network evolution to facilitate collaborative development of digital services. This research aims to develop an ontology-guided analysis of networking to facilitate the formation of the innovation network to create new digital services. Central to the research is a dynamic ontology construct that could articulate the evolution of the social and business networks driven by the prospects of value creation with networking structure and routines contributing to recognizing, engaging, and mobilizing key actors and resources. Based on a prototype model and a series of case studies of the emerging knowledge-intensive service industries, this research explores the potential of the model in adapting to the heterogeneity of the service demands and collaboration mechanisms in the service network. Through in-depth model-based analysis and synthesis of the emerging digital service activities, this research expects to develop an ontology-based platform for knowledge creation and network management system to capture the extensive opportunities for value creation in participative webs of services on experience economics.