Based on the value cocreation theory, the paper makes intensive study of using customer community to coinnovate between firms and customers. On the basis of value chain model and value cocreation theory, this paper firstly constructs conceptual framework for innovative customer community. Then, it proposes theoretical propositions of developing innovative customer community by analyzing existing literatures. Thirdly, it verifies the propositions by taking Cspaces and its customer community as research subjects. Finally, it reconstructs value chain model for innovative pattern of customer community.