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This article explains how Rocket Internet's German founders Marc, Oliver and Alexander Samwer have become billionaires by cloning great business ideas from America for foreign markets.
Proof that a great product isn't enough. You have to be aggressive about growth to capture the full potential of your business. And you have to think about global expansion as soon as you find product/market fit.
These guys are brilliant to crowdsource product/market fit and then apply it to untapped markets. Their success isn't entirely off of cloning though. They were early investors in Eventbrite too.
This is a pretty good article on Ikea's global expansion posted by @dylan earlier today https://growthhackers.com/how-ikea-took-over-the-world/
In the case of Rocket Internet, I'd say rather say "a great product isn't necessary" instead of "isn't enough"... :->
Here are some of their investment materials - http://www.kinnevik.se/en/Investor/Kinnevik-Rocket-capital-markeys-day-2014/ - really an interesting model. They can launch in new countries in 100 days.
They might have had a genius way to get rich fast by creating clone's and launching them in untouched business markets, but from an entrepreneurial stand point, I find it frustrating to see a company like Rocket Internet, become successful, when all they do is spit out replica's of products without providing any inovation to the tech landscape. They feed off buzz-worthy products that are typically created by small teams of people who quit their jobs to pursue (some who took major risks by making such a leap) and in the matter of days, these guys come along with a team of hundreds of developers and reverse engineer the same product and completely take over the market. I'm not saying they are the only one's who are guilty of doing this (Google :) ), but it is tough to support the way they have built up their company when you consider something like this could easily happen to your business.
I definitely can see how they could be looked at as bad guys, but I think it's a reality we all must face. If we discover the right product that meets a market need, we better do everything we can to capture that market quickly or someone else will beat us to it. It's a bummer but it's a reality too.
no original ideas required... the market will dictate who wins. Morally and philosophically I abhor them, but they know what they're doing and able to serve underserved/neglected markets masterfully. Props to them for that.. I guess.
I could easily spin this to make them sound like heroes. They take great solutions from smart minds in a rich nation and spread them globally so others may benefit as well. Why does one company deserve all the profits from a good solution? Shouldn't we be more interested in the solution spreading as fast as it can than a certain company?
Following the same line of thought, we can only hope more Samwer brothers are born from their success and that these new Samwer brothers focus on spreading solutions that have greater impacts on social good. The point is to bring the solution to the market, not to make one company rich.
They are incredible.
Here in Brazil they created one of the most successful e-commerce for clothes, called Dafiti. They also have other investments here such as Easy Taxi App.
I admire them.
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