Copying a successful formula which is tried and tested by others is often seen as a safe bet by many. Though striving in a competitive world makes sustenance of businesses difficult, but there are few brands that copied others and yet made millions. Here are 5 such brands
Although Instagram has been in profit since 2012 when Facebook bought it for $1 billion, what made it extremely successful was the feature of Stories. Stories as a feature was initially launched by rival brand Snapchat wherein a person was able to share photos and videos with friends, and those got deleted after 24 hours. If Snapchat had not rejected Facebook’s offer, probably Instagram would have never even got into the story mode, but today it’s the stories function that has added 250 million users in the year since it launched while Snapchat has lost all the charm it ever had.
Alando is a German copycat to American online auction site eBay, it was developed by three brothers and within 4 months eBay purchased Alando.de for $43 million and eBay’s revenue today is more than $9 billion.
It was in 2014 when Jony Ive, chief design officer of global technology titan Apple, used the word “theft” to describe what Xiaomi was good at. The Chinese smartphone brand has been blatantly accused of copying designs and even software gestures of Apple. Although Apple’s overall revenues are much higher than that of Xiaomi, it cannot be ignored that today the Chinese smartphone maker is worth more than $45 billion, and is the fifth largest in the global industry.
Amazon released its personal home assistant speaker, Echo in 2015. People asking numerous questions to Alexa made the product extremely popular. It is projected that by 2020, the revenue from Echo and Alexa alone would be around $11 billion. A year later, Google came up with Google Home with similar functionalities and by 2017, Apple also released its HomePod. Apple is still struggling to find a user base, while Google still has managed to give Echo some competition, but even now the clear winner is Amazon Echo.
FedEx, was founded in 1971 and its signature red-white-and-blue delivery trucks are routinely found in cities and suburbs today and sometimes parked near the big brown box trucks of rival courier company United Parcel Service, or UPS, which got its start in 1907. Today both these private package delivery services have grown multi-folds and are two of the biggest names in the world. They deliver about 25 million packages per day