Rocket Internet is a Germany “startup builder” that copies ideas successful in the US and takes them to other countries. Here is a list of some of their companies:
“Zalando, a Zappos copycat it launched in 2008, now operates in 17 European markets; Foodora, a competitor to Uber Eats and Deliveroo, now serves customers in Europe, Australia, and Canada as part of Delivery Hero; Zalora, an Amazon clone, was launched in South East Asia in 2012; Lazada, another e-commerce company in East Asia also launched in 2012, has since been acquired by Alibaba; Jumia, the leading e-retailer in Africa, was founded in 2012 in Nigeria and then expanded in 14 African markets before doing its IPO in New York in 2019.”
While the company gets criticized for lacking innovation, what they’ve accomplished is quite amazing. It’s not an easy feat to build large companies in a variety of markets.
Business Opportunity: Taking ideas that work in other countries is a solid business strategy. I think this is especially true if you are focusing on a smaller market, not on the radar of big tech firms.