7 Companies Who Destroyed Their Competitors
Bangalore: There are many companies which were at the top once, but couldn’t hold the position for too long and were toppled by much smaller and nimbler companies which had better products and innovations to change the business sector. 24/7 Wall St. has listed out some of those companies who recently toppled from their position.
Google vs. Yahoo
Google is the synonym for internet, searching products, or downloading software. Google rules as the biggest search engine. But it’s hard to believe that this was not the scene earlier. In the early days, Lycos, Excite, AskJeeves were the rulers of the search world. By 20th century end, Yahoo became the leader by dragging the smaller companies under it at any cost. In 2000, Yahoo had 56 percent of the search engine referrals, which was six times its closest competitor.
Google had only 1 percent of the market in June 2000. Soon Yahoo started using Google’s search algorithm. Yahoo began to lose steam quickly as Google began competing for market share. Within 2002, Google’s efficient search engine became much popular. It referred 31.8 percent of all searches, compared to Yahoo, which is only 36.3 percent. Google’s popularity increased exponentially in the next eight years and reached at the top most position. According to Comscore, in July 2011, Google had more than 65 percent of the market share while Yahoo had just 16.1 percent.
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