011 || 13 Reasons Why (Not)
It's not always about where you start
On this auspicious occasion of Friday the 13th, let me share 13 times business started in Rome but ended up in Rwanda.
Btw I tried looking up as to why Friday the 13th is considered unlucky but I was able to find only one, unverified, story. It’s because Jesus was betrayed by 13 guests (including Judas) and was crucified on Friday, thus the superstition. Hard to put a pin on that one.
On to the main course.
13 of the most unusual pivots in business history
Nintendo
Founded: 1889
Market cap: USD 70 Billion
From playing cards to game consoles
Originally founded in 1889 as a manufacturer of hanafuda playing cards, Nintendo pivoted to electronic gaming in the 1960s, eventually becoming a giant in the video game industry*.
*The employee who invented the Nintendo game at the company has a crazy story that I would love to cover here someday
PayPal
Founded: 1998 (orginally as Confinity and Elon Musk’s “X.com”)
Market cap: USD 70 Billion
From IOUs to online money transfer
Initially developed as a service for sending IOUs between Palm Pilots, PayPal shifted its focus to online money transfers via email, capitalizing on the growth of eBay and becoming a leading payment platform.
Did you know? PayPal’s former employees have gone on to create/develop some of the most well-known companies like Tesla, LinkedIn, YouTube, Yelp, Palantir, SpaceX, and more.
Starbucks
Founded: 1971
Market cap: USD 112.5 Billion
From a retailer of coffee to the leading brand in coffee
Starting as a retailer of espresso machines and coffee beans in 1971, Starbucks transformed into a coffeehouse chain in the 1980s, inspired by the Italian café culture*.
Did you know? Starbucks has the biggest loyalty program in the world with over 40 million customers in its ‘Starbucks Rewards Program’.
IBM
Founded: 1911 (originally founded as the Computing-Tabulating-Recording Company)
Market cap: USD 195 Billion
Desktop computers to IT consulting
Once a dominant player in personal computing, IBM pivoted to IT consulting and services in the 1990s, adapting to market changes and focusing on software solutions.
Twitter
Founded: 2006
Last known market cap: USD 41 Billion (Elon Musk took it private after his acquisition)From a podcasting platform to a social network
Originally conceived as a podcasting platform called Odeo, Twitter emerged when the team recognized the potential of a messaging service for short updates, leading to its launch in 2006.
Instagram
Founded: 2010
Market cap: difficult to put a finger since it’s owned by Meta (Facebook) now but last estimates place it on USD 70 Billion
From a check-in app (remember those) to our generation’s addiction
Initially known as Burbn, a location-based check-in app, Instagram pivoted to focus on photo sharing after realizing that users preferred that feature, leading to its massive success.
Mazda
Founded: 1920 (as Tokyo Corg Kogyo Co.)
Market cap: USD 4.5 Billion
Cork manufacturer to car manufacturer
Founded as a cork manufacturer in the 1920s, Mazda transitioned to automobile production, releasing its first vehicle in 1931 and evolving into a well-known car brand.
Western Union
Founded: 1851
Market cap: USD 4 Billion
From a telegram service to money transfer
Originally a telegram service, Western Union successfully pivoted to money transfer services as the demand for telegrams declined with the rise of the telephone.
Android
Founded: 2003
Market cap: unable to come to a figure since it’s owned by Alphabet (Google)
From OS for cameras (lol) to OS for mobiles
Initially designed as an operating system for digital cameras, Android pivoted to become a mobile operating system after being acquired by Google, ultimately dominating the smartphone market.
Did you know? Android’s market share - 95% worldwide and 42% in the USA
Play-Doh
Founded: 1956
Market cap: USD 9.5 Billion
From a wallpaper cleaner to toy’s for kids
Originally a wallpaper cleaner, Play-Doh was repurposed as a children's modeling compound after its creators discovered its popularity in arts and crafts.
Shell
Founded: 1907 (as the Shell Transport and Trading Company)
Market cap: USD 203 Billion (hello daddy)
From seashell import to a behemoth in the Oil industry
Starting as a seashell import business, Shell transitioned into the oil industry, becoming one of the largest oil companies in the world.
Nokia
Founded: 1865
Market cap: USD 29 Billion (ouch)
From a paper mill to telecom to mobile phone manufacturer
Originally founded as a paper mill in 1865, Nokia expanded into various industries, including rubber products and telecommunications. It made a significant pivot into mobile technology in the early 1980s, eventually becoming a leading mobile phone manufacturer known for its iconic devices.
Groupon
Founded: 2008
Market cap: USD 1.2 Billion
From a fundraising platform to group discount deals
Initially launched as ThePoint, a social fundraising platform, Groupon pivoted to focus on offering group discount deals. This shift allowed it to capitalize on the growing trend of collective buying, leading to its rapid growth and popularity in the daily deals market.