Digital Disruption

Year 2000Blockbuster valued at $4.8 billion declined several offers to purchase Netflix for $50 million

2010Blockbuster filed for bankruptcy protection due to strong competition from Netflix

2015Netflix estimated worth is in excess of 35 billion

Digital disruption epitomized

“ When companies adopt technology, they do old things in new ways; when companies internalize technology, they find disruptive new things to do.”They become digital disruptors

Disruptors of the used car industry

They’re removing the middlemen like dealers and salesmen and making car purchasing much the same as buying any other product

online

How are they doing?

Beepi and Vroom have raise more than 200 million each in funding

3 year old Vroom reports revenues of 100 million per month and expect to reach 1 billion by the end of this year

Beepi said revenue grew 1000 percent from Dec 2014 to Dec 2015 and company valuation is rumored at $2 billion Source:

http://venturebeat.com/2016/09/20/vroom-raises-50-million-to-sell-used-cars-online-taking-its-total-to-218-million-in-3-years/http://fortune.com/2016/01/21/saic-beepi/

Carvana.com as raised 160 million this year to expand its online dealership And car vending machines nationwide

https://www.crunchbase.com/organization/carvana#/entity

What does the consumer want ?

Row 4Row 3

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25%75%

99.6%

Three-quarters of the population said that “if given the opportunity, they would consider making their entire car-buying process online

Of the 4,002 consumers polled, only 17 said they like the current car buying process just as it is

http://time.com/money/3826562/buying-cars-online-hate-car-dealerships/

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What does the experts say?

Continuing to do business as usual is riskier than investing in ways to transform the business with technology.

You are the disruptor or the disrupted!

Source:

http://searchcio.techtarget.com/feature/Five-digital-disruptors-talk-successes-and-strategies

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