Because access to Facebook is blocked in China, Renren, known as “the Facebook of China”, launched after “thefacebook.com” went live.

Despite the legendary success Facebook made, Renren’s recent financial statement is more like a disaster.

Renren lacks innovation is one of the major causes. Through all the way today, nearly every move Renren has made is just imitation. Even though Facebook has proved this is a successful business model, Renren needs to adapt to Chinese culture and come up with something original.

It is true that imitation is a feasible way to start business. Knowing that certain business has already worked in the market prevents a lot risk, and seeing the way the public reacts to it can help to improve. Firms can learn and grow from it. However, what really keeps you in the top of industry is the uniqueness. With the rapid changes of technology and fierce competition of economy, it takes more than imitation to survive. Renren needs to differentiated it from other social media and position itself in customers’ minds as Renren itself instead of a copycat.

Tech: Renren, Facebook Copycat, Poised To Make History With Rumored IPO. Feburary 21, 2011

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