Top 8 companies that shouldn’t have gone bankrupt, but went bankrupt when …

Today, when we look at a Facebook or an Apple, we say to ourselves: “These companies dominate the game so much that they will never go bankrupt. “ And it is surely true. Nevertheless, this speech, we have already held in the past about other large companies which, for their part, have ended up picking up. Like what everyone can fall, even the giants.

1. BlackBerry

It’s January 4, 2022, and that day marks the end of BlackBerry. From this day on, the operation of BlackBerry phones is no longer guaranteed. However, the brand’s models, with their physical keyboard, dominated the American market in the 2000s and Obama himself praised them in 2011. But even if it’s nice to have the affection of the President of the States , BlackBerry has failed to resist the rise of iPhones and other competitors. Luckily for the brand, it still has its cybersecurity software sales business, but when it comes to phones, it’s definitely over.

2. Virgin Megastore

Richard Branson’s company (yes, the gentleman who went to space in 2021) was a heavyweight in the sale of cultural goods. If you wanted to buy CDs and DVDs, Virgin was in the best position to sell them to you. However, all it took was a digital revolution with the arrival of streaming platforms to totally shake up Virgin’s economic model. The company filed for bankruptcy in early 2013, which would have been unthinkable just a few years earlier.

3. Yahoo!

Yahoo! has not gone bankrupt, let’s face it, but its current situation is incomparable with what it was a few years ago. Yahoo !, was one of the giants of the web: the site was among the most visited for fifteen years and was still in 2016 the third most used messaging system in the world. But by dint of missing out on opportunities, such as the takeover of Google in 2002 or that of Facebook in 2006, the teacher ended up being overtaken by his students. Today, without a miracle, it is probably a long decline that awaits Yahoo!.

4. Kodak

Kodak was the world leader in film photography, but we tend to forget that it is also the company that developed digital photography in 1975. A priori, the company therefore had all the cards in hand to stay in touch. pole position in the middle. However, in the 2000s, Kodak screwed up its digital transition and was completely overtaken by its competitors Canon and Nikon. Result: bankruptcy in 2012. Since then, activity has resumed and Kodak is still trying to get back into the game, but without much success. It’s sad. Less sad than climate change and rising sea levels, but still.

Top 8 companies that shouldn't have gone bankrupt, but went bankrupt when...
Photo credits (Public Domain): Original uploaded by Svgalbertian to English Wikipedia.

5. Polaroid

We stay in the photo with another giant of the film which is none other than this good old Polaroid. In 1948, Polaroïd developed photography with instant printing and it was a small revolution. Over time, the object improved, and by the early 90s it was very popular. But, as with Kodak, it was the digital switchover that hurt Polaroïd. The company did not adapt and had to restructure in 2001 before stopping production in 2007. End. Okay, not quite. Fortunately for Polaroid, the fashion for the snapshot is back and today the company is once again popular, but it’s still not far from the disaster.

6. Toys “R” Us

In the 1980s, Toys “R” Us began its global expansion to eventually dominate the toy market in the late 1990s. A priori, nothing could dethrone the brand. It was without counting on competition from supermarkets and, even worse, the arrival of Amazon. In 2000, Toys “R” Us signed a deal with Jeff Bezos’ platform to supply Amazon with toys, which seemed like a good idea. But Amazon quickly began to sell its own toys, and people eventually deserted physical stores and preferred the web. Without a dedicated website, Toys “R” Us found itself in the scoop and had to go bankrupt in 2017. If the brand had developed its own sales platform instead of popularizing Amazon’s, it might be still be on top today.

7. Blockbuster

Unknown in France, Blockbuster was a huge video club chain in the United States during the 80s and 90s. Blockbuster had over 9,000 stores back then (compared to just one today.) Of course, so it did. the fall of the giant is the rise of video streaming platforms. But where Blockbuster’s fate is tragic is that the company had the opportunity to make the digital shift and did not seize it. In 2000, Netflix, the small DVD rental company, was struggling a bit. She offered to join Blockbuster for $ 50 million, but Blockbuster refused. Result, two years later, Netflix goes public, obtains $ 82 million, and begins to develop its digital platform which will eventually sink Blockbuster. It’s terrible.

8. Myspace

If you wanted to follow musical artists or promote your band in the 2000s, you absolutely had to have a Myspace account. The social network made it possible to have a personalized page to share and follow content, which was already a small revolution at the time. Proof of its success, in 2005, Myspace was the 4th most visited site in the world (just behind Yahoo !, you know) and was bought for 580 million dollars by Rupert Murdoch. At the time, absolutely no one would have believed you if you had announced that Myspace would collapse a few years later and be bought out in 2011 for just $ 35 million by Justin Timberlake. Blame it on YouTube, Facebook and music streaming sites that have completely stifled its business model. Difficult to fight against so many giants at once. We miss you Myspace.

Top 8 companies that shouldn't have gone bankrupt, but went bankrupt when...
Photo credits: Tkgd2007

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