It took computer company Apple only five years to become America’s largest music retailer, and just seven to become the world’s largest. In 18 short months, search engine Google erased 85 percent of the market cap of the top GPS companies after launching its mobile maps app. Alibaba, China’s equivalent to Amazon, became a $16 billion lender in less than three years, and China’s largest seller of money market funds in only seven months.
Banks’ New Competitors: Starbucks, Google, and Alibaba
Non-financial companies are increasingly offering consumer-friendly payment options.
February 20, 2014
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New!
HBR Learning
Finance Essentials Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Finance Essentials. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Strengthen your fluency in financial statements.