You probably heard that Twitter celebrated its 5th birthday yesterday.
The flash-sales model pioneered in the US by GiltGroupe is about 3 1/2 years old.
Groupon was founded in November of 2008, not even 2 1/2 years ago.
While it remains unclear whether Twitter will go the way of a MySpace or a Facebook, it’s hard to question that they have forever changed the way people communicate and engage.
The collective valuation of the flash-sale sites launched in the US is likely already greater than that of Saks Fifth Avenue, a pretty powerful brand that is more than 100 years old.
Groupon turned down an offer from Google to be bought for $6 billion and is rumored to be seeking a $25 billion valuation in an IPO later this year.
These innovative new business models are rapidly gaining share from industry incumbents who are slow to go through the cycle of awareness, acceptance and action.
If it hasn’t happened to your industry yet, rest assured it will.
So let’s all wish Twitter a Happy Birthday.
And then, go figure out whether you are driving the right car or not.
Either way, get ready to step on the gas.