Using Social Media to Accelerate the Internationalization of Startups from Inception

Abstract

A set of principles, processes, and tools that entrepreneurs can use to rapidly internationalize their technology startups from inception does not exist. This article discusses entrepreneurs' use of online social media networks to rapidly internationalize their startups from inception. The article was inspired by how the founders of Dewak S.A. rapidly internationalized their technology startup. Dewak was founded by five unemployed Colombians in June 2008. Two years later, foreign sales comprised 95% of the firm's revenue and provided the founders with full-time employment. Dewak's only channel to market was via online social media networks. Recognizing that entrepreneurs can use social media to amplify their tacit knowledge and convert it into sellable products and services contributes to the development of a learning-based view of rapid internationalization from inception. The article provides entrepreneurs seeking to launch and grow global businesses with four recommendations that may save them time and money and increase the size of their addressable markets.