Are Pinterest Clones the New Groupon Clones in China?

What a difference a year makes! A year ago, inspired by the success of Groupon in the US, group buy clones were spreading across the Chinese internet like wildfire. At the peak of the madness, China had over 5,000 different group buy sites. These days, though, the verdant green fields of internet through which little group buy clones once scampered are now littered with their bones.

But those fields are still verdant and green, and it looks like a new kind of clone may be rising to enjoy its time in the sun before its inevitable over-saturation and self-destruction: Pinterest clones. For those not in the know, Pinterest is a social pinboard site, where people can share and organize photos. In the past two months we’ve written about Chinese net giants like Renren, Qihoo, and Tencent launching Pinterest clones, but they’re not alone. In fact, there are already more than thirty Pinterest clones afoot. There’s Duitang and Zhimei and Mishang and MarkPic and Pinfun and Budou and iCaitu and…OK, I’ll stop. You get the picture. (See what I did there?)

Now, by Pinterest “clone,” I really just mean that these sites took the concept of Pinterest, not necessarily the design or every little feature. I am sure they are all unique and beautiful snowflakes. However, they’re going to melt like a snowball in a microwave if they keep multiplying. The Chinese market can probably support thirty Pinterest clones for a little while, but how many of these are there going to be by next month?

On the one hand, the fact that it’s logistically easier to start this sort of social media site — you don’t need local teams in every city across the country — means that Pinterest clones may actually spread faster than group buy sites did. On the other hand, that ease will keep costs and team sizes down, so at least when the culling of these clones comes to pass, we probably won’t see as many news stories about huge layoffs and branch closing. Hooray?

I do think there’s some value in taking Western services and making them work in China (although I’m not sure why the West or the East needs yet another social networking service). But when dozens of other companies are already doing that, maybe it’s better to reevaluate your plans, or join one of those other companies and build your Pinterest clone that way.