Absolutely. Facebook wasn’t the first social network, and Google wasn’t the first search engine. It’s all about execution.
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A great example of this is The Samwer brothers and Rocket Internet incubator. The Samwer brothers are infamous for having made a very rich career out of building European Internet companies that look a lot like American Internet companies—and then selling those "clones" to their American inspirations. The two most famous examples are Alando.de, which sold to eBay for $50 million, and StudiVZ, which sold for $100 million. The price Groupon was reported to have paid for CityDeals was "somewhere around $100 million." http://eu.techcrunch.com/2009/10/07/while-other-german-vcs-wilt-the-samwer-brothers-invest-and-clone-like-mad/

