RAKS: Dünyanın Teknoloji Deviyken Batan Türk Şirketi..!

RAKS: A Turkish Company That Failed After Being a Global Technology Giant! Once one of Turkey's and the world's largest cassette and music companies, RAKS was founded in 1964 through the initiative of Aslan Önel. What began with the production of magnetic audio tapes and cassettes evolved into a giant in the music and electronics industry in the 1980s and a source of pride for Turkey in the 1990s. RAKS produced for global giants such as Maxell and Sony, was traded on the NASDAQ, and formed partnerships with PolyGram and Universal Music. At the same time, it dominated the Turkish music industry by bringing together figures such as Ajda Pekkan, İbrahim Tatlıses, Ahmet Kaya, and Sezen Aksu. To combat cassette piracy, it introduced holographic cassettes, reducing piracy from 90% to 15%. It also undertook major social responsibility projects such as the "Love the World" project. However, towards the end of the 1990s, the Asian and Russian crises, the Marmara Earthquake, flawed financing strategies (growth through short-term debt), and missing the digital transformation trend (failing to make timely and sufficient investments in CDs, the internet, and digital media) dealt a heavy blow to the company. While they launched one of Turkey's first internet services with the RaksNet project, this investment was short-lived. A bankruptcy declaration was filed in 2007. Thousands of employees lost their jobs, factories closed, and investors suffered. Today, the RAKS brand lives on only in heating and cooling devices. Old cassettes are nostalgic keepsakes for collectors. #raks #documentary #successstories