Jio Music and Saavn merger seems to be a hit product as American business magazine Fast Company that released its annual report on the world’s 50 Most Innovative Companies, has picked up only JioSaavn from India in its list.
The music streaming app that offers more than 40 million tracks in 15 regional languages for 38 million monthly active users, has been ranked 1st in the list of top 10 Indian firms in Most Innovative Company on a country basis.
Last year, the telecom operator Jio was chosen as India’s most innovative companies followed by Paytm and InMobi. While Paytm couldn’t make it to top 10, budget hotel brand OYO has grabbed the 2nd position in the list.
The Gurugram-headquartered has got this coveted place for expanding its hotel options to appeal to business travellers.
Notably, biodegradable sanitary napkins manufacturer Saathi has come up as the third most innovative companies from India.
Another fresh entry in the top five is RupeeCoin. The microlending company uses big data and AI to redefine credit scores for unbanked people.
Apart from OYO, only two unicorns from India were able to sneak into the top 10 list. Ola grabbed the 5th rank while foodtech major Swiggy has got 8th position for excellent food delivery service.
ShareChat, ChaiPoint, and Dream11 also make the entry for the first time and got 7th, 9th, and 10th rank respectively.
Globally, Meituan-Dianping led the race followed by South East Asian cab hailing giant Grab and New York-based gaming firm NBA. The Walt Disney Company and Stitch Fix are in the top 5 list.
Interestingly none of the top 5 companies (Apple, Netflix, Square, Tencent, and Amazon) in Fast Company’s 2018 edition could manage to get a position in the top 10 table. Apple, that was ranked 1st in the previous year, is now ranked at 17th.
In a nutshell, JioSaavn has grabbed the eyeballs for being the only Indian company that was ranked 28th and managed to find a position in the top 50 most innovative companies across the globe.