The American business magazine ‘Fast Company’, today, announced the world’s most innovative companies in 2020. Photo-sharing application Snapchat parent company Snap tops the list, Microsoft And Tesla rank second and third, respectively.
Also Read: Instagram Creators Admit That They Copied Snapchat’s Stories
In addition, Luckin Coffee ranks 17th, while Apple ranked 39th. ‘Fast Company’ points out that in just two and a half years after launch, Luckin Coffee has become China’s largest coffee chain, surpassing Starbucks, it took the latter more than 20 years to reach this status.
As of the third quarter of 2019, Luckin Coffee’s stores grew by more than 200% year-on-year, the customer base climbed by 413%, the number of customers who returned each month increased by 398%, and the number of products purchased increased by 470%.
In addition, Microsoft is on the list of the most innovative companies with its instant messaging platform Teams. Last year, Teams beat rival Slake as the most popular workplace instant messaging app in 2019. In July last year, its daily users were 13 million, and in January this year, it exceeded 20 million. Currently, 91 of the 100 largest US companies use it.
Last year, Tesla delivered 367,500 electric vehicles, meeting the company’s target of at least 360,000 vehicles. This number is equivalent to twice the combined sales of Tesla cars in the previous two years. Today, Tesla has finally become a mass-market car manufacturer.
Tesla has demonstrated its marketing skills since its inception, but operational execution has been its weakness. Today, Tesla not only achieved record-breaking car deliveries in the fourth quarter of 2019, it also achieved profitability. Last year, Tesla also opened a new plant in China and has begun delivering cars to the world’s largest electric vehicle market.
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The 50 most innovative companies in the world in 2020 by Fast Company
Top 10
- Snap (For Setting The Social Agenda)
- Microsoft (For Coalescing Teams)
- Tesla (For Earning The Pole Position In The U.S. Ev Sales Race)
- Big Hit Entertainment (For Mobilizing (And Monetizing) Music Fans)
- Hackerone (For Putting Hackers To Work)
- White Claw (For Brewing A Gender-Neutral Phenomenon)
- Shopify (For Enabling The Shopkeeper Of The Future)
- Canva (For Unleashing Corporate Creativity)
- Roblox (For Gamifying Gaming)
- Zipline (For Delivering The Most Important Goods—Fast)
The Rest
- Kaios Technologies (For Outsmarting The Smartphone Market)
- Beyond Meat (For Popularizing Meat Alternatives)
- Bravado (For Turning Bands Into Brands)
- Meesho (For Adding Shopping Carts To Social Posts)
- Spotify (For Becoming A Podcasting Powerhouse)
- Hello Sunshine (For Flipping A New Page In Entertainment)
- Luckin Coffee (For Caffeinating The Data-Driven Chain Restaurant)
- Merck (For Vaccinating Against Ebola)
- Whoop (For Bringing Pro-Level Science To Everyday Athletes)
- Sweetgreen (For Streamlining Delivery)
- Sage Therapeutics (For Treating Postpartum Depression Quickly)
- Indigo (For Fighting Climate Change With Farmland)
- Vimeo (For Successfully Pivoting To Enterprise Video)
- Caastle (For Renting Clothiers A New Business)
- Thredup (For Weaving The Clothing Industry Into The Circular Economy)
- Trove (For Getting More Out Of Clothes Built To Last)
- Brex (For Giving Startups Access To Credit)
- Hopper (For Eliminating Decision Fatigue In Travel)
- Strava (For Using Data To Put Athletes First)
- Immuta (For Helping Companies Comply With Evolving Data-Privacy Rules)
- Wattpad (For Mainstreaming Niche Stories)
- Attabotics (For Packing Warehouses (And Boxes) More Efficiently)
- Rothy’s (For Building A Direct-To-Consumer Brand That Stands Apart)
- Calm (For Coaching Your Brain)
- Twiga Foods (For Upgrading Kenya’s Informal Market Economy)
- Color Of Change (For Taking The Law Into Its Hands)
- Carta (For Facilitating The Rise Of Equitable Private Markets)
- Footprint (For Leading Business Toward Plastic Alternatives, At Scale)
- Apple (For Changing The Games)
- Truth Initiative (For Clearing The Air About Vaping)
- Vertex (For Attacking The Underlying Cause Of Cystic Fibrosis)
- Maven Clinic (For Navigating Workers Toward Parental Leave—And Back)
- Graphcore (For Processing Ai’s True Potential)
- Teachable (For Getting An “A” In Instructor Support)
- Bleacher Report (For Being Obsessed With Sports Culture)
- Rally (For Selling Collectibles By The Share)
- Omaze (For Incentivizing Giving)
- Io (For Diagnosing With Smartphones)
- Cameo (For Providing Fans The Thrill Of A Lifetime)
- Meow Wolf (For Captivating Audiences)
