Two Indian companies, Jio Platforms and Byju’s have made it to the 2021 TIME 100 Most Influential Companies list. The list consists of companies from various sectors including technology, healthcare, entertainment, and more. “The result is a diverse array of 100 institutions, from the tech startup engineering a smarter way to recycle to the cryptocurrency firm reimagining the future of money to the pharma titans creating the vaccines of tomorrow (and today). Together, these businesses—and the leaders who steer them—are helping to chart an essential path forward,” the magazine said.
As per the TIME magazine, over the past few years, Reliance Industries has built India's largest 4G network by charging some of the lowest data rates in the world. Now leading investors are turning to Jio Platforms, the holding company for Reliance's digital businesses, to reach its more than 410 million subscribers, it said. "Last year, Jio raised over $20 billion in capital, a testament to the value and potential of its rapidly growing user base," it said.
This is the first ever list, TIME has come out with regarding the most influential companies in the world. that highlights businesses making an extraordinary impact around the world. To assemble it, TIME solicited nominations across sectors including health care, entertainment, transportation, technology and more from our global network of editors and correspondents, as well as from industry experts.
Regarding ed-tech company Byju’s, TIME said that as users of his company's signature app nearly doubled to 80 million during the COVID-19 pandemic, Byju Raveendran, the founder went on a spending spree, fuelled by funding from investors like Tencent and BlackRock.
Byju’s summer acquisition of WhiteHat Jr, an app that teaches kids to code, along with the purchase of Silicon Valley educational-game maker Osmo in 2019, gives the company a foothold in the US e-learning market.
In April, the company announced plans to dramatically expand outside its home base in India, adding one-on-one lessons in the US, the UK, Indonesia, Mexico and Brazil.
Byju's also snapped up a leading Indian test-prep school for almost $1 billion. The explosive growth has turned Byju’s into one of India's most lucrative startups, increasing the company's expected value to $15 billion, up from $5.5 billion in July 2019, it said.
With IANS inputs