The list of the most innovative companies in the world today has changed nearly completely in hardly five years. This is how fast things can change.
|1. Apple||1. Warby Parker|
|2. Twitter||2. Apple|
|3. Facebook||3. Alibaba|
|4. Nissan||4. Google|
|5. Groupon||5. Instagram|
For years, Tech Magazine Fast Company has followed trends in design, technology and entrepreneurship. Each year it lists the top-fifty most innovative companies. Anyone who compares the 2011 list to the 2015 list will see major differences. Apple is the only company to remain in the top five. A company considered progressive and innovative in 2011 may not even be mentioned only five years later. Or worse, may be overtaken by a company that had barely started five years earlier.
Check out these three notable companies:
In 2011 Nissan was still in fourth place. The carmaker earned that spot thanks to Leaf, its electric car. However, in 2015 Nissan is no longer on the list. Its competitor, Tesla, known for its combination of software and their electric cars, is 17th on the list in 2015.
The Chinese Internet company, Alibaba, is at number three on the list in 2015 while it did not appear on the list in 2011. The editors of Fast Company point out that Alibaba is more than a Chinese eBay-Amazon-Paypal combination. The company is, for example, also trying to change the financial sector in China by offering higher interest on savings than state banks. It has also set up a film fund to offer an alternative method of financing the film industry.
According to Fast Company, Warby Parker currently tops the list of the most innovative companies. Warby Parker sells spectacles through its website and in only a limited number of physical outlets. For each pair of glasses sold, the company helps opticians in developing countries to sell affordable glasses.
Although Warby Parker still only sells spectacles, Fast Company expects that the company can be just as successful in other niches.
The company launched in February 2010 with an investment of USD 2,500. Just one year later, it managed to raise USD 2.5 million from its first round of investors. Four months later, it generated another USD 12.5 million. A year later it received another USD 37 million.
And so it continued… in April 2015, Warby Parker was valued at USD 1.2 billion and, according to insiders, it generated sales in excess of USD 100 million. According to Fast Company, it is the world’s most innovative company.
This is what can happen in just five years’ time.