Outpacing the likes of Amazon, Walmart, Microsoft, Google and Netflix, China’s instant messaging application Momo has become the fastest-growing company in the world. While Jeff Bezos’ Amazon is the 11th fastest growing company in the world and Netflix fifth, the eight-year-old Momo has left behind some of the most valuable companies in the world in a list compiled by Fortune. Momo, the Tang Yan co-founded company is based in China’s capital city Beijing and was listed in three years of its inception in 2011. Momo’s current market capital is about $6.88 billion while Amazon is valued at over $871 billion.
Even when India is home to several leading start-ups and Mukesh Ambani’s Reliance Industries Limited, no Indian company has featured in the list. Other than Momo, US-based real-estate company Texas Pacific Land Trust, US-based tech firm Micron Technology, US-based pharmaceutical company Corcept Therapeutics and US-based on demand video streaming application Netflix are growing at the fastest pace.
Texas Pacific Land Trust
The 1888 founded company is among the largest landowners in Texas, US and has about 888,333 acres located in 18 different counties. The company gets revenues from various avenues viz “managing the land, i.e. oil and gas royalties, grazing leases, easements, sundry and speciality leases, and land sales”. TPL is a listed company with a valuation of $4.88 billion.
Micron Technology
The US-based producer of computer memory and computer data storage, Micron Technology was founded about 40 years ago and is a listed company with over $45 billion market cap. The company had recently announced the first microSD card with a storage capacity of 1 terabyte (TB).
Corcept Therapeutics
The US-based pharmaceutical company engages in the discovery, development and commercialization of drugs. The company was founded in 1998 and has a valuation of over $1 billion.
Netflix
The 1997 founded company is one of the leading platforms for media services and entertainment.