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Tencent Leads Fast Company’s Top10 Innovators, Joined by DJI, Alibaba,K11,VIPKID

02-26 13:02 Caijing

In the age of automation, tech giant Tencent clinches the title as “themost innovative Chinese company” through its strategic use of content,according to business magazine Fast Company.

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In the newly released 2018 Fast Company Top 10 Most Innovative Companiesin China list, Tencent overtakes last year’s winner Alibaba to claim top spot.The latter slides to number six in this year’s report. Other familiar names onthe Top 10 list include DJI, the Chinese drone manufacturer, and Didi Chuxing,the ride-hailing startup.

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This year’s list, arguably the most diverse, also welcomes newcomers K11,a museum-retail concept founded by Adrian Cheng and VIPKID, an online educationplatform created by Cindy Mi.

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Fast Company said it hadplaced Tencent on top because it honours “content as king,” while Tencent isalso successfully turning WeChat, which has 980 million active monthly users,into a springboard for content consumption, including literature, music, videoand games.

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The ranking, entering intoits 11th year, sees the first inclusion of K11, a disruptive “mall-museumhybrid concept” which brings art, culture and commerce under one roof. Foundedby Hong Kong entrepreneur Adrian Cheng, K11 “brings together the interactiveand engaging nature of a shopping mall, the captivating beauty of an artexhibit, and the demand for environmental consciousness,” according to FastCompany. K11 Art Malls are now in Hong Kong (with a 99% occupancy rate, and amonthly footfall of over 1.5million), Shanghai and Wuhan. Two new K11 openingsare also scheduled for this year, in Guangzhou and Shenyang, to continue its“retail revolution.”

Another newcomer isBeijing-based VIPKID, an international online learning platform that has signedwith “more than 30,000 North American instructors and matches them with some200,000 primarily Chinese pupils,” wrote Fast Company in the ranking. Createdby Cindy Mi, who is said to have taught herself English, VIPKID’s studentpopulation quadrupled since the end of 2016, and officially joined the prestigious“unicorn” club in 2017. According to Fast Company, it has an impressive 95%student-retention rate with a forecasted $760 million in revenue in 2017.

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Rounding out the Top 10list are Bytedance, a Beijing-based AI-driven newsfeed platform, Haier, the consumerelectronics and home appliances company, New Degree Technology, the hardwarestartup and SF Express, China’s second largest courier.

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