JioSaavn is the only Indian company which is ranked 28th and managed to find a position in the top 50 most innovative companies across the globe.
“To achieve scale in India you need the local advantage,” says JioSaavn CEO Rishi Malhotra.
“Fast company” is a monthly American business magazine published in print and online that focuses on technology, business and design.
It publishes 8 print issues per year. It currently operates a number of franchises such as “most innovative companies”, “world-changing ideas”, “innovation by design” and “most creative people”.
For their most “innovative company feature”, Fast company assesses thousands of businesses to create a list of 50 companies, it considers the most innovative.
This year (2019), a Chinese tech platform ‘Meituan Dianping‘ has topped the list.
Whereas, ‘JioSaavn’ has topped the most innovative companies in India, followed by ‘Oyo’ for expanding its hotel options to appeal to Youth and business travellers.
‘Saathi’ has been ranked 3rd for transforming banana fibres into bio-degradable sanitary pads.
‘ShareChat’, ‘ChaiPoint’ and ‘Dream11’ made the entry for the first time and got 7th, 9th and 10th rank respectively.
In 2018, Reliance Industries Limited took a majority stake in Saavn. JioMusic service offers more than 40 million tracks in 15 regional languages for 38 million active users.
Inspired by Netflix, the company also creates original content with independent artists.