TIME magazine, one of the most popular in the world, has released the list of 100 most influential companies in the world in 2021. Mukesh Ambani’s Jio and edtech startup Byju’s from India found the place in that prestigious list. Jio platform has revolutionized the telecom industry in the world, whereas Byju’s has changed the online education environment in India.
How Jio Found the Place in TIME magazine’s List?
As per the TIME magazine, Jio has built the largest 4G network in India with nominal prices. The company has solved three major issues related to telecom in India. First, it helped the consumers to get fast internet speed. Second, Jio dropped the telecom services charges to a low level to make them affordable for all.
Initially, it provided completely free telecom services for more than a year. Later, it brought low price data plans to make it available for everyone. Third, Jio helped India in digitization. The 4G network reached remote areas due to the huge telecom network of Jio. The telecom firm is also the fifth strongest brand in the world.
TIME magazine said:
“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.”
Talking about the Jio telecom further, it added:
“Last year, Jio raised over $20 billion in the capital, a testament to the value and potential of its rapidly growing user base.”
This is the first time, TIME magazine has performed such research to know the most influential list of companies in the world.
What kind of impacts these companies are making on the world, that is the main criteria of shortlisting the companies. Jio has influenced the other telecom companies in India to bring the service charges down. Not only that, but it also forced those companies to provide quality services to their customers.
TIME magazine took the nominations from every business sector including health care, entertainment, transportation, technology, and others. The magazine also contacted editors and correspondents to know about the influential companies. Not only that, but the magazine also had a discussion with industry experts to know their views about the nominated firms.
Byju’s also Got Featured in TIME’s 100 most influential Companies Lst
Edtech firm Byju’s has also found a place in TIME magazine’s list of most influential companies. The startup has changed the game completely in the online education ecosystem.
TIME report revealed that the user base of Byju’s app has been doubled to 80 million within a year. Byju Raveendran, the founder, and CEO of Byju’s, has collected huge funds from its investors to strengthen its operations. Tencent and BlackRock are two of the known investors of Byju’s.
The Byju’s is on an acquisition spree in recent months. WhiteHat Jr(an online platform for kids to do programming), Aakash(India’s most recognized coaching institute for medical and engineering exams), Osomo(educational game maker from Silicon Valley) are the major acquisitions of edtech startup in recent years.
A few weeks back, Byju’s announced that it’s going to start its operations in other countries including the US, UK, Indonesia, Mexico, and Brazil.
Talking about Byju’s, TIME said:
“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”