Meituan, Grab top US mag’s list of world’s 50 most innovative companies

China’s Meituan-Dianping and Southeast Asia’s Grab have been rated as the planet’s two most innovative companies by Fast Company.

The US-based magazine hailed the two sizable internet firms for beating their archival tech titans – Alibaba and Uber, respectively – and for building on top of their original services with an array of digital offerings.

“Both Meituan and Grab are what’s known as transactional super apps, amalgamations of lifestyle services that connect hundreds of millions of customers to local businesses,” wrote Fast Company. “They may not be well known in the US, but Meituan and Grab are changing the lives of hundreds of millions of consumers and millions of merchants with highly complex operations disguised as simple transactions – elegant tech to enable real-world experiences.”

Grab’s “other Tan,” co-founder Tan Hooi Ling / Photo credit: Rise / Flickr

Grab co-founder Tan Hooi Ling this morning said the firm is “humbled” to receive the accolade “alongside an impressive cohort of global companies.” She added, “I am proud of the work our teams are doing to build a more digitally and financially inclusive Southeast Asia.”

Amazon and Google were the top two in Fast Company‘s 2017 list.

Alibaba (15th) and Indian music-streaming app JioSaavn (28th) also represented Asia in the latest 50 most innovative companies list. For the full 2018 roster, go here.