Friday, June 9, 2023

Reliance Retail, Reliance Jio rank 6th, 7th in the world

Reliance Retail and Retail Jio are among the top 10 most valued companies in the world. With a valuation of $63 billion and $58 billion, they occupied the sixth and seventh spots respectively in a report by financial technology firm Tipalti. The companies are owned by India’s richest man Mukesh Ambani.
The report also stated the most valued companies across the world, Business Today reported.
Chinese tech company ByteDance, financial services corporation Ant Group and Elon Musk-led SpaceX are the most valued companies in the world.
These companies are called hectocorn or companies which are valued over $100 billion. Tiplati noted that it has picked up all the data from Crunchbase and Tracxn to collate the report.
ByteDance, which is the parent company of TikTok, is valued at $180 billion. Its valuation has soared by $40 billion in the last one year, the report revealed.
Jack Ma founded Ant Group has displaced SpaceX from the second spot this year. The company which owns AliPay is valued at $150 billion. SpaceX which slipped to the third place did not see a change in its value which continues to stand at $125 billion.
Edtech company BYJU’S which is one of the top Indian start-ups in the country did not get a spot in the top 10. It occupied the 18th spot on the list. Founded by Byju Raveendran, BYJU’s is valued at $22 billion.
Among the startups, BYJU’S and OYO are the only decacorns India has. Decacorn refers to a company which is valued at or over $10 billion.
The report also highlighted that India has maintained its position as the third largest start-up ecosystem, after the US and China. India continues to house the world’s third-largest number of unicorns. Its share is about 5.94 per cent of the world, the report stated.


Don't Miss