Deloitte Announces 2018 Asia Pacific Technology Fast 500™ Rankings, with highest growth ever for all 500 at 987%
- Chinese open platform real estate listings provider Ke.com takes the top spot
- Average revenue growth of the Top 10 reaches the highest ever in the 17 years of the Ranking at 17,314%
- China claims majority of top 10 with seven companies – a first for the country
- Software continues to dominate, followed by Media and Hardware
SINGAPORE, 06 December, 2018 — Deloitte Touche Tohmatsu Limited (DTTL) today released the 2018 Asia Pacific Technology Fast 500, an annual ranking of the fastest growing Asia Pacific companies in the software and hardware tech sectors, clean technology, media, communications and life sciences. Chinese unicorn, Ke.com (Beijing) Technology Co Ltd, claimed the top spot with a growth rate of 32,179 percent over three years. This years' average growth rate of the top ten winners reached an all-time high at 17,314 percent. This was reflected in the average growth rate of all 500 companies, also reaching the highest ever in the 17 years of the ranking, at 987 percent. Nine of the top ten companies are private.
Based in Beijing China, Ke.com is an open platform online real estate listings provider that offers an ecosystem of new, second-hand and rental properties for users. The company has a technology driven platform that incorporates various innovative technologies such as the VR viewing function that provides interactive 3D viewing of listed homes for users. The company is owned by Lianjia (AKA, Homelink), one of China’s largest real-estate brokerages.
"This year brings an interesting and diverse selection of B2B e-commerce, including real-estate, chemicals, textiles, industrial supplies and fintech companies " said Toshifumi Kusunoki, Deloitte Leader, Asia Pacific Technology Fast 500 Asia Pacific. "We are witnessing a rapid transition from legacy business models to online platforms among B2B ecosystems and China is at the forefront of this growth."
Commenting on their win, Stanley Peng, CEO of Ke.com, said "We are honored to be recognized by Deloitte's Technology Fast 500 Asia Pacific. Our success lies in BeiKe, a platform that connects consumers and businesses, with a property transaction gene. BeiKe is an industry infrastructure that has facilitated an ecosystem for diverse real estate brands, stores and agents, bringing together and empowering agencies of the property market, with similar value and goals.
Awardees are selected for the Technology Fast 500 ranking based on percentage fiscal year revenue growth over three years. Of the companies ranked, China continues to stand out in the region, with seven companies in the top 10, and nearly thirty percent of the 500.
Taiwan contributed 91 companies followed by Australia with 71 ranked companies in the top 500 both down from previous years. This is the first year Taiwan has no presence in the top ten, having been a mainstay since the ranking's inception. Two India companies hold 6th and 7th spot; MogIi Labs, an ecommerce business offering B2B procurement of industrial supplies, and Razorpay, which offers a secure method for merchants, schools, and ecommerce companies to accept online payments.
Three homegrown Singapore companies also secured places in the rankings. Synagie Corp Ltd came in at no. 22, followed by Knolskape Solutions Pte Ltd and vKirirom Pte. Ltd at no. 194 and 251 respectively.
China has the top performing company in all sectors except Clean Energy, which is taken by a company from India; Oriano Clean Energy Private Limited. As has been the trend for the past six years, software continues to dominate sector growth. Down slightly from 214 companies last year, the 2018 rankings include 190 software companies in the top 500, accounting for 38 percent of the companies ranked. Five of the top ten are software companies, of which two; Weshare Financial ranked third and Razorpay, ranked seventh, fall under Fintech classification.
"The growth of digital services combined with the need for flexible financing has fueled the growth of fintech companies, and digital savvy customers in Asia Pacific, especially small and medium enterprises who are embracing fintech offerings for growth and geographical expansion. We also see leading banks in China focusing on digital transformation, investing in areas such as big data, AI and blockchain, which is leading to this growth of the B2B fintech segment" said William Chou, Deloitte China Technology, Media and Telecommunications Industry Lead Partner.
Media regained its spot as the second most prevalent sector in the ranking, with 107 companies in the Technology Fast 500, three of which make the top ten; overall winner Ke.com; runner up IBUYCHEM.com, a leading B2B platform in the chemical industry, and fourth-ranked, Qingdao Sinotex E-Commerce Co Ltd, a textile B2B platform.
Revenue Growth Trends
The top 500 companies in 2018 averaged revenue growth of 987 percent, an increase of 387 percentage points from 2017, which saw average revenue growth of 600 percent.
The top ten companies in the ranking achieved average revenue growth of 17,314 percent. Both the top 500 and top 10 revenue growth figures are the highest ever recorded in the seventeen years of the program.
The full list of winners of the 2018 Asia Pacific Technology Fast 500 and details about the nomination and eligibility criteria of the program can be found on www.deloitte.com/fast500asiapacific
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