2020’s Top Platform Companies

In spite of a devastating pandemic and a moribund economy, many platform businesses have not only survived, but also thrived, scaled and prospered in 2020. The year also saw many historic IPOs.

Here, I have ranked the platforms companies and marketplaces based on the percentage gains in market value. Some of the smaller companies like Peloton, Zillow, Teladoc, Fiverr etc. also manged to achieve a big rise in the market capitalization, but this also gives too much weight to the these companies. For example Fiverr increased the market value in 2020 by 837%. For this reason, only the companies with a minimum $10bn market value were considered for the final ranking. Some of the companies which went for an IPO in towards the end of 2020 such as Airbnb, Doordash were also excluded from the final list.

Around 100 companies’ financial data was obtained from the public available data sources as Bloomberg, Yahoo, Quandl etc. 17 out of the top 30 platform companies are based in US & 5 in China.

1. Zoom | 408% increase in market value | $96.48bn end-2020 market value

2. Pinduodo | 355% increase in market value | $217.88bn end-2020 market value

3. Twilio | 280% increase in market value | $54.32bn end-2020 market value

4. Pinterest | 280% increase in market value | $40.73bn end-2020 market value

5. Square | 255% increase in market value | $98.14bn end-2020 market value

6. Chewy | 214% increase in market value | $37.09 end-2020 market value

7. Snap | 214% increase in market value | $74.60bn end-2020 market value

8. Shopify | 191% increase in market value | $138bn end-2020 market value

9. Match Group | 189% increase in market value | $40.21bn end-2020 market value

10. Meituan | 183% increase in market value | $220.27bn end-2020 market value

11. Carvana | 180% increase in market value | $41.15bn end-2020 market value

12. MercadoLibre | increase in market value | $83.54bn end-2020 market value

13. Kakao | 153% increase in market value | $30.81bn end-2020 market value

14. JD.com | 146% increase in market value | $136.23bn end-2020 market value

15. Zalando | 116% increase in market value | $27.47bn end-2020 market value

16. Spotify | 113% increase in market value | $59.66bn end-2020 market value

17. Paypal | 111% increase in market value | $274.41bn end-2020 market value

18. Delivery Hero | 108% increase in market value | $30.95bn end-2020 market value

19. Atlassian | 93% increase in market value | $58.28bn end-2020 market value

20. Slack | 92% increase in market value | $24.35bn end-2020 market value

21. Amazon | 73% increase in market value | $1.6Tn end-2020 market value

22. Apple | 71% increase in market value | $2.2Tn end-2020 market value

23. Twitter | 71% increase in market value | $43.07bn end-2020 market value

24. Uber | 69% increase in market value | $89.95bn end-2020 market value

25. Yandex | 69% increase in market value | $24.52bn end-2020 market value

26. Netflix | 65% increase in market value | $238.89bn end-2020 market value

27. CoStar Group | 60% increase in market value | $36.43bn end-2020 market value

28. Baidu | 54% increase in market value | $73.75bn end-2020 market value

29. MarketAxess | 50% increase in market value | $21.66bn end-2020 market value

30. Tencent | 45% increase in market value | $689.05bn end-2020 market value