Page 20 - Fortune-November 01, 2018

04

TheFuture50 CTRIP.COM
INTERNATIONAL
CHINA (CTRP, $34)

5.3
3.9 1.4
Some are mining narrowly defined niches to produce phenom- AS CHINA’S middle class grows,
enal growth. Others are migrating into multiple industries outbound tourism is expected
to surge. Ctrip, China’s leading
with viral speed. Still others are inventing new business models online travel agent, has already
faced down stiff competition to
as they go. But each of these companies won its spot on become the dominant platform
the Future 50 by demonstrating both steady execution and for China’s hundreds of mil-
lions of domestic tourists; it’s
forward-looking strategic nimbleness. on target to see international
travel deliver 40% to 50% of its
revenue within a few years. Net
revenue for the second quar-
ter increased 13% year over
year, to $1.1 billion. Ctrip’s big-
gest new challenge: doing bat-
tle with Chinese tech giants like
Meituan and Tencent eager for
a piece of the lucrative market.

Market value: $18.5 billion

01 02 03 05

WORKDAY WEIBO SERVICENOW VIPSHOP
U.S. (WDAY, $124) CHINA (WB, $57) U.S. (NOW, $172) HOLDINGS
CHINA (VIPS, $5)

6.6 5.4 5.3 4.8
5.2 1.4 4.0 1.4 4.0 1.3 3.4 1.4

THIRTY-ONE CENTS out of ev- NOT LONG AGO, China’s answer SIX YEARS AGO, ServiceNow’s E-COMMERCE IS booming in all
ery dollar in revenue. That’s to Twitter was struggling: The market share in IT service man- segments in China, including
how much enterprise software- microblog platform had lost agement stood at 10%. By last fashion—the niche that Vip-
maker Workday spends on re- ground to Tencent’s messag- year, the cloud-based platform, shop specializes in. The online
search and development ev- ing service, WeChat, and Chi- which helps IT teams run an or- store runs discount promo-
ery year. That investment feeds na’s censors had begun forcing ganization’s technology infra- tions on brand-name cloth-
an unusually rapid cycle of the closure of user accounts. structure, had leaped to 40%. ing. Product revenue surged
product updates and improve- But Weibo has shrugged off ServiceNow claims 42% of the from roughly $3 billion in 2014
ments, which, in turn, has built tough times to become a pow- 2,000 largest global compa- to $10 billion in 2017. Its active
a loyal customer base that in- erful outlet, not just for short nies among its customer base; customer base grew 6% in Q2
cludes more than 35% of the posts but for long-form con- better yet, it has a 97% reten- to 29.8 million, a rise Vipshop
Fortune 500. Shareholders tent such as news reports, film tion rate. While this growth has attributes in part to new part-
have had reason to stay loyal, reviews, and videos. Second- come without much profit— nerships with the larger Ten-
too, to the tune of annualized quarter revenue grew 68%, and think of it as an IT Amazon— cent and JD.com. Such deals
returns of 27% over the past the platform clocked 431 mil- sales have risen almost 700% could help Vipshop personalize
three years. For more about lion monthly active users, up over the past five years, and the customer experiences through
what makes Workday run, see 19% year over year—all gener- company aims to hit $4 billion data-sharing arrangements
executive editor Adam Lashin- ating troves of data that Weibo in revenue, a 130% jump from and introduce social elements
sky’s feature on page 66. is now monetizing. today’s mark, by 2020. to its online shopping.
Market value: $27.0 billion Market value: $12.6 billion Market value: $30.6 billion Market value: $3.3 billion

COMPANY CAPACITY SCORE MARKET POTENTIAL SCORE
X.X OVERALL SCORE
X.X X.X