Value of the top-100 platform rises to $15.5 trillion

The world's 100 most valuable platforms have gained $1.6 trillion since the beginning of the year. dollars in value and are now worth a combined 15.5 trillion dollars. Dollars. Most of the increase has come from the Americas, whose platform companies now account for 74 percent. By contrast, Asia's share has crashed from 29 to 22 percent as a result of Chinese regulatory policies. Fearing overly powerful digital companies, the government is now even torpedoing IPOs in the U.S., which has reduced the stock market values of Chinese companies by several hundred billion dollars.

Nevertheless, the Chinese platforms should not be underestimated, because in real economic terms China remains on an expansion course. European platforms such as Klarna (Sweden) or Revolut (UK) have increased their valuations significantly in recent financing rounds, but Europe's share of the platform economy has remained modest at 3 percent.

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Winners and losers in the first half of the year:

Largest absolute gains in the top 100 this year:

  1. Alphabet (USA) $546 billion
  2. Microsoft (USA) $436 billion
  3. Facebook (USA) $198.7 billion
  4.  Apple (USA) $183 billion
  5. Amazon (USA) $172 billion
  6. PayPal (USA) +7$3 billion
  7. Sea (Singapur) +$41 billion
  8. Intuit (USA): +$38 billion
  9. Kakao (Südkorea) +$27 billion
  10.  Instacart (USA) +$21 billion

Largest relative gains in the top 100 this year:

  1. Kakao (Südkorea) +95 percent  
  2. Sprout Social (USA) +86 percent
  3. Naver (Südkorea) +50 percent
  4. Alphabet (USA) +48 percent
  5. Weibo (China) +47 percent
  6. Iflytek (China) +46 percent
  7. CarMax (USA) +42 percent
  8. Sea (Singapur) +41 percent
  9. Tradeweb Markets (USA) + 39 percent
  10. Ebay (USA) + 37 percent 

Biggest absolute losers from the top 100 this year:

  1. Pinduoduo (China) -$81 billion
  2. Ping An (China) -$75 billion
  3. Alibaba (China) -$63 billion
  4. (China) -$61 billion
  5. KE Holdings (China) -$29 billion

Not only has Alibaba lost a lot of stock market value, but its market share in China has fallen back below 50 percent for the first time. In contrast, (16.9 percent) and Pinduoduo (13.2 percent) have made strong gains over the past year, supporting the thesis that while "winner takes all" is captivating in theory, it is quite often not observable in practice.

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5 years of platform index

Despite the correction of many stock market stocks in the spring and the Chinese decision to move forward with their decoupling from America, the global platform economy clearly remains on a growth trajectory. The Platform Index have been tracking the performance of the platform economy on the stock market for 5 years with the Platform Index. Since its launch in July 2016, the index - calculated using the gross price return method - has gained around 300 percent, clearly outperforming traditional indices and the tech stocks in the Nasdaq Composite.

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Indian platforms move into focus

Venture capital for startups, much of which flows into platform models, climbed to a record high of $156 billion in the second quarter. By the middle of the year, investments in young digital companies had already almost reached the total level of the previous year, shows the new "State of Venture Report" from CD Insights. The main target country for these financial injections remains the U.S., but Europe has increased its share to 19.5 percent, while Asia continues to fall behind.

Chinese regulatory policies have not only caused the share prices of major digital companies to plummet, but also lowered the interest of VCs. Compared to the fourth quarter of 2020, venture capital for China's startups is down 18 percent, as hopes for attractive IPOs are much lower in Hong Kong than in New York.

With China's seemingly inexhaustible reservoir of IPOs suddenly drying up, international investors' hopes are now turning to other Asian markets such as India and Indonesia. "India's tech IPO boom has been long-awaited - there are some world-class companies in the pipeline," said Udhay Furtado, co-head of Asian equity capital markets at Citigroup. "There is clearly a global appetite . . we're seeing investors from all corners of the world, including some who have not been active in the local Indian market." In India, platforms in particular are also benefiting from the sudden investor attention:

The delivery platform Zomato successfully placed its shares on the market. The tranche for institutional investors was probably 55 times oversubscribed; the allocation for private investors apparently another 8 times. Zomato shares will be listed in India from July 27.Payment platform Paytm has also launched its IPO. The major shareholders are Ant Financial (36%), Berkshire Hathaway and Softbank (18 percent each).Indonesia's largest digital group Go To, formed by the merger of cab service Gojek and trading platform Tokopedia, is also pushing to go public. Apparently, New York is also earmarked as a trading venue.Flipkart, the Amazon competitor in India acquired by Walmart, also has IPO plans. The company is currently valued at $38 billion.

Platform markets: sector and industry trends


Platforms will focus on AI-driven problem solving and demand response for business cases. Platforms in this area have been developed in the US, Southeast Asia, and China for several years, and are gradually becoming established in B2B environments nationwide or internationally.

Real Estate

There will be a focus on challenges in investment and financing, real estate services, and IT and data platforms. Further, solutions to the day-to-day problems in refurbishing and managing real estate and digital support for new real estate through platforms will come to the fore.


Despite regulatory requirements, energy platforms will redefine the rules of the game in local, regional and international markets. The focus will be on data exploitation, trading and payment, roaming of charging stations, roaming of energy as a cloud model, dovetailing with the real estate and mobility industries, and on-demand services.


Some platforms such as Udemy,, Udacity or coursera have been strengthened. The current private challenges lead to more new education platforms for children and youth. The skill requirements of enterprises will provide for the emergence of business partner platforms. The democratization of AR/VR devices will have a massive impact on this development in 2022.


Here, B2B and B2B2C platforms will focus more on the specific needs of companies. Placement of professionals, managers, micro-jobs, specific skill requirements, freelancers and Expert:in will have a higher priority. Nearshore and offshore platforms will offer and place more and more specialists.


Mobility platforms will show three trends: 1. the regional dovetailing of mobility platforms with rental and subscription car companies 2. the dovetailing of mobility platforms with energy, charging station and billing platforms 3. the adaptation of B2C mobility platform business cases into the B2B world.

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