Largest Internet Companies in 2024
There’s no questioning the influence internet companies have on businesses today. Not only have they revolutionized the business landscape with their technological innovations, but larger companies like Alphabet, Meta, and Amazon are also constantly shaping consumer behavior, redefining market dynamics, and helping businesses reach new growth heights.
In this post, we take a close look at the largest internet companies in the world, ranked by their market capitalization.
Largest internet companies by market cap: table
|
Company |
Market cap (as of July 2024) |
|
1. Alphabet |
$2.34 trillion |
|
2. Amazon |
$2.07 trillion |
|
3. Meta Platforms |
$1.34 trillion |
|
4. Tencent |
$452.3 billion |
|
5. Netflix |
$295.5 billion |
|
6. Pinduoduo |
$187.0 billion |
|
7. Alibaba |
$174.7 billion |
|
8. ServiceNow |
$157.4 billion |
|
9. Uber |
$148.9 billion |
|
10. Booking Holdings |
$135.2 billion |
Top internet companies by market cap
In today's digital age, the landscape of the largest internet companies is constantly evolving. As of July 2024, the list of the top internet companies features two with a value exceeding $2 trillion. Plus, of these top 10 internet companies, more than half were founded in the United States and China.
Here’s a full breakdown.
1. Alphabet $2.34 trillion)
Recent data reveals the top internet company in the world is Alphabet. With entities like Google and YouTube in its portfolio, its number-one ranking should come as no surprise. As of July 2024, Alphabet’s market capitalization is $2.34 trillion. Alphabet’s company value has surged over the past decade. In 2014, it was valued at $359.5 billion—around one-sixth of its current value.
Known for its dominance in the global search engine market, Alphabet also generates significant revenue from advertising, cloud computing, and other ventures.
2. Amazon ($2.07 trillion)
Securing the second spot among the biggest internet companies is Amazon, with a market cap of $2.07 trillion. Founded by Jeff Bezos, it is also the largest ecommerce company worldwide and stands as one of the largest retailers in the United States.
Starting out as an ecommerce marketplace, the company has since diversified its business model and today includes cloud computing (AWS), streaming services (Prime Video), and artificial intelligence among its online services. Amazon’s growth has been nothing short of impressive and sales are set to surpass half a trillion dollars by 2025.
Alphabet and Amazon are the only two internet companies whose market values are currently more than $2 trillion.
3. Meta Platforms ($1.34 trillion)
Social media titan Meta ranks next. Formerly known as Facebook, its market capitalization is currently $1.34 trillion. Like Alphabet, Meta’s market cap has experienced a significant rise since 2014, when it was valued at $216.7 billion.
The firm’s ecosystem includes Facebook, Instagram, WhatsApp, and Oculus, making it a leader in social media and virtual reality. Meta’s advertising revenue is expected at $134.72 billion in 2024, representing a 10.5% annual rise.
4. Tencent ($452.3 billion)
Tencent, a Chinese multinational conglomerate, is the fourth-largest internet company. Its current market capitalization is $452.3 billion.
Known for its popular social media app WeChat and its extensive investments in gaming, Tencent has a significant presence in the Asian market. Its diverse portfolio includes entertainment, artificial intelligence, and fintech services.
5. Netflix ($295.5 trillion)
Video-streaming service Netflix rounds out the five biggest internet companies, with a value of $295.5 billion.
As a pioneer in the streaming industry, Netflix continues to expand its content library and global reach. The company's innovative approach to content creation and distribution has solidified its position as one of the top internet companies.
6. Pinduoduo ($187.0 trillion)
Pinduoduo, a Chinese ecommerce platform, has a market cap of $187 billion. It stands out with its unique social commerce model, which encourages users to share deals and make group purchases. This innovative approach has helped Pinduoduo rapidly grow its user base and market value.
7. Alibaba ($174.7 trillion)
Alibaba, another Chinese ecommerce titan, is currently valued at $174.7 billion and ranks as the seventh-largest internet company.
With a robust ecosystem encompassing online retail, cloud computing, and digital payments, Alibaba is a major player not only in the domestic Chinese market but also on the world stage. The company's revenue for fiscal year 2023 was $120.8 billion, driven by its diversified business operations.
8. ServiceNow ($157.4 trillion)
ServiceNow, an American software company specializing in cloud computing solutions for enterprises, has a market cap of $157.4 billion. Its platform helps organizations automate and streamline their IT operations, making it a crucial player in the business software market.
9. Uber ($148.9 trillion)
Uber, the ride-hailing and food delivery giant, is valued at $149 billion. Despite facing regulatory challenges and market competition, Uber continues to expand its services and global footprint. Its diverse offerings include ride-sharing, Uber Eats, and freight services.
10. Booking Holdings ($135.2 trillion)
Completing the list of the top 10 internet companies is Booking Holdings, which owns popular travel booking platforms like booking.com, agoda.com, and kayak.com. The leader in online travel and related services currently has a market cap of $135 billion.