amazon prime boxFast Company announced its annual ranking of the world’s 50 Most Innovative Companies, and Alibaba, the Chinese e-commerce powerhouse, ranks third on the list.

Alibaba, which grabbed headlines last year for raising a jaw-dropping $25 billion in its initial public offering, is in the best position to go up against Amazon, which is why it is also worth pointing out that the Seattle-based company fell off the list this year after ranking No. 18 for “single-handedly transforming the retail landscape” in 2014.

The closest Amazon came to making the list this year was with Twitch, the live gaming network it acquired, which was listed as the second-most innovative company on the gaming subcategory. Despite Amazon’s vast diversity of products, it did not make any of the other sector lists, ranging from retail to big data, consumer electronics or video.

Fast Company awarded the overall most innovative company of the year to Warby Parker, the online eyeglass company for building “the first great made-on-the-internet brand.” The top 10 companies following Warby Parker are: Apple, Alibaba, Google, Instagram, Color of Change, HBO, Virgin America, IndiGo and Slack. For the full list go here.

But falling off the list this year is not especially a huge distinction. In fact, only five brands were recognized on both lists, showing how fast opinions about technology can change. They are: Apple, Google, Netflix, Tesla Motors and Warby Parker.

Fast Company came up with the list based on a number of factors, including how progressive and nimble a company’s business model is, the company’s ethos of sustainability and its culture of creativity.

Other interesting moves: Square was honored in 2014 for “designing mobile payments so simple, they’re invisible.” This year, Square fell off the list. Meanwhile, another payments company, Stripe, was honored for becoming “the go-to payments provider.”

Other Seattle-area companies mentioned — or not mentioned — include T-Mobile, which ranked No. 20 last year for being the “un-carrier.” But it doesn’t make another appearance on this year’s list. Microsoft receives at least two mentions this year: including No. 6 on both the Internet of Things and Consumer Electronics subcategories. Zulily ranks No. 5 on the retail subcategory.

In the space category, Boeing and Amazon CEO Jeff Bezos’ Blue Origin were listed at No. 3 and No. 9, respectively.

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