JSFiddle - React, Tailwind, and code Playground

HTML

<input list="company" type="text" placeholder="Select a company..." data-bind="value: val, datalist: {
    options: companies, 
    optionsValue: 'id',  /* try removing 'optionsValue' and see what happens to the view model */
    optionsText: 'name', 
    value: selectedCompany
}" />
<span class="hint">(note the "change" event occurs after the field loses focus!)</span>

<hr />
<p>View Model:</p>
<pre data-bind="text: ko.toJSON($root, null, 2)"></pre>

CSS

.hint {
    color: silver;
    font-size: 80%;
}

JavaScript

ko.bindingHandlers.datalist = (function () {
    function getVal(rawItem, prop) {
        var item = ko.unwrap(rawItem);
        return item && prop ? ko.unwrap(item[prop]) : item;
    }

    function findItem(options, prop, ref) {
        return ko.utils.arrayFirst(options, function (item) {
            return ref === getVal(item, prop);
        });
    }
    return {
        init: function (element, valueAccessor, allBindingsAccessor) {
            var setup = valueAccessor(),
                textProperty = ko.unwrap(setup.optionsText),
                valueProperty = ko.unwrap(setup.optionsValue),
                dataItems = ko.unwrap(setup.options),
                myValue = setup.value,
                koValue = allBindingsAccessor().value,
                datalist = document.createElement("DATALIST");

            // create an associated <datalist> element
            datalist.id = element.getAttribute("list");
            document.body.appendChild(datalist);

            // when the value is changed, write to the associated myValue observable
            function onNewValue(newVal) {
                var dataItems = ko.unwrap(setup.options),
                    selectedItem = findItem(dataItems, textProperty, newVal),
                    newValue = selectedItem ? getVal(selectedItem, valueProperty) : void 0;

                if (ko.isWriteableObservable(myValue)) {
                    myValue(newValue);
                }
            }

            // listen for value changes
            // - either via KO's value binding (preferred) or the change event
            if (ko.isSubscribable(koValue)) {
                koValue.subscribe(onNewValue);
            } else {
                ko.utils.registerEventHandler(element, "change", function () {
                    onNewValue(this.value);
                });
            }

            // init the element's value
            // - either via the myValue observable (preferred) or KO's value binding
            if...