108 billion, top 3 in the same industry, in addition to Amazon , Alibaba , Pinduoduo has ranked third, surpassing JD.com, its capabilities cannot be underestimated. However, , Huang Zheng, , the founder of "Chop", chose to retire after taking three years to launch it. , while and Pinduoduo, still rely on brutal growth methods to expand. This has also made many netizens speculate, how long can Pinduoduo survive by relying on the low-price route?
1. Founder Huang Zheng
Huang Zheng was born in Hangzhou, Zhejiang in 1980. Huang Zheng’s grades have been among the best since he was a child, and he has shown great interest in mathematics. When he was eighteen years old, he was recommended to study computer science at Zhejiang University's Zhu Kezhen College. After graduating from his undergraduate degree, Huang Zheng's computer proficiency had already made some achievements.
In 2004, Huang Zheng joined Google after getting a master's degree in and in the United States. Unexpectedly, half a year after joining, Google would successfully go public. As an early engineer, Huang Zheng not only received options, but was also fortunate to participate in the preparation of Google China. After working at Google for three years, Huang Zheng not only achieved financial freedom, but also learned the management and operations of top technology companies.
After Huang Zheng left Google, he successively founded Ouku.com , Leqi , Xunmeng and other companies. Later, relying on the wealth and experience accumulated over the years, he embarked on a new e-commerce model in 2015, which suddenly emerged, and Pinduoduo was born. In the following three years, Pinduoduo successfully attracted low-income people in cities below the third, fourth and fifth tiers with its low price advantage, becoming the third largest e-commerce platform software after JD.com and Taobao.
In 2018, Pinduoduo went public, and its market value once exceeded US$30 billion. Huang Zheng’s net worth also instantly increased by tens of billions. In February 2021, Pinduoduo's stock price ushered in an unprecedented moment of glory, with its total market value exceeding US$260 billion.
2. Pinduoduo’s market value exceeds that of JD.com
Judging from the latest data, Pinduoduo’s stock price has been ups and downs this year. It fell from more than 200 US dollars to more than 50 US dollars, and now it has soared to more than 80 US dollars, which makes people feel ups and downs. In fact, not only did Pinduoduo surge in the third quarter of this year, but , Alibaba, and JD.com also experienced surges in the short term.
But the current final price is actually that Pinduoduo far surpasses JD.com by more than 20 billion, ranking third. It has grown from an e-commerce platform that is considered "low and non-mainstream" to where it is now. Pinduoduo's previous rough and crazy circle of people model has played an irreplaceable role. But after Huang Zheng retired, Pinduoduo's total market value dropped from its peak of US$260 billion to about US$70.7 billion, a loss of about 1.3 trillion yuan. The huge gap between
and
also seems to indicate that the negative consequences of Pinduoduo’s one-shot marketing model are now backfired on Pinduoduo. The era of brutal and upward seems to be coming to an end. Huang Zheng founded Pinduoduo at the age of 35, and retired at the age of 41. The remaining Pinduoduo is just a reminder in the torrent of the times: the extremes of things must reverse, and the moon's gain will lead to loss.
Faced with the crazy growth of Pinduoduo Liu Qiangdong also expressed his opinion. He believes that JD.com and Pinduoduo are not the most suitable competitors. No matter how fresh Pinduoduo’s e-commerce model is, the final essence must return to user experience. And his views also represent the thoughts of many e-commerce giants in the industry. They all believe that Pinduoduo is a platform that plays with models and does not have the quality and high-end that users ultimately demand. In the end, after the novelty is consumed, it will be washed away by the times.
Summary:
Pinduoduo has become famous for its low prices and "one-stop shopping". Although the preferential prices have brought it the number of users that Taobao and JD.com have only accumulated in more than ten years. But quality and user experience are important reasons for the platform to continue. What do you think about this?
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