Pinduoduo

Pinduoduo
Public
Traded as NASDAQ: PDD
Industry Internet
Headquarters Shanghai, China
Key people
 Colin Huang (founder)
Products E-commerce
Website www.pinduoduo.com

Pinduoduo (Chinese: 拼多多) is an e-commerce platform allowing users to participate in group buying deals. It was founded by Colin Huang as Shanghai Dream Information Technology Co., Ltd. in September 2015.

History

  • In September 2015, the company was be founded.
  • In July 2016, Tencent, Gaochun and Xintianyu invested more than US$110 million in the B round.
  • In 2018, the number of users has exceeded 200 million, GMV has exceeded 100 billion yuan, and the daily order volume ranks second in mainland China only after Taobao.[1]
  • On July 26, 2018, the company was listed on the NASDAQ stock market in the United States. It is trading under the ticker symbol PDD. The IPO price was $19.[2] It raised US$1.6 billion, making it one of the largest IPOs of 2018.[3]

Controversy

  • On June 7, 2018, China Legal Evening News reported that "there are many illegal and violent goods involved in the law," and you can buy cheap goods, and there are many commodities that involve pornography, violence, and illegal activities. Including the blade knife, pseudo base station device, motorcycle license plate and inflatable doll, etc.[4]

Reference

  1. ↑ Is it a lot of anti-supermarket value to evaporate in the past two months?
  2. ↑ "拼多多IPO最终定价19美元 将于今晚正式上市". QQ. Retrieved 2018-09-20.
  3. ↑ "The incredible rise of Pinduoduo, China's newest force in e-commerce". TechCrunch. Retrieved 2018-09-20.
  4. ↑ "拼多多为什么回应？关闭涉事店铺 下架违规商品". Sohu. 2018-06-07. Retrieved 2018-09-20.

Official website

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