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Pinduoduo

From EverybodyWiki Bios & Wiki



Pinduoduo is an e-commerce platform allowing users to participate in group buying deals, mostly through Tencent’s Wechat app. It was founded by Colin Huang,Shanghai Dream Information Technology Co., Ltd. in September 2015,the legal representative is Sun Wei and the registration time is: 2014-01-09.

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 in the United States. The IPO price was $19.[2]

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. [3]
  • On June 13, 2018, several merchants were fighting for the collective crusade of the Shanghai headquarters building. The on-site business uniforms were wearing the tops of “too much, illegally freeze the merchant's funds, and I was hard-earned and deceived consumers”. The mood was fierce. The two sides had physical conflicts and the scene was extremely chaotic.[4]

Reference

pinduoduo


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