By Hans Tung and Zara Zhang
Pinduoduo is China’s most valuable private e-commerce company that just filed for a US IPO, less than 3 years after it was founded. With over 300 million active buyers, it has risen to become one of China’s top 3 shopping apps. In this deck, we explain how Pinduoduo works and what led to its rapid growth.
Click here for a downloadable PDF version of the deck.
Watch this video for a detailed product walk-through (or click here to watch on YouTube):
Recommended Resources on PDD
- PDD’s F-1 (updated version in July 2018)
- Bloomberg’s Decrypted Podcast with Colin Huang: Son of Chinese Factory Workers Built This $1.5 Billion Startup
- Sky9 Capital’s interview with Colin Huang
- Article by WalkTheChat: Pinduoduo: a Close Look at the Fastest Growing App in China
- ChinaTechTalk Podcast: The E-commerce Platform Becoming A Threat to Alibaba with Thomas Graziani
- Caijing’s interview with Colin Huang: 对话拼多多黄峥：后流量时代，只有错位竞争才能生存
- Yicai’s video Interview with Colin Huang in Oct 2017: 黄峥：探索社交电商的未来
- Analysis by China Merchants Securities (CMS): 【招商零售|深度报告】拼多多：靠什么挑战阿里、京东的主导地位
- How PDD works with factories：揭开拼多多“爆红”的秘密：探访“拼工厂”
Hans Tung is a managing partner at GGV Capital. Zara Zhang is an investment analyst at GGV Capital.
Hans and Zara co-host the 996 Podcast, a popular English-language podcast on tech in China, where they interview movers and shakers of China’s tech industry. Subscribe on iTunes, Overcast, Spotify, SoundCloud, XimalayaFM, or wherever else you listen to podcasts.
To reach Hans and Zara directly, join the 996 listeners’ community via WeChat/Slack at 996.ggvc.com/community.
They also run a biweekly email newsletter on tech trends in China. Subscribe at 996.ggvc.com.