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Pdd, Pinduoduo

Pinduoduo Founder Passes Alibaba’s Jack Ma As China’s Second-Richest Man

China's top three richest entrepreneurs all hail from the Internet industry.

6/22/2020 4:32:00 PM

Shanghai e-commerce billionaire Colin Huang has passed Jack Ma , the main founder of China’s Internet heavyweight Alibaba Group, as China’s second-richest man

China's top three richest entrepreneurs all hail from the Internet industry.

Pinduoduo, founded in 2015, has in its short life become one of China’s largest online retail business, boasting a market capitalization of $104 billion. Successful investors in the company include Tencent, Sequoia China and Gaorong Capital (formally known as Banyan Capital); board members include Sequoia China’s founding partner Neil Shen, who ranked No. 1 on the 2020 Forbes Midas List announced in April and is a billionaire himself.  Pinduoduo’s stock performance also helped Gaorong co-founders Zhang Zhen and Gao Xiang to make this year’s Midas List.   

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Before setting up Pinduoduo, Huang founded Xinyoudi Studio to develop and operate online games and Ouku.com, a company that operated an online platform for consumer electronics and home appliances, according to a biography in a Pinduoduo stock filing this year. Huang started his career at Google’s U.S. headquarters in 2004, and subsequently relocated to China as part of the team that established Google China.  

Huang was trained as a data scientist and has presented his work at international conferences such as the ACM SIGMOD Conference and International Conference on Machine Learning, the filing says. Huang holds a bachelor’s degree in computer science from Zhejiang University and a master’s degree in computer science from the University of Wisconsin-Madison. headtopics.com

For all its market-capitalization heft, Pinduoduo has been a money-losing business. It lost $582 million in the first-quarter versus $924 million in revenue. Read more: Forbes »

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Who’s first? But he is still a slave of CCPChina .. China became rich after stealing technology from USA UK Europe and Russia But is still a closed monarchy. . COVID19 is the example how china used for expansionist policies. . Wowwwww Why’s the pic of Jack and not Colin? When did Jack Ma reach the second place? Is his Alibaba not doing well?

All controlled by China’s Regime leaders. Richest guy is the one controlling China’s military. Currently Xi. All are political propaganda puppets of China’s Regime. These puppets are used for relationships infiltration & manipulation of western Corps. But he’s still owned by his government, and subject to all their laws. If the government wants him gone, he’s gone. No reason given. He just disappears one day from public view. His company still continues to make money, but it’s not his or his families.

Wow! Who is first? 😻 Kya Baat ✌️

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