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Pinduoduo Inc. (Chinese: 拼多多; Pinyin: Pīn duōduō) is the largest interactive e-commerce platform in China and in the world. It is the second-largest online marketplace in China by number of users and number of orders. It is also one of the world’s largest internet companies. It has pioneered several new trends including social e-commerce, team purchase and consumer-to-manufacturer (C2M) that have revolutionized online shopping in China. Pinduoduo ranks just behind Alibaba Group with close to 600 million users and recorded 1 trillion yuan in GMV in under five years. Getting to the same scale took Alibaba 10 years to achieve. It has been said that “to understand the success of Pinduoduo is to understand the future of global e-commerce.”
As of Dec 31, 2019, Pinduoduo has generated over RMB 1 trillion gross merchandise value (GMV), 585.2 million active buyers in the last twelve months, 481.5 million average monthly active users in the 4th quarter of 2019, and an average daily order of 54 million parcels in 2019.
When Pinduoduo started Pinduoduo (“PDD”) in 2015, Pinduoduo envisioned a platform that could leverage technology to place users’ ever-changing needs first through interactions and connections among them. Pinduoduo hoped that this open platform could provide equal opportunities and empower all for a better life. Therefore, Pinduoduo created a 100% interactive mobile Internet platform and provided e-commerce services to enable users to discover interesting and value-for-money products. Unlike the conventional search model used by existing global peers, PDD engages its users through a personalized recommendation model. In July 2018, PDD was listed on Nasdaq (Nasdaq: PDD) to pave the way to becoming a global and institutional technology platform. At PDD, user satisfaction is the most important KPI of Pinduoduo employees. “I hope Pinduoduo team wakes up feeling anxious every day, never because of share price volatilities, but because of their constant fear of users departing if Pinduoduo are unable to anticipate and meet users’ changing needs”, said the founder and CEO of Pinduoduo, Colin Zheng Huang. As of March 31, 2020, PDD’s last-twelve-month Gross Merchandise Value (GMV) is US$163.4 billion, connecting 628.1 million annual active buyers and more than 5.1 million merchants.