Pinduoduo

whatshot 47 snips

Jul 16, 2020

Discover the meteoric rise of a Chinese e-commerce titan that blends Costco and Disneyland into a unique shopping experience. Uncover how it disrupted giants like Alibaba and JD.com by connecting rural farmers directly to consumers. Learn about its innovative group-buying strategies, enhanced by WeChat integration, which have transformed social commerce in China. The dynamic interplay of AI and evolving market trends reveals valuable lessons for high-growth companies everywhere.

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ANECDOTE

Colin Huang's Early Life

Colin Huang, Pinduoduo's founder, had humble beginnings with factory worker parents.
Despite initial disinterest in language, he attended a top prep school, boosting his trajectory.

question_answer

ANECDOTE

Mentorship and Google

Unlike Jack Ma, Huang prioritized coding over English, yet found success in America through internships and mentors.
Notable mentors included William Ding and Duan Yongping, connecting him to Google.

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ANECDOTE

Lunch with Buffett

In 2006, Duan Yongping won a lunch with Warren Buffett and brought Huang along.
This reflects Huang's early connections with influential figures like Bill Gates and Warren Buffett.

Get the Snipd Podcast app to discover more snips from this episode

The Rise of Pinduoduo in Chinese E-Commerce

01:42 • 2min

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AI, E-Commerce, and Listener Engagement

03:51 • 6min

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Navigating China's Tech Revolution

09:56 • 14min

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Innovative Disruption in Agriculture: The Rise of Pinduoduo

23:27 • 18min

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China's Social Commerce Advantage

40:58 • 11min

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Pinduoduo's Disruptive E-commerce Model

51:45 • 16min

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Financial Dynamics of Pinduoduo's Growth

01:07:26 • 14min

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User Growth vs Revenue: The Pinduoduo vs JD Debate

01:21:38 • 4min

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Tencent's Strategic Investments and Market Dynamics

01:25:31 • 11min

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The Rise of Pinduoduo and Statsig

01:36:56 • 5min

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Analyzing IPO Investment Returns and Insider Confidence

01:41:27 • 2min

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E-Commerce Showdown: Pinduoduo's Rise

01:43:21 • 7min

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The Magic of Creative Processes in Startups and Animation

01:50:22 • 3min

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How to make a spaceship

Julian Guthrie

This book chronicles the story of Peter Diamandis and the X Prize Foundation, focusing on the Ansari X Prize competition and the winning team led by Paul Allen and Burt Rutan. It explores the challenges and triumphs of private space exploration, culminating in Virgin Galactic's acquisition of the winning technology. The book includes a preface by Richard Branson and an afterword by Stephen Hawking.

Creativity, Inc.

Overcoming the Unseen Forces That Stand in the Way of True Inspiration

Amy Wallace

Ed Catmull

Ed Catmull and Edwin E. Catmull and Amy Wallace

In this book, Ed Catmull shares insights on how to build and maintain a creative culture within an organization. Drawing from his experiences at Pixar, Catmull discusses the importance of open communication, risk-taking, and protecting the creative process. The book includes candid discussions, anecdotes about Pixar's film development, and lessons on managing innovation and creativity. It emphasizes the need for a nurturing work environment and the importance of storytelling in business.

We kick off Season 7 with a bang: Pinduoduo, the incredible five year-old Chinese mashup of "Costco and Disneyland" (as self-described in their IPO prospectus) which recently became the fastest company ever to pass $100B market capitalization. What makes PDD so special, and how were they able to enter a market that everyone considered "already won" and disrupt massive entrenched competitors Alibaba and JD.com? This story is chock-full of lessons that apply not only to China tech, but to high-growth company building and investing everywhere.

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Links:

Photo of 26 year-old Colin at lunch with Warren Buffett: https://thelowdown.momentum.asia/cv-of-pinduoduos-founder/
PDD users on mini-programs vs other Chinese e-commerce players: https://miro.medium.com/max/1080/0*39fpSP_JqhDaPhQ2.png

Carve Outs

How to Make a Spaceship https://www.amazon.com/How-Make-Spaceship-Renegades-Spaceflight/dp/1594206724
Creativity, Inc. https://www.amazon.com/Creativity-Inc-Overcoming-Unseen-Inspiration/dp/0812993012/

Sources:

http://investor.pinduoduo.com/static-files/468b2c9f-9112-410d-84b3-2b22e07c7ee0
http://investor.pinduoduo.com/static-files/5539839d-0a1c-4d40-9bb7-bdb490e2370c
https://analyse.asia/2018/08/09/episode-260-pinduoduo-their-upcoming-ipo-in-china-with-matthew-brennan/
https://analyse.asia/2020/06/28/pinduoduo-on-social-ecommerce-agriculture-with-xinyi-lim/
https://blog.ycombinator.com/pinduoduo-and-the-rise-of-social-e-commerce
https://en.wikipedia.org/wiki/Pinduoduo#cite_note-8
https://hans.vc/pinduoduo/
https://medium.com/@clarkboyd/pinduoduo-everything-you-need-to-know-about-pdd-chinas-third-biggest-ecommerce-site-38ac42086e47
https://overcast.fm/+HWy7CWz34
https://overcast.fm/+I8dmHF4NU
https://overcast.fm/+PLdRNCiCg
https://overcast.fm/+TmYdC1VPQ
https://overcast.fm/+TmYfSO3sc
https://targetchina.com.au/article/how-pinduoduo-successfully-gained-market-share-through-social-commerce/
https://techcrunch.com/2018/07/26/the-incredible-rise-of-pinduoduo/
https://technode.com/2020/05/12/pinduoduo-growth-story-needs-a-new-chapter/
https://trendslates.substack.com/p/amazons-335bn-in-gmv-amazon-testing
https://twitter.com/bgurley/status/1255172025053663232
https://www.businessinsider.com/fabulous-life-colin-huang-pinduoduo-2020-7
https://www.cnbc.com/2020/04/22/what-is-pinduoduo-chinese-ecommerce-rival-to-alibaba.html
https://www.fool.com/investing/2020/07/02/why-pinduoduo-stock-popped-today.aspx
https://www.fool.com/investing/2020/07/07/4-tough-tasks-for-pinduoduos-new-ceo.aspx
https://www.forbes.com/real-time-billionaires/#721870433d78
https://www.scmp.com/tech/e-commerce/article/3081078/pinduoduo-doubles-down-rural-china-five-year-us71-billion-e
https://www.sec.gov/Archives/edgar/data/1737806/000104746918005204/a2236308z424b4.htm
https://www.sec.gov/ix?doc=/Archives/edgar/data/1737806/000110465920051022/pdd-20191231x20f.htm
https://www.techbuzzchina.com/episodes/ep-17-pinduoduo-from-zero-to-23b-in-three-years
https://www.theinformation.com/articles/chinas-pinduoduo-is-nipping-at-alibabas-heels
https://www.youtube.com/watch?v=BidaQ22vWvM
https://www.youtube.com/watch?v=SqxtfOMMVFg
https://www.youtube.com/watch?v=UjLhCK8sUcw
https://www.youtube.com/watch?v=Zbskb0KMBUU&t=4s

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