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Is Pinduoduo catching up to Alibaba and JD.com?
After GMV overtook JD.com, Pinduoduo's market value exceeded JD.com 's again. The total market value of Pinduoduo hit a new high since it went public, rising 15.04 percent in two trading days, and its lead expanded to $2 billion. On Oct. 25 (US Eastern time), the company closed at US $40.84, with a total market value of US $47.5 billion, while JD.com closed at US $31.16, with a total market value of US $45.5 billion. Pinduoduo also became China's fourth largest Internet listed company, after Alibaba, Tencent and Meituan. Among ecommerce companies, it is second only to Alibaba.
This is not the first time that Pinduoduo has exceeded JD.com in market value. On January 25 this year, Pinduoduo briefly exceeded JD.com 's $31.98 billion with a market capitalization of $32.01 billion. However, at that time, it was greatly affected by the scandal of Richard Liu. Since then, JD.com's stock price has fluctuated and Pinduoduo's market value has been overtaken by JD.com again, until today, Pinduoduo has turned the table again.
What did Pinduoduo do?
The first is the further growth of users. In September this year, Pinduoduo launched a "cash every day" campaign, the event page logo "people who accumulated to 100 yuan can withdraw cash to WeChat change." However, the activity needs to be constantly forwarded to WeChat friends to help unpack red envelopes, and the more they help disassemble cash, the less they get even a penny.