Pinduoduo's annual revenue 2016-2019

Founded in 2015, the Chinese social e-commerce platform Pinduoduo generated a revenue of more than 30 billion yuan in 2019, increasing by almost 60 times in the past four years. The miraculous rise allowed its founder Huang Zheng to become the 7th wealthiest person in China.

Pinduoduo and small-town youth in China

While the e-commerce market has been nearly saturated in China’s first and second-tier cities, small towns and cities showed their potential as a fast-growing and alluring market for those online retailers. The “sinking market” and “small-town youth” became inevitable topics for every digital marketer. “Whoever gains the small-town youth, gains the market” was the new guideline for almost all e-commerce players to set their marketing strategies. The online discounter Pinduoduo appeared as a dark horse in the competition. The majority of its nearly half a billion users were from the third-tier cities or below, and these users were more sensitive about price.

Scandals regarding counterfeit goods

Pinduoduo went viral among small-town residents for its hard-to-believe price and many cashback actions. From high-tech products like the newest iPhone to daily necessities like toilet paper, Pinduoduo offers lower prices compared to Alibaba and JD.com. Most of the young buyers spent less than 100 yuan a month on Pinduoduo, lower than the average monthly online shopping expenditure in China. However, cheap doesn’t always mean good. In 2018, the prevalence of counterfeits on the platform brought Pinduoduo to the center of unwanted attention. In that year, Pinduoduo was investigated by the Chinese market regulators for selling fake goods, and in early 2019, it was blacklisted by the U.S. government for its violation of intellectual property rights.

Annual revenue of Pinduoduo Inc. from 2016 to 2019

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Source

Release date

April 2020

Region

China

Survey time period

2016 to 2019

Special properties

fiscal year ending December 31

Supplementary notes

Note: 1 yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of June 2020).
Values have been rounded.

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