China 3-Year-Old E-Commerce Pinduoduo Files IPO in United States at $20 Billion Valuation
One of China’s fastest growing e-commerce Pinduoduo has filed for IPO on NASDAQ (United States) that could value the 3-year-old company at more than $20 billion. It is expected to announce pricing terms in the week of 23rd July 2018, raising up to $1.63 billion in the IPO.
” China 3-Year-Old E-Commerce Pinduoduo Plans IPO in United States at $20 Billion Valuation “
Pinduoduo was founded in 2015 by ex-Google engineer Colin Huang. The 3-year-old e-commerce company allows consumers to form groups to get higher discounts from sellers & merchants. In March 2018, it reported 103 million active monthly users on its mobile app, gross merchandise volume of $14.74 billion (CNY 100 billion) and revenue of $462 million for the 12 months period from April 2017 to March 2018. It is now China’s 3rd largest e-commerce company behind the 2 largest players, Alibaba and JD.com.
The key shareholders of Pinduoduo includes Tencent Holding and Sequoia Capital. The IPO is expected to make Colin Huang a billionaire with shares (50.7%) worth more than $10 billion in value if the company is listed at $20 billion market valuation.
Credit Suisse, Goldman Sachs (Asia), CICC and China Renaissance are the joint bookrunners on the deal.
Source: NASDAQ, Renaissance Capital, Reuters, Financial Times
Video:
Video:
The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals. Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.
Get The Wealth Insider Daily
- For Press Release, please contact press@thewealthinsider.com
- For Media-related enquiries, please contact media@thewealthinsider.com
- For Advertisement, please contact our official ad agency
The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals. Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.
Get The Wealth Insider Daily
- For Press Release, please contact press@thewealthinsider.com
- For Media-related enquiries, please contact media@thewealthinsider.com
- For Advertisement, please contact our official ad agency
The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals. Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.
Get The Wealth Insider Daily
- For Press Release, please contact press@thewealthinsider.com
- For Media-related enquiries, please contact media@thewealthinsider.com
- For Advertisement, please contact our official ad agency