Figuring Outย โขย 8m
How PinDuoDuo became China's ECommerce Giant? What if shopping could be cheaper and more fun by buying in Group? Thatโs something Colin Huang wanted to build.. Thus he decided to start Pinduoduo, an Ecom site where you get better deals if you shop together! So, hereโs how it works: 1) You find a product you like. 2) You either buy it solo (at a higher price) or start a group to unlock huge discounts. 3) You share the link with friends or family, and once the group fills up (usually 2-5 people), the deal is unlocked. Itโs basically ecom and social networking togeather (kinda) โand the results have been insane! 2015: It was Launched! 2017: Achieved $15 billion GMV! 2018: Listed on NASDAQ at $33 Bln Valuation! And By 2021, it surpassed Alibaba in annual active buyers. This has been possible due to their lower costs, group buying experience, and gamification. Today, Pinduoduo makes over $32 Billion sales, have 637 million active monthly buyers making it a worthy rival to Amazon and Alibaba. Also, It's parent company owns Temu, one of the leading ecom platform in the West! Would you use a platform like this?
Hey I am on Medialย โขย 8m
This factory worker's son became China's richest person with over $48 billion. Meet Colin Huang, the founder of Temu. Colin was born in 1980 to factory workers on the outskirts of Hangzhou. He won a mathematics Olympiad competition, which got h
See MoreSoftware Developerย โขย 6m
I just had an idea which is like multi store marketplace where store owners (dress shop owners,Shoes sellers) can publish their store and start selling their products as of now store owners can receive orders through WhatsApp and instead of selling
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Medialย โขย 10m
Alibaba: Overcoming Rejection to Build a Giant Jack Ma, a former English teacher, founded Alibaba in 1999 to help small businesses in China connect with global markets. Despite facing rejections from investors, Ma persisted, focusing on e-commerce,
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