Pinduoduo IPO This Week
Pinduoduo IPO this week.
Pinduoduo IPO will be set to open on July 26th. Founded in 2015, the Shanghai-based company offers a more social e-commerce experience than BABA and JD. People on their platform are able to have group chat conversations, which will help customers to discuss about a product right on the spot.
As per the most recent information, this IPO should be worth around $1.5 billion. The offering of 85.6 million shares should be set at around $16-19. If the price holds up, Pinduoduo will be worth over $19 billion. This valuation might be too steep, as PDD posted only $278 million in revenues last year.
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There are plenty of reasons to be excited about this company. Pinduoduo’s Founder and CEO Zheng Huang was an engineer at Google. Coming from this pedigree did help PDD to become one of the fastest-growing e-commerce outlets in China, securing a partnership with the giant Tencent.