Colin Huang, the 40-year-old founder of ecommerce giant Pinduoduo, is currently China's third-richest person.
Huang has just stepped down as the chief executive of Pinduoduo, a gamified online marketplace connecting buyers and sellers. It's popular in China and has a market cap of more than $100 billion, giving it a higher valuation than Uber or Sony. "Later our principal called me over and convinced me to go. In retrospect, [thank] goodness that I chose to go to HFLS."
"I was too goal-oriented and wasted too much time striving to be number one in class and a good student," Huang didn't realise how lucky he was at Google until he left. "It was not until three or four years after I left Google, I started to realize how rare it was to come across and join a company like Google at the time. It was a once-in-a-lifetime opportunity and I was extremely lucky."Colin Huang, Pinduoduo founder, in 2018.At Google, Huang saw how challenging it was for foreign tech companies to compete with local Chinese businesses.
As well as subsidies on orders, Pinduoduo offers users cash rewards for playing a game that involves bringing others to the platform. His approach has drawn masses of buyers, and, in turn, sellers, who pay for advertising, which is key to the company's business model and generates more revenue than sales.
Bummer?
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