TechNode reported that the market cap of Pinduoduo surpassed NetEase.
Shares of Chinese newly listed e-commerce platform Pinduoduo have jumped more than 40 percent in the last three days. The market value of the company reached $33.2 billion, more than that of NetEase. The net worth of Huang Zheng, founder and CEO of the company, jumped to $15.5 billion, surpassing that of Xiaomi’s CEO Lei Jun and NetEase CEO Ding Lei.
Pinduoduo is the fastest growing company in terms of revenue. The company also is also growing its active users rapidly. It gained 100 million monthly active users within less than month early this year.