The pair’s company has become significantly more valuable because of its hugely successful vaccine sales.
(Photo: imago images / Political-Moments)
Hamburg Pinduoduo is not one of the well-known tech companies in Europe – despite being listed on the Nasdaq. There are two reasons for this: On the one hand, the Chinese are only active in their huge home market. And on the other hand, their business model has little to do with the ideas of western internet companies.
Pinduoduo enables farmers in the countryside to offer their products in the cities. In addition, Pinduoduo acts as a kind of shopping club for group discounts. The most tangible is the designation as an Alibaba competitor, because at least the large marketplace is also a household name outside of China. It might be worthwhile to keep the name Pinduoduo in mind. According to a recent study by the BCG consultancy, the Shanghai company has succeeded better than any other young tech company in the world in increasing its corporate value on an annual average since it was founded.
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