Pinduoduo is the number one in Chinese e-commerce
For the first time, Pinduoduo has surpassed Alibaba in annual active users, highlighting the meteoric rise of the Chinese eCommerce veteran over the course of five years. The company recorded 788 million active users in 2020, but Alibaba had a big lead in monthly active users with 902 million in December. Pinduoduo's MAU of the month was 720 million. Alongside this, however, founder and chairman Colin Huang is stepping down to pursue personal interests in the life sciences. He said he is in talks with Chinese universities to set up biotechnology research labs.
This briefing is contributed by and first appeared on CIMK.
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