拼多多在美提交IPO申请 拟筹资最多10亿美元
Chinese social media-based e-commerce firm Pinduoduo has filed for a US$1-billion initial public offering in the United States, joining the IPO rush of a number of Chinese unicorns such as Xiaomi and on-demand local services firm Meituan Dianping. Tencent-backed Pinduoduo, which was set up in Shanghai in 2015, allows users to participate in group buying deals with deep discounts through social networking sites, and has been quickly evolving to challenge the dominant position of market leaders Alibaba and JD. The company's revenue, which comes from merchants' advertising and transaction commission, increased by 37 fold in the first quarter this year from the year-earlier period to 1.38 billion yuan (US$219 million), according to its prospectus filed to the Securities and Exchange Commission last Saturday. Its gross merchandise value, the total amount of goods sold, reached 66.2 billion yuan in the three months ended March this year, nearly half of its full-year GMV of 141.2 billion yuan from 2017. The Shanghai-headquartered Pinduoduo didn't specify its share pricing or its intended listing time. Its team purchase model, in which friends and family members invite more potential buyers so the team purchase price becomes even lower, has been an effective solution to aggregate consumer demand and link them with merchants and manufacturers. Founder and CEO Huang Zheng said in a letter to shareholders that it seeks to evolve its "team purchase" formats in the future for different user scenarios. |