Pinduoduo has a market value of $193 billion, and Alibaba has a market value of $188 billion. Pinduoduo surpassed Alibaba for the first time to become the first e-commerce stock in China, while Pinduoduo was founded in 2015 and Alibaba was founded in 1999. 30 years in Hedong, 30 years in Hexi, in the commercial market, nothing comes first, and nothing is eternal, only "change" is unchanged.
The fundamental reason is that Jack Ma planted the seeds with his own hands many years ago. Sun Tongyu, known as the father of ** and the head of the Eighteen Arhats, personally founded ** under the authorization of Ma Yun, relying on the model of surrounding the city in the countryside, and overturned the e-commerce boss eBay at that time at a cheap price.
However, within a few years, Ma Yun believed that the sinking mode of ** earth qi was no longer feasible, and made a major strategic adjustment, let Sun Tongyu go home, Daniel Zhang joined, Tmall was established, the annual fee was adjusted from 6,000 to 30,000 and 60,000, in 2012, ** was officially renamed Tmall Ali, and since then it has embarked on the fast track of abandoning the interests of small businesses to maximize their interests.
By 2015, under the stimulation of JD.com, Tmall implemented a stricter access system, and the entry standard for some categories has been raised to 5 million yuan.
Hundreds of thousands of small and medium-sized businesses can't afford to smash the pot and sell iron, at this moment, Pinduoduo was established and became the savior of hundreds of thousands of businesses, and the investor behind it is still Sun Tongyu, whose purpose is to learn from his set of rural areas surrounding the city and fully mobilize the sinking style of small businesses.
We all know the later story, Pinduoduo has grown up rapidly with its slashing viral marketing and cheap and down-to-earth play.
As early as 2018, Ali listed it as the number one competitor higher than JD.com, In 2020, in order to achieve higher growth, Tmall poured a lot of traffic into the brand, almost completely giving up merchants below the waist, once Ma Yun's slogan was to make it easy to do business in the world, and 90% of the ** merchants on the real time do not make money, these businesses that grew up in Ali soon became the main force in the middle of Pinpinduoduo.
The market is constantly moving forward in change, there is no eternal enterprise, only the enterprise of the times, this is the essence of the market.