How Pinduoduo CEO Colin Huang became one of the richest people in China


Colin Huang YouTube/Sky9 Capital

Colin Huang is the founder and CEO of Pinduoduo, a shopping app used by as many as 5 million people in China every day. When Huang’s company went public in late July at $24 a share, it was valued at just under $24 billion, making Huang the 12th-richest person in China.

All of this took him less than three and half years.

While it may seem as though Huang’s success occurred overnight, one early investor in Huang’s company, Ron Cao of the Shanghai-based venture firm Sky9 Capital, says Huang’s foundation as an entrepreneur was decades in the making. Cao said his firm was extremely impressed with Huang’s entrepreneurial qualities, leading it to invest in Pinduoduo’s Series B round along with Sequoia, Lightspeed, and Tencent.

Here’s what Huang knows that most entrepreneurs might not, according to Cao:



Source link Businessinsider.com

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