Chinese e-commerce startup reaches $30 bn valuation in 3 yrs
Chinese e-commerce startup Pinduodo (PDD), founded by former Google employee Colin Huang, has reached a valuation of approximately $30 billion within 3 years of launch. Pinduodo became a $30-billion-dollar startup after raising $1.63 billion this week in the fourth-largest US initial public offering (IPO) this year. It was led by Credit Suisse, Goldman Sachs, and China International Capital.