On the evening of November 28th, after releasing its 2023 third quarter financial report as of September 30th, Pinduoduo's market value reached around RMB 132 trillion (approximately USD 185 billion), approaching Alibaba's market value of RMB 137 trillion (approximately USD 1945 billion).
Regarding this, Alibaba founder Jack Ma responded to the rare post: "Very good. Please provide constructive opinions and suggestions, especially innovative ideas. I believe everyone at Alibaba today is watching and listening. I firmly believe that Alibaba will change, and that Alibaba will change. All great companies are born in winter. The era of AI e-commerce has just begun, and it is both an opportunity and a challenge for everyone. Congratulations to Pinduoduo on its decisions, implementation, and efforts over the past few years."
Recently, there have been rumors that Jack Ma sold a huge amount of Alibaba stocks, but Alibaba Group Partner and Chief Talent Officer Jiang Fang responded on the intranet that "Jack Ma did not sell a single share," and the timing of the stock broker's sale was a coincidence.
Pinduoduo's performance in the third quarter has nearly doubled compared to last year, with a significant increase of nearly 16.6 billion yuan in a single quarter. Compared to the 4% revenue growth rate of Alibaba Taotian Group and JD's 1.7% revenue growth rate during the same period, Pinduoduo as a whole still maintains a high growth rate of nearly three digits. If we only look at e-commerce business, Pinduoduo's revenue scale is close to 70% of that of Alibaba Taobao Tmall, and 60% of that of Taobao Tmall+Alibaba's overseas e-commerce.