On November 29th, Alibaba founder Jack Ma spoke out on the Alibaba intranet under the name "Partner Jack Ma", responding to questions from Alibaba employees regarding the difference in market value between Pinduoduo and Alibaba, as well as operational suggestions.
Jack Ma said, "I firmly believe that Alibaba will change, 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 PDD for their decision-making, execution, and efforts in the past few years."
On the evening of the 28th, Pinduoduo released its financial report for the third quarter of 2023 as of September 30th. The company's revenue for the quarter was 68.84 billion yuan, a year-on-year increase of 93.9%. After the financial report was released, Pinduoduo's US stock market surged by 18%, with a market value exceeding $185 billion at one point, while Alibaba's market value during the same period was about $1940, with a difference of less than $10 billion between the two.
On the late night of November 17th, Jack Ma's office lawyer also made it clear that the previously disclosed sale plan was a long-term plan. Jack Ma firmly believes in Alibaba, as its current stock price is far below its actual value, and he will still firmly hold onto Alibaba's stock.