Jingdong was spelled out again. On October 24, pinduoduo soared by 12.56%, closing at $39.96, with a total market value of $46.448 billion. It exceeded JD's $44.816 billion and became China's fourth largest Internet company, second only to Alibaba, Tencent and meituan. This is the second time pinduoduo has surpassed JD since January.
According to the second quarter financial report of pinduoduo, the number of active buyers, Gmv (total turnover) and revenue of pinduoduo increased significantly, and the annualized Gmv increased by 170.5% year-on-year to 709.1 billion yuan; Annualized active buyers increased by 40.6% year-on-year to 483 million. Gmv per capita increased from 1257 yuan in 2019q1 to 1468 yuan in 2019q2. From the growth of the number of active buyers in the year, pinduoduo added 39.9 million in the second quarter, far exceeding Jingdong's 10.8 million.
Huang Zheng, founder and CEO of pinduoduo, said publicly in October that pinduoduo's real payment Gmv has exceeded JD. At the previous staff meeting before pinduoduo's listing in 2018, Huang Zheng said that he would surpass JD on Gmv in the next three years. Now it seems that it has been two years earlier than expected.
In contrast, JD's share price has been flat, closing down slightly by 0.13% on October 14, with a market value of $44.8 billion.