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Pinduoduo app was dropped by Apple App Store! Back details of pinduoduo's emergency off the shelf

On November 27, according to the reporter, pinduoduo app cannot be displayed in the app store at present, and pinduoduo buyer's version has been removed from the app store. How does pinduoduo app get off the shelf? Let's take a look at the details behind pinduoduo's emergency dismounting.

Subsequently, Zhitong financial app called the customer service number of pinduoduo mall official website to get information from pinduoduo official. When asked about pinduoduo's customer service personnel, the customer service personnel first did not understand the situation of "pinduoduo IOS platform buyer version" off the shelf, indicating that "IOS platform is normal".

In the second inquiry of Zhitong financial app, pinduoduo customer service staff confirmed that pinduoduo app on her apple phone is normal.

But when asked again by Zhitong financial app, pinduoduo's customer service staff said after the second confirmation, 'I'm sorry, I suggest you contact Apple's official, our technical staff has been checking, I suggest you pay more attention later, thank you for your understanding and support'.

When Zhitong financial app asked when the buyer's version of pinduoduo could be restored to download, the official customer service staff of pinduoduo didn't give a specific time, just stressed 'pay attention later'.

However, the official response of pinduoduo later said that it was the technical bug that led to the short-term off the shelf, and it will be put on the shelf as soon as possible after the emergency repair.

As a matter of fact, pinduoduo has not been happy recently. Before this off the shelf event, many insiders said that the phenomenon of PDD. US downloading the list is very serious.

Coincidentally, as early as November 14, blue orca, a short selling agency, also raised questions about its data, such as pinduoduo's Gmv data.

Blue Orca believes that the Gmv of pinduoduo report includes billions of such orders, either the group purchase fails, or it only stays in the shopping cart. Blue Orca believes that the Gmv data reported by pinduoduo is highly misleading, which is not comparable with the Gmv reported by its e-commerce peers. This unique structure also explains that there is a substantial difference between the Gmv of pinduoduo report and the actual Gmv implied by its disclosure of payment fees and revenues.

The disclosed payment fee implies that Gmv is 43% lower than that in the report. A lot of them said on their official website that they did not receive commissions for transactions, but admitted that they represented third party payment platforms, WeChat payments and Alipay's 0.6% transaction fees. Pinduoduo announced the payment fees of 541 million yuan and 164 million yuan in the first quarter of 2017 and 2018, respectively.

If each transaction in pinduoduo's e-commerce platform generates 0.6% of the transaction cost, then logically speaking, the cost should be 0.6% of the Gmv reported by pinduoduo. However, based on the transaction fee disclosed by pinduoduo, the actual Gmv of pinduoduo in 2017 and the first quarter of 2018 should be RMB 117 billion, which is 43% less than the reported total Gmv of 207 billion in the five quarters.

The disclosed commission fee corresponds to 43% less Gmv than reported. Pinduoduo also disclosed revenue from the payment of service fees, which the company claims is 0.6% of the value of goods sold. This revenue should be close to the cost of the expense process, except for accounts returned after payment or cancelled by transaction.

Based on the disclosed commission fee income, the corresponding Gmv shall include all paid orders on pinduoduo platform, regardless of whether the order is delivered or cancelled. As of June 18, 2018, pinduoduo announced that its commission income was RMB 1.1 billion, and the actual Gmv (including returned) during that period was only RMB 191 billion, 34% less than the figure reported to investors. This is another data support that suggests pinduoduo simply exaggerates its Gmv.