Pinduoduo is a Chinese-based e-commerce company that is said to have a direct competitor in the Chinese e-commerce giant, Alibaba, and also one of the tech companies that went public on July 26th, 2018, alongside Cango (CANG), Tenable (TENB), and Endava (DAVA).
Although all these companies are operating in different sectors and industry, making their IPOs incomparable in a way, Pinduoduo had the highest estimated value for their IPO, setting the estimates at 24 billion dollars.
The company opened the first trading session at the price of 19$, raising 1.63 billion dollars with the initial public offer, while PDD shares are still traded above the opening price of 19$, set at the value of 21.60$ at the beginning of Q2 of 2019.
Pinduoduo (PDD) Shares: Profits and Market Analysis for PDD Shares – Should You Go Long on Pinduoduo Shares?
On March 13th, Pinduoduo released official reports for the fiscal year of 2018 as well as their report for the last quarter of 2018, stating that the company has recorded 68.6 billion dollars GMV for the 12-month period.
Additionally, Pinduoduo shared reports on total revenues for the year as well, set at 822.3 million dollars in the period of 12 months from December 31st 2017 to the same period of 2018, compared to the total revenue generated in 2017.
That is how the company reported 379% in 2018 when it comes to total revenues. The company behind PDD shares also announced an important increase in the number of monthly active users, stating that Pinduoduo recorded 272.6 million monthly active users in 2018 at an increase of 93% from 141 million users recorded in 2017.
Increases for 2018 were also noted in the number of active buyers, reporting an increase of 71%, with having 418.5 million active buyers.
Pinduoduo appears to have had a strong finish in 2018 with great odds of having another great year in 2019.