Pinduoduo is an absolute winner amid the 618 shopping extravagant

The social e-commerce platform Pinduoduo saw a surge of its gross merchandise volume during the mid-year shopping festival, which was a four-fold increase on last year, with a total of 1.1 billion trading orders this time. The company attributed the growth to the sales for agricultural goods and branded products. The outstanding performance has also pushed its founder, Huang Zheng, to the position of the second richest man of China by Forbes, with a net worth of $45.4 billion surpassing Alibaba’s Jack Ma’s $43.9 billion and behind Tecent’s Pony Ma’s $52.6 billion.