I. Changes of Nominal Leaders When the platform flourished, Huang Zheng, then the chairman, quit the management and handed it over to another founder, Chen Lei. The change of leaders will also affect the development thinking of enterprises according to different development strategies. This may be an important reason for the disappearance of Pinduoduo's market value under the epidemic.
In order to "retire" more thoroughly, when Huang Zheng left office, he voluntarily gave up his super voting rights and entrusted the voting rights to the board of directors. In addition, together with the founding team, he donated 2.37% of the shares, established the Star Charity Foundation, promoted social responsibility construction and scientific research, and directly "stripped" the connection with Pinduoduo.
However, we cannot simply think that Huang Zheng has lost the right to speak in Pinduoduo. In fact, Pinduoduo still has a co-founder system. According to enterprise survey data, Huang Zheng and Chen Lei are still the founders of Pinduoduo.
Second, the essence of the disappearance of market value is the change of capital. For ordinary people, the market is a merchant, a commodity and a customer. Everyone will simply buy goods and pay, so that every commodity transaction process is completed. However, in the eyes of entrepreneurs, every commodity trading activity is not just a simple commodity trading, but a capital market behavior hidden behind the transaction. This change in Pinduoduo's market value can be analyzed from the capital market.
Third, Pinduoduo's share price has fallen sharply. As can be seen from Pinduoduo's current financial report, the sales and marketing expenses of Pinduoduo, once a sales myth, have started to show negative growth. As a remarkable feature of economic development, the financial situation of an enterprise is first reflected in the company's financial share price.
According to the data of the capital market, the share price of Pinduoduo has dropped by more than 70% from the highest 2 12.597 USD to 56.03 USD today, and its market value has evaporated by more than 65.438+09.5 billion USD (about RMB 65.438+02.339 billion).
As a listed company, Pinduoduo's changes in the stock market can best reflect its position in the capital market. In the capital market, the price change per share will be reflected in the market valuation of enterprises. Conversely, the decline of the stock price in the enterprise market can obviously affect the actual development of the enterprise.
Four. Obviously, in addition to understanding the changes in the capital market through data analysis, Pinduoduo must also face the risk of market saturation. From the very beginning, downloading app by attracting people, and then obtaining more business admission fees from the company, the accumulation stage was completed, and Pinduoduo began the profit stage, in which it achieved continuous transcendence and became the largest platform in China.
However, Internet users have not expanded aimlessly. When the demographic dividend of the Internet hit the ceiling, Pinduoduo's market share began to decline. This business model, which started with attracting people to expand its influence, has become the biggest risk facing Pinduoduo at present.
Since last year, many capital markets have gradually "abandoned" Pinduoduo, especially Himalayan capital, and cleared their positions directly. It can be seen that capital has a negative attitude towards Pinduoduo.
Therefore, from the current situation, it is obvious that Pinduoduo, which was profitable at the beginning, was not ready to maintain high profit growth and could not tell a more attractive story to the outside world. If Pinduo remains "silent" at this dangerous stage, it will only gradually aggravate its own risks in silence.
Conclusion In addition to the above-mentioned economic phenomena, Pinduoduo's problems are also highlighted in the quality of goods. Many people begin to realize that although the prices of goods in Pinduoduo are low, the quality is correspondingly unacceptable, and even call for shopping without spending money rather than buying this kind of "blind box".
What the market needs is a dynamic commodity business model. What capital needs is a stock that continues to bring benefits and its share price grows steadily in the market. Pinduoduo adopted innovative "sharing" and "cutting knife" modes, which occupied a huge market share from the beginning and realized the rapid growth of enterprises in a short time. However, the commercial platform that relies solely on the mode of "spelling" will be abandoned by the market and capital first when the market is saturated.