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As Pinduoduo employees in Shanghai and New York celebrated the Nasdaq listing last week, a crowd of online commentators sharpened their knives.
The course of action soared It began just three years ago and saw the platform of "social e – commerce" sharing bargains worrying the dominant forces of "the world". Alibaba and Jingdong. But for some, the Pinduoduo listing in the United States was an embarrbadment, and undone years of hard work aimed at transcending the image of China as the world's capital.
All you need to know about Pinduoduo's ascent:
How a low-cost upstart took Alibaba and JD to become the fastest-growing electronic commerce platform of China
In a widely circulated WeChat article, Dawei Weng accused the company of "overturning 20 years of history" through its alleged proliferation of counterfeits and knock-out products. off. Screen shots were launched on Weibo with all kinds of dubious products found on Pinduoduo and the users dropped on themselves to say how embarrbaded they are to see the company being seen as representative of the China
Pinduoduo
As a commentator ironically noted in reference to China recycling much of the waste of the western world until recently: "China has finally found a way for the United States to" 39; import its waste with the inscription of Pinduoduo ". a more visual representation:
A GIF doing rounds on Chinese social media showing a razor "bought on Pinduoduo"
At one point – in a brilliantly meta-knock-off move – it even seemed that 39 a fake Pinduoduo application had appeared on the Apple App Store:
On Sunday night, Wang Xing – honorary chief at Meituan and a recent entrant on the 40 Under 40 list of Fortune – offered a defense of He claims that "all those people criticizing Pinduoduo and not criticizing Alibaba (from where it left) show how much our society is forgetful."
But on Monday, Pinduoduo's problems continued a string of announcements that they broke their IP rights and accusing the platform of hosting counterfeit versions of their games.
Skyworth's Notice to Pinduoduo
The stock price jumped 44% on its market debut last week. Zheng Huang a millionaire. Yet even with a loyal fan base, Pinduoduo's public relations problems may have ended any party.
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