【课程导读】

上周四，40岁的拼多多创始人黄峥宣布从董事长职位上离任。而就在同一天，拼多多刚刚宣布，买家数超过了阿里，成为中国规模最大电商。黄峥为何此时离任？辞职后会去做些什么，拼多多下一步的发展方向是什么？

【英文原文】

Colin Huang steps down as Pinduoduo chair
黄峥辞任拼多多董事长
By Ryan McMorrow

Colin Huang, the founder of highflying Chinese ecommerce group Pinduoduo, has unexpectedly quit his executive roles to explore “new, long-term opportunities”.

highflying/high-flying adj. 极为成功的
ecommerce n. 电子商务（electronic commerce）

高速成长的中国电商平台拼多多的创始人黄峥出人意料地卸下高管职位。他希望去探索一些“新的、长期机会”。

He said he was resigning as chair to make way for a new generation of leaders, and that Pinduoduo “will have its own growth journey regardless of whether I am nervous, excited, or frightened as its guardian”.

黄峥表示辞任董事长是为了给新一代的领导者腾出发展空间。他说，“作为拼多多的守护者，无论我是紧张、兴奋，还是担心恐惧，它都会按自己的成长道路发展下去”。

The announcement came as Pinduoduo overtook Alibaba by annual shopper count for the first time, with 788m people buying on its platform in the past year, compared to 779m for Alibaba.

黄峥辞职消息发布之际，拼多多以7.88亿的年活跃买家数首次超越阿里巴巴。阿里的年活跃买家数量为7.79亿。

But Pinduoduo’s rapid growth has been powered by cheap deals, and it remains heavily in the red. Revenues in the fourth quarter rose 146 per cent year on year to Rmb26.5bn ($4.1bn), while it recorded a loss of Rmb1.4bn, narrowing from Rmb1.8bn a year earlier.

in the red 负债，亏损（in debt）
in the black 有盈余
year on year 跟上一年相比

但是拼多多的快速增长是由它的低价销售推动的，且该公司仍然严重亏损。其第四季度的营收同比增长146%，达到265亿人民币（约合41亿美元）。而同时期的亏损额为14亿人民币，比上一财年第四季度的18亿有所收窄。

Pinduoduo has repeatedly returned to the capital markets for more funding, raising roughly $9bn from investors since its 2018 IPO. In December the company raised about $6bn in debt and equity financing as it focused on a plan to sell farm goods online.

equity financing 股权融资

自2018年上市以来，拼多多已多次返回资本市场进行融资，向投资者募集了约90亿美元。去年12月，该公司以债务和股权方式融资60亿美元，当时正聚焦于一项线上农产品销售计划。

Five years ago Pinduoduo started out in the farm goods business, building out some of the infrastructure to ferry fruits and vegetables to consumers, before running into problems and pivoting to the platform model it uses today.

start out 以某种方式开始
run into sth. 遇到问题或者困难

拼多多五年前开始涉足农产品业务，他们建立基础设施，将果蔬产品运送到消费端。之后遇到了问题，于是转向现在使用的平台模式。

【外刊原文】

Colin Huang steps down as Pinduoduo chair
By Ryan McMorrow
＠Financial Times

Colin Huang, the founder of highflying Chinese ecommerce group Pinduoduo, has unexpectedly quit his executive roles to explore “new, long-term opportunities”.

Huang, who steered the company to a New York IPO in 2018, said that Pinduoduo had “become a youth entering adolescence”.

Pinduoduo, valued at close to $200bn after taking a substantial share of China’s online shopping market, saw its shares fall by nearly 8 per cent in pre-market trading.

Huang said he would turn over voting rights for his 29 per cent stake to the company’s board and pledged to not sell any shares for three years. Until Wednesday, he held control of the company through his ownership of a separate class of shares with ten times the voting rights, but Pinduoduo said these would be cancelled with his resignation.

In a letter to shareholders, Huang said: “It is about the right time to explore what’s next if we want the same quality and pace of growth in 10 years. As the founder of this company, I am probably the most suitable person to take on this task by stepping out of the business and the comfort zone to embark on a journey of exploration.”

The company has appointed Chen Lei as the company’s new chair. Chen took on the title of chief executive in July and was a classmate of Huang’s at the University of Wisconsin-Madison and worked alongside him on several of his business ventures before Pinduoduo.

Aside from working for Huang, Chen’s other work experience consists of internships at Google, Yahoo, and IBM — though Google says it has no information on his time at the company. Pinduoduo did not immediately respond to a request for comment.

The announcement came as Pinduoduo overtook Alibaba by annual shopper count for the first time, with 788m people buying on its platform in the past year, compared to 779m for Alibaba.

The company spent Rmb14.7bn on sales and marketing fees during the quarter, which include the consumer subsidies, or about 55 per cent of revenue. It marks an improvement from earlier quarters when the expenses at times exceeded revenues.

The grocery field has quickly grown crowded as a slew of Chinese tech companies have pushed in to take advantage of shoppers’ new willingness to buy daily meal ingredients from their phones following the pandemic.

“Given the scale of our user base today, it’s inevitable that user growth will start to trend down. It’s much more important that we are focused on engagement,” said David Liu, vice-president of strategy, noting daily grocery shopping was one way to keep them engaged.

Liu said Pinduoduo could offer consumers groceries at a cheaper cost and was working on bringing them to doorsteps more quickly.

To do “grocery appropriately, we as a platform do need to become more heavy. It’s an operational heavier business. We are getting involved in warehousing, operations, delivery and logistics operations,” said Liu.

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E.03.24 Colin Huang steps down as Pinduoduo chair

文章目录

【课程导读】

【英文原文】

【外刊原文】

E.03.24 Colin Huang steps down as Pinduoduo chair相关推荐

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