Where does the fortune of Colin Zheng Huang come from?
Colin Huang is a Chinese billionaire businessman. He is the founder and CEO of e-commerce company Pinduoduo, which went on to become a leading grocery marketplace in China. After finishing and internship at Microsoft and his career at Google, Colin Huang founded an e-commerce site “Ouku” in 2007, which he sold for $2.2 million in 2010. Before founding Pinduoduo in 2015, Colin Huang also founded Xinyoudi, company that focused on making online games. Pinduoduo became the largest agriculture-focused technology platform in China. It connects farmers and distributors with consumers directly through its interactive shopping experience. Its rapid growth and success secured Colin Huang the 4th place of the richest people in China, with an estimated net worth of $47.9 billion.
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How did Huang’s company Pinduoduo develop?
At the age of 18, Colin began studying with his bachelor’s studies in computer science in Zhejiang. He finished his master’s degree at the University of Wisconsin in 2004 after completing internships at Microsoft and Google. After working at Google and founding different businesses before, Colin Huang established Pinduoduo in 2015. The firm developed a platform that directly connects farmers and distributors with consumers. In 2017, the company ended its online direct sales model of acquiring fresh produce and other perishables from suppliers to sell to consumers and transitioned to purely providing online marketplace services to third-party merchants across more categories. In 2018, the company held its IPO. At the end of 2020, Duo Duo Maicai, a next-day, click-and-collect grocery service, was rolled out as a response to the changing consumer needs for buying groceries in the wake of the Covid-19 pandemic.
Is there a Colin Zheng Huang family office?
Unfortunately, it doesn’t seem like that there exists a single family office of Colin Zheng Huang. Even our well experienced family office and investment research team couldn’t identify a legal entity, through which Colin Zheng Huang channels his investment activities.
How does the Colin Zheng Huang family office invest?
As stated before, Colin Zheng Huang doesn’t run a single family office. A reason for that could be the fact, that most of his wealth is rooted in the shares of Pinduoduo. As he stepped down as chairman on March 17, 2021, he promised not to sell any of the stocks for three years. But when that period ends and Colin Huang gains some liquidity, it’s highly likely that he sets up a single family office to manage his wealth. We will definitely keep you updated.
This article is part of our detailed report “The Single Family Offices of Asian Billionaires and HNWIs“.
Picture source: Thomas Gamstaetter
