Colin Huang

Colin Huang or Huang Zheng (Chinese: 黄峥; pinyin: Huáng Zhēng, born 1979/1980) is a Chinese billionaire businessman. He is the founder and CEO of e-commerce company Pinduoduo incorporated in the Cayman Islands.[3] Huang is also the owner of at least 3 other limited liability Cayman companies each owning a 7.7% stake in Pinduoduo.[4][5]

Colin Huang
Born
Huang Zheng

1979/1980 (age 40–41)[1]
NationalityChinese
EducationZhejiang University
University of Wisconsin
OccupationBusinessman
Net worthUS$64.7 billion (Jan 2021)[2]
TitleFounder and chairman, Pinduoduo
SuccessorLei Chen

Early life

Huang was born in 1980 to factory worker parents on the outskirts of Hangzhou, a city in China's eastern province of Zhejiang.[6] Huang attended secondary school at Hangzhou Foreign Language School.

Education

At the age of 18, Huang began studying computer science at the Zhejiang University. In his freshman year, he was selected as a fellow at the Melton Foundation, established by VeriFone founder Bill Melton.[7] Huang graduated with a master's degree in computer science from the University of Wisconsin in 2004.[8]

Career

Huang joined Google as an intern, and then started working as an engineer in 2004.[9] He also interned at Microsoft.[8]

After resigning from Google in 2007, Huang started ecommerce site Ouku. He sold it for $2.2m in 2010.[5]

Following the July 2018 initial public offering of Pinduoduo on NASDAQ, Huang's 47% stake was valued at $14 billion, making him the 13th richest person in China.[1][8]

As of July 2, 2020, it is reported that from a June 30 filing that Colin Huang has cut his PDD stake down to 29.4% from 43.3%.[10] ON July 1, 2020, Huang stepped down as CEO but will continue as Chairman.[11]

Pinduoduo

The Shanghai-based company Pinduoduo, also known as PDD, was founded in 2015 and reported revenue of 1.4 billion yuan ($280 million) in 2017. In 2019, its revenue was $4.33 billion dollars. It became publicly traded following an initial public offering in the United States in July 2018, raising $1.6 billion.[12]

References
  1. Fang, Alex. "IPO Of Chinese E-Commerce Firm Pinduoduo Mints New Young Billionaire". forbes.com. Retrieved 30 July 2018.
  2. "Bloomberg profile: Colin Zheng Huang". Bloomberg. Retrieved 17 July 2020.
  3. "PDD Stock - Pinduoduo Inc. SEC Filings". sec.report.
  4. "Pinduoduo Inc. Acquisition Statement SC 13D". SEC.report.
  5. "Colin Huang, Shanghai's secretive internet king". The Financial Times.
  6. https://www.businessinsider.com/fabulous-life-colin-huang-pinduoduo-2020-7#huang-came-from-humble-beginnings-and-a-math-olympiad-changed-his-life-1
  7. https://www.scmp.com/tech/china-tech/article/2158175/how-colin-huang-went-factory-workers-son-chinas-youngest-self-made
  8. "A Former Google Employee Just Became One of China's Richest People". fortune.com. Retrieved 1 August 2018.
  9. "How the pandemic boosted the net worth of China's fastest-rising billionaire". Fortune. Retrieved 2020-06-24.
  10. Feng, Venus; Jin, Berber; Schmidt, Blake; Huang, Zheping (2 July 2020). "His Wealth Surged By 25 Billion Then Jack Ma's Rival Quit". Bloomberg. Retrieved July 17, 2020.
  11. "Subscribe to read | Financial Times". www.ft.com. Retrieved 2020-10-08. Cite uses generic title (help)
  12. https://www.forbes.com/profile/colin-zheng-huang/?sh=11ff2a4f3a92


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