Colin Huang
Chinese entrepreneur
Colin Huang
|
|
---|---|
Born |
Huang Zheng
( 1980-01-01 ) January 1, 1980 (age 43) [1]
Zhejiang
, China
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Education |
Zhejiang University
University of Wisconsin |
Occupation | Businessman |
Known for | Setting up Google China |
Title | CEO and chairman, Pinduoduo |
Colin Huang or Huang Zheng ( Chinese : 黄峥 ; pinyin : Huáng Zhēng , born January 1, 1980) is a Chinese billionaire businessman and philanthropist . [2] [3] [4] He is the founder and former CEO of the e-commerce company Pinduoduo , which is now the largest agriculture platform in China. [5] Huang is also the owner of at least three other limited liability Cayman companies, including Pinduoduo. [6] [7] [8]
Early life and education
Huang was born in 1980 in the outskirts of Hangzhou , Zhejiang . [9] [10] His parents were middle-class factory workers. [9] [10] He attended Hangzhou Foreign Language School .
At the age of 18, Huang began studying computer science at Chu Kuchen Honors College of Zhejiang University . [11] During his freshman year, he was selected as a fellow at the Melton Foundation. [12] Huang graduated with a master's degree in computer science from the University of Wisconsin in 2004. [13]
Business career
Early career
Huang interned at Google and Microsoft. [14] [13] [15] He became an engineer with Google in 2004. [14] In 2006, he returned to China with Kaai-fu Lee to expand Google services in China.
After resigning from Google in 2007, Huang started the e-commerce site Oku. He sold it for $2.2m in 2010. [7] In October, he ranked seventh on the 2019 Huron Report. [16] In March, he ranked second in the 2020 Huron Global Young Zhuang Sect Self-Made Rich List. [17] In November, he was named to the 2021 Forbes Rich List of Mainland China, ranking sixth with a wealth of ¥213.2 billion. [18]
Pinduoduo IPO
Huang founded and led the Shanghai-based company Pinduoduo in 2015. [19] [20] Pinduoduo had a revenue of 1.4 billion yuan ($280 million) in 2017. In 2019, its revenue was $4.33 billion US dollars (30.14 billion RMB). [21] It became publicly traded following an initial public offering in the United States in July 2018, raising $1.6 billion. [22] After the public offering on NASDAQ , Huang's 47% stake in Pinduoduo was valued at $14 billion, making him the thirteenth richest person in China. [23] [13] [24]
On July 1, 2020, Huang stepped down as CEO of Pinduoduo but continued as its chairman. [25] [26] On March 17, 2021, Huang stepped down as chairman and entrusted the voting rights of his shares to the Board. [27] The company said Huang will pursue "new, long-term opportunities". [28] [29] [30]
Philanthropy
By June 2020, Huang reduced his Pinduoduo stake to 29.4% by donating 2.37% to a charitable foundation and 7.74% to the Pinduoduo Partnership. [31] [32] He also donated 2.37% to an irrevocable charity to promote social responsibility development and scientific research. Huang was named the leading philanthropist on the Hurun China Philanthropy List in 2021 after pledging US$1.85 billion for social responsibility projects and scientific research. [3] [33]
According to Bloomberg , Huang and the Pinduoduo founding team have donated 100 million (2.37% of Pinduoduo shares) to the Starry Night Charitable Trust to "support fundamental research in biomedical science, agriculture, and food." [34] [35]
See also
Notes
- In this Chinese name , the family name is Huang .
References
- ↑ Cannon, Christopher. "Colin Huang - Biography" . www.bloomberg.com . Retrieved 27 August 2021 .
- ↑ McMorrow, Ryan (2020-12-23). "Colin Huang, Shanghai's secretive internet king" . Financial Times . Retrieved 2022-02-06 .
- 1 2 Choi, Martin (11 May 2021). "Pinduoduo's founder is China's top donor with US$1.85 billion in charity" . South China Morning Post . Retrieved 27 August 2021 .
- ↑ LAU, YVONNE. "China's Big Tech billionaires up philanthropic giving as Beijing cracks down" . Fortune . Retrieved 27 August 2021 .
- ↑ "PDD Stock - Pinduoduo Inc. SEC Filings" . sec.report .
- ↑ "Pinduoduo Inc. Acquisition Statement SC 13D" . SEC.report .
- 1 2 "Colin Huang, Shanghai's secretive internet king" . The Financial Times .
- ↑ "Pinduoduo - Together, More Savings, More Fun" . m.pinduoduo.com . Retrieved 2022-11-25 .
- 1 2 Liang, Lu-Hai. "Meet Colin Huang, who just stepped down as CEO of $100 billion Pinduoduo and whose wealth exploded by $25 billion in 2020" . Business Insider . Retrieved 20 March 2021 .
- 1 2 De Wei, Low (16 April 2021). "The bumpy road of Pinduoduo and its founder Colin Huang" . KrASIA . Retrieved 29 May 2022 .
- ↑ JUAN, CHEN. "Young Talents in Shanghai -- Impressions of Pinduoduo Founder Colin Huang" . www.yicaiglobal.com . Retrieved 27 March 2021 .
- ↑ Huang, Zheping (6 August 2018). "How Pinduoduo founder became China's youngest self-made billionaire" . South China Morning Post . Retrieved 20 March 2021 .
- 1 2 3 "A Former Google Employee Just Became One of China's Richest People" . fortune.com . Retrieved 1 August 2018 .
- 1 2 "How the pandemic boosted the net worth of China's fastest-rising billionaire" . Fortune . Retrieved 2020-06-24 .
- ↑ "Colin Zheng Huang" . Forbes . Retrieved 2022-01-23 .
- ↑ "2019胡润百富榜公布 马云家族第三次夺冠(搜索版)" . finance.sina.com.cn . Retrieved 2022-02-07 .
- ↑ "Hurun Report - Info - Hurun Global 40 & Under Self-Made Billionaires 2020" . www.hurun.net . Retrieved 2022-01-23 .
- ↑ "China's Richest 2021" . Forbes . Retrieved 2022-01-23 .
- ↑ "The bumpy road of Pinduoduo and its founder Colin Huang" . KrASIA . 2021-04-16 . Retrieved 2022-01-23 .
- ↑ Moss, Trefor (2021-03-20). "How Pinduoduo Beat Alibaba to Become China's Top Shopping Site" . Wall Street Journal . ISSN 0099-9660 . Retrieved 2022-02-06 .
- ↑ Sun, Leo (12 March 2020). "Pinduoduo's Growth Decelerates Again as It Burns More Cash" . fool.com . Retrieved 27 March 2021 .
- ↑ "Colin Zheng Huang" . Forbes . Retrieved 20 March 2021 .
- ↑ Fang, Alex. "IPO Of Chinese E-Commerce Firm Pinduoduo Mints New Young Billionaire" . forbes.com . Retrieved 30 July 2018 .
- ↑ Pinduoduo opens on the Nasdaq , retrieved 2022-01-23
- ↑ "Pinduoduo founder steps down as chief and reduces personal stake" . Financial Times . July 2020 . Retrieved 2020-10-08 .
- ↑ "Meet Colin Huang, the billionaire who founded, and just quit, Pinduoduo" . South China Morning Post . 2021-04-21 . Retrieved 2022-01-23 .
- ↑ Shead, Sam (17 March 2021). "Pinduoduo founder Colin Huang steps down as chairman" . CNBC . Retrieved 27 August 2021 .
- ↑ "Chinese tycoon abruptly quits tech giant he founded" . finance.yahoo.com . Retrieved 2021-03-18 .
- ↑ "China's third-richest man relinquishes control of its fastest-growing e-commerce giant" . Fortune . Retrieved 2022-01-23 .
- ↑ Zhai, Keith (2021-03-17). "Pinduoduo Founder Colin Huang Steps Down From Company" . Wall Street Journal . ISSN 0099-9660 . Retrieved 2022-02-06 .
- ↑ Keatinge, Colin. "Pinduoduo Founder Foundation Donates $100 Million to Alma Mater" . www.bloomberg.com . Retrieved 27 August 2021 .
- ↑ 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 .
- ↑ "Hurun Report - Info - Hurun China Philanthropy List 2021" . www.hurun.net . Retrieved 27 August 2021 .
- ↑ Keatinge, Colin. "Pinduoduo Founder Foundation Donates $100 Million to Alma Mater" . www.msn.com . Retrieved 27 March 2021 .
- ↑ "Letter to Pinduoduo staff: Another baby step of Pinduoduo | Pinduoduo Inc" . investor.pinduoduo.com . Retrieved 27 March 2021 .