Tencent Technologies News, on August 30, Pingduo surpassed Baidu in market value and became the fifth largest Internet company in China. Huang E, founder and CEO of the company, had a real-time wealth of 17.4 billion US dollars, ranking seventh among the ten richest people in mainland China.
By Thursday's U.S. closing, Pingduo's share price surged 8.66% on Thursday, with a market capitalization of $39.1 billion, surpassing Baidu to become the fifth largest Internet listed company in China, behind Alibaba, Tencent, Metro and Jingdong.
According to Forbes Real-time Rich List on the morning of August 30, Huang's fortune reached 17.4 billion US dollars, ranking 46th in the world, seventh in the list of wealthy people in mainland China, third in the list of wealthy people on the Internet in China, and in front of him are Internet tycoons including Ma Yun and Ma Huateng.
Zhang Yiming, founder of byte beating, ranked eighth, Ding Lei, founder of Netease, ninth and Shunfeng Wang Wei, tenth among the ten richest people in mainland China.
Other top ranked Internet giants include Zhang Zhidong, Lei Jun, Liu Qiangdong, Wang Xing, Robin Li and Zhou Hongyi.