Pinduoduo recently surpassed Alibaba on market capitalization and Alibaba stock is trading barely above its $68 IPO price in 2014. Alibaba’s growth has slowed dramatically in recent quarters. Alibaba’s revenue only grew 8% YoY in Q3 2023 while Pinduoduo grew 90+%. China’s consumer sentiment has been lethargic ever since the brutal zero COVID policy was lifted and its property bubble popped. Consumers switched to lower cost options, cut back discretionary spending and made a lot of their purchases on social media platforms directly . Alibaba’s market share for e-commerce in China went from ~80% when it went IPO in 2014 to ~40% today.
12/7/2023: What Happened to Alibaba?
12/7/2023: What Happened to Alibaba?
12/7/2023: What Happened to Alibaba?
Pinduoduo recently surpassed Alibaba on market capitalization and Alibaba stock is trading barely above its $68 IPO price in 2014. Alibaba’s growth has slowed dramatically in recent quarters. Alibaba’s revenue only grew 8% YoY in Q3 2023 while Pinduoduo grew 90+%. China’s consumer sentiment has been lethargic ever since the brutal zero COVID policy was lifted and its property bubble popped. Consumers switched to lower cost options, cut back discretionary spending and made a lot of their purchases on social media platforms directly . Alibaba’s market share for e-commerce in China went from ~80% when it went IPO in 2014 to ~40% today.