Chapter 866
The God of Wealth Creation: A Company Where Everyone is a Millionaire
The triumph of the "low-price philosophy": Pinduoduo's market capitalization surpasses $100 billion on its first day of trading, reshaping the landscape of Chinese e-commerce!
Behind a market capitalization of hundreds of billions of US dollars: the "brutal" efficiency and the "sweet" traffic of a race to the bottom.
"Another wealth creation myth! A single slash to go public, and the founder becomes one of China's top billionaires. Have you ever 'cut' money like this?"
"How many millionaires did Pinduoduo's IPO create?"
Is employee stock ownership a new corporate organizational model?
No one expected that the stock of "Pin Yi Dao" would be so warmly received after its official launch.
In just one and a half hours, its market value exceeded $100 billion.
This truly confirms what Wang Donglai said earlier.
What does a market capitalization of hundreds of billions of dollars mean?
As of now, the largest listed company in China is Taotian Group, with a value of over 400 billion US dollars.
The world's most valuable company is Microsoft, with a market capitalization of over $700 billion.
With a market capitalization of $100 billion, Pinduoduo ranks 75th globally.
That's not the most outrageous part. The most outrageous part is that Pin Yidao is just a subsidiary of Galaxy Technology.
Galaxy Technology also has subsidiaries such as Douyin, Toutiao, Neihan, Galaxy Bio, Galaxy Energy, Galaxy Aerospace, Galaxy Entertainment, Galaxy Semiconductor, Xinghuo Express, and Pinhaofan.
If we take a decisive blow as the benchmark, Galaxy Technology's total market value easily surpasses one trillion.
It can be said that the listing of Pinduoduo directly propelled Wang Donglai to the throne of the world's richest man, and firmly cemented him in that position.
When the actual value of the "One-Shot Kill" product exceeded 100 billion.
Galaxy Technology's live stream also announced that, in order to thank consumers for their support, PinYiDao will be giving away over 100 million yuan worth of no-threshold red envelope discount coupons, as well as more than 10,000 red envelopes worth 1,000 yuan each.
Furthermore, PinYiDao also disclosed the general shareholding situation of its employees.
Based on current stock prices, Pinduoduo has created 1524 millionaires, 540 multi-millionaires, and 57 billionaires.
This figure is even more shocking than a market capitalization of hundreds of billions of dollars.
Because the market value of a single transaction is fictitious, most people have no concept of large sums of money.
However, when it comes to millions or tens of millions, things are different.
Moreover, the number of participants in the "Fight for a Winning Hand" event was specified.
More than a thousand millionaires and more than five hundred multi-millionaires.
They have truly put into practice the previously announced employee stock ownership and dividend policy.
"When one person gets it, everyone else benefits. I really envy the employees who take the hit, getting carried to success without even lifting their shoulders!"
"Back then, I was offered a job that was worth a fortune, but I didn't cherish it. Now I regret it deeply. If I had another chance, I would sign a contract for ten thousand years."
"I used to think it was fake when I read online that even a security guard who made a single bet could get stock options worth hundreds of thousands of yuan. But now I realize I was wrong."
"Sisters, when you're dating, you should definitely find someone who works for a company under Galaxy Technology. First, the salary is high; second, they work four days on and three days off, so they have time to spend with you; and third, if someone can get a job at Galaxy Technology, they've been vetted and their abilities are definitely not an issue."
"Am I the only one who knows that in addition to stock options, employees of Pin Yi Dao also receive a year-end bonus and salary? In other words, these employees who hold stock options worth millions are themselves middle-class people with annual salaries of several decades."
"That makes sense. PinYiDao's employees already have high salaries and benefits, and they also have stock options. As PinYiDao develops further, not only will their salaries and benefits increase, but their stock options will also increase."
"Stop talking, stop talking, please! I'm so envious my eyes are red, why won't you leave me alone?"
"I'd be willing to sacrifice five hundred years of my roommate's love in exchange for being hired by Galaxy Technology after graduation."
"@Jack Ma, come and learn from them. See how Pin Yidao does it. Pin Yidao only has a few employees, yet it has produced so many millionaires and multi-millionaires. I don't expect Taotian Group to do the same, but can't they at least make all the outsourced employees permanent employees first?"
"I've figured it out now. Galaxy Technology really treats its employees as human beings, not as consumables."
"Can't we have more companies like Galaxy Technology and Pin Yidao? They work themselves to the bone all day just to earn a little over four thousand yuan. It's really meaningless."
"I think what Mr. Wang from Galaxy Technology said makes a lot of sense. It's about making consumers benefit from the products they buy, and ensuring that merchants, factories, and platforms can all earn reasonable profits, instead of the platform dominating the market."
"When will Galaxy Technology start its ride-hailing service? Can we just let Dida go to hell? I've noticed that since Dida monopolized the market, it's become increasingly greedy, taking higher and higher commissions. We're all working for Dida, and we still have to provide our own vehicles."
“Our company’s IPO created 3 billionaires and 100 employees who were laid off, while our 'One Cut' strategy created more than 1000 millionaires.”
"Jealousy has distorted me beyond recognition! Does Pin Yi Dao still hire cleaners? I'm willing to learn!"
"Thinking calmly, can this model be sustained? High welfare inevitably leads to high costs."
"In any case, the fight gave us hope—maybe capital can be more humane, maybe tech companies can really change the way things are distributed."
"Pinyidao's success is based on three foundations: first, the accurate selection of the agricultural sector; second, the extreme technical efficiency that reduces operating costs; and third, the strong execution brought about by high employee satisfaction. None of these three can be lacking."
The launch of PinYiDao caused a shock and impact, much like throwing a stone into a calm lake, creating ripples.
According to the plan, a celebration party will be held after the listing.
This is both a celebration of Pinduoduo's successful IPO and an opportunity to thank others.
The rooftop ballroom of the W Hotel on the Bund is illuminated by dazzling crystal chandeliers, making the entire space as bright as day.
The celebration banquet following the successful IPO of PinYiDao is being held here.
Outside the window, the night view of the Huangpu River is like a flowing scroll painting. Across the river, the skyscrapers of Lujiazui are flashing with a special light show celebrating the listing of Pinduoduo – the four characters “Pinduoduo Future” are flashing alternately in the night sky.
Wang Donglai stood in front of the floor-to-ceiling window, holding a glass of champagne. His dark gray suit was well-tailored, but his tie was loosely hanging around his neck.
His face didn't show much joy; instead, there was a faint sense of detachment.
It was as if this fight worth hundreds of billions of dollars meant nothing to him.
Originally, as the absolute protagonist of the celebration banquet, Wang Donglai should have been surrounded by a crowd of stars.
However, the people who are here are not fools; they are naturally perceptive.
Seeing Wang Donglai like this, they naturally wouldn't rush over.
Just at this time.
Huang Zheng walked over with a triumphant look on his face, his joy quite evident.
After his company, Pinduoduo, was acquired by Galaxy Technology, it has gradually developed to its current level.
He had seen the potential of the social e-commerce model a long time ago, but he had never found a way to monetize it.
With the support of Wang Donglai, they took a different approach, using popular apps like Neihan to attract users, and with a large influx of capital, they formed a complete and efficient e-commerce system.
The rise of Pinduoduo was preceded by Taotian Group, JD.com, and numerous e-commerce platforms in niche markets.
Capital institutions like Tencent are eyeing it covetously.
The fact that they were able to bypass these capital sources and develop PinYiDao is enough to demonstrate the brilliance and shrewdness of PinYiDao's development plan. Therefore, although Huang Zheng and Wang Donglai have some differences in their views, he still highly recognizes and admires Wang Donglai's abilities.
The closer Huang Zheng got to Wang Donglai, the more unconsciously the smile on his face faded.
Standing in front of Wang Donglai, he said, "Boss, Mr. Duan would like to get to know you."
Mr. Duan?
Looking at Huang Zheng, the name Duan Yongping immediately came to Wang Donglai's mind.
This man is considered a big shot in the business world, and Huang Zheng is his last disciple. It's not surprising that Huang Zheng would come to make the connection at this time.
"Mr. Duan is a senior, let's go together."
Wang Donglai gave him plenty of face and immediately set off towards where Huang Zheng had come from.
At this moment, a man in his fifties, who was also looking in Wang Donglai's direction, walked over as well.
Huang Zheng immediately introduced the two, saying, "Boss, this is President Duan. President Duan has always paid close attention to us."
As Huang Zheng was introducing them, Wang Donglai had already shaken hands with Duan Yongping.
"Mr. Wang is truly young and promising; he's someone to be envied."
"Mr. Duan, you're too kind."
"I'm not just being polite. In just a few years, Galaxy Technology has grown from nothing to what it is today, which is unprecedented in the world. Even when Taotian Group and JD.com were able to seize the initiative, Galaxy Technology was still able to break into the market and achieve a market value of hundreds of billions of dollars, which is enough to prove that Mr. Wang has a keen eye."
Wang Donglai chuckled softly and said, "I just saw the trend of consumption downgrading and caught the wave of agricultural internetization."
This answer immediately piqued Duan Yongping's interest.
Even now, many people do not agree with the notion of "consumption downgrade".
The economy continues to grow at a rapid pace, and all sectors are thriving.
Everyone is saying the future will be better, brands are striving to move upmarket, and investment institutions are constantly raising valuations.
However, by focusing on a single strategy, they can establish themselves in the low-end market, reduce intermediate distribution links and profits, and achieve a balance between the consumer and production ends.
It's just like walking a tightrope at 10,000 meters in the air—thrilling and exciting.
Ironically, this dangerous act was still accomplished by Pin Yidao.
"I have carefully studied the development of Pinduoduo, and it seems that your company was determined from the beginning that consumption would decline. May I ask Mr. Wang how he made this judgment?"
After thinking for a moment, Duan Yongping still asked the question.
Wang Dong glanced at Duan Yongping, then at the others present.
"Mr. Duan, the profit-seeking and short-sightedness of capital is like a runaway horse. If it cannot be effectively controlled, there will only be one outcome."
"That means the rich get richer and richer, and the rate of capital appreciation far exceeds the rate of social wealth growth."
"The rich will get richer, while the wages of ordinary workers may seem to be increasing, but they have less and less money to spend."
"A downgrade in consumption naturally becomes inevitable!"
Duan Yongping's eyes immediately cleared; he understood what Wang Donglai meant.
He glanced around instinctively before saying with a hint of lingering fear, "Mr. Wang, you can't say things like that!"
Wang Donglai sneered and said, "What's wrong with saying this? Everyone knows the truth."
“A suitable market needs both producers and enough consumers. If money is highly concentrated, consumption will naturally stagnate.”
"A spindle-shaped structure would be most suitable, but reality often develops into a pyramid structure."
"By taking a gamble and implementing employee stock ownership, Galaxy Technology is improving employee benefits and is trying something out."
"Whether a company that treats its employees as human beings and shares the fruits of development with them can survive and thrive, and whether it can develop even better, is a good indicator of its potential."
"It seems like it's a success!"
Wang Donglai dared to speak, but Duan Yongping dared not listen.
Fortunately, Wang Donglai didn't say anything too explicit, which relieved Duan Yongping.
This topic is far too dangerous; it directly touches on distribution, and it's not something a businessman should be discussing.
Duan Yongping was starting to regret his decision; he shouldn't have come.
However, since he's already come all this way and listened to everything, giving up this opportunity would make him seem incompetent and lacking in courage.
"Mr. Wang, it is undeniable that your company's achievements are indeed remarkable."
"However, there are some things that are not for us businessmen to discuss or participate in."
"The idea of helping employees get rich together is good, but in reality, it is unrealistic."
"People have different abilities, and therefore make different contributions."
"Just like your company, many cutting-edge technology research and development breakthroughs were made by President Wang. The contributions made by others are far less than those of President Wang."
"So when distributing the spoils, if it's distributed according to work, then Mr. Wang should naturally take the majority, which is reasonable."
Wang Donglai interrupted Duan Yongping before he could finish speaking.
"Mr. Duan, what you said makes some sense, and I don't want to refute it."
"After all, everyone has different ideas, and we should allow for different voices."
"I just want to say that everyone should have their own pursuits. When you are not financially independent and are working for someone else, it is right and reasonable to earn more money."
"But after achieving financial freedom, one should do something meaningful, such as taking on more social responsibility, pursuing higher ideals, and using one's resources to do things that benefit society."
"Mr. Duan, you can understand it as me conducting a large-scale social experiment, making a bold attempt."
"If I succeed, that would be wonderful. But even if I fail, I can still pat my chest and proudly say that I have done something without any regrets."
"If all I'm supposed to do is sit on the money in my account and live a life of extravagance or keep pursuing wealth growth, then it becomes meaningless."
"Wealth should be controlled by people, not controlled by wealth."
While Wang Donglai and Duan Yongping were chatting, Huang Zheng had already left, giving the two of them some space.
Otherwise, Huang Zheng wouldn't be surprised at all if he heard these words.
Duan Yongping was somewhat embarrassed at this moment, even though Wang Donglai hadn't said it explicitly, nor was he deliberately targeting him.
However, these words still struck a chord with him. (End of Chapter)