Colin Huang

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Name: Colin Huang 

Country: China 

Date of birth: 1980

Education: Bachelor of Art/Science in computer science

Type of business: E-commerce

Main Achievements: He is a Chinese businessman, entrepreneur, and self-made billionaire. He is the owner and founder of online discounter Pinduoduo. According to Forbes Chen Dongsheng has a net worth of $25.8 billion. His name was present in the list of billionaires 2020 by Forbes. He was also a part of China’s richest 2019. He became china’s 13th richest person at such a young age.

Something interesting about the person: Interesting fact about him is that he is running a business wherein his customers are mostly from the lower class. 

Biography:

Colin Huang is a Chinese businessman who was born in Hangzhou in 1980. He belonged to a working-class family as his father worked in a factory. Colin was very intelligent from a young age. Colin’s favourite subject was mathematics, and he even got a medal in mathematics Olympiad in his school. After getting the medal, Colin’s life completely changed. As a prize from standing first in the Olympiad, Colin Huang got a scholarship in an elite school in Zhejiang province.

After enrolling in the school, Colin got introduced to many students who were the children of many known elites. He even got introduced to the Mayor’s daughter as she was his classmate. By studying with these students, his confidence got boosted, which later changed his life. After completing his school, he got selected in one of the biggest and the prestigious institutes in China, Zhejiang University. This was another big opportunity which he earned with his hard work and dedication. He got his degree in Computer science from Zhejiang University and even got selected in Melton Foundation in the first year of university.

While studying at university, Colin Huang started to work as an intern in Microsoft Beijing. There he used to get the monthly stipend of 600 Yuan. The stipend he got from his internship was greater than altogether his parent’s salary at that time. After graduating from Zhejiang University, he went to peruse a master’s degree from the University of Wisconsin. At that time, he had gained a lot of experience, and he was doing exceptionally well both academically and professionally. He was recommended to many known tech giants by his professor that got impressed by his hard work at that time. In 2004 after graduating from Wisconsin University, he got offers from many renowned companies such as IBM, Oracle, and Microsoft. However, he decided to work with Google by turning down all three offers. Google, at that time, just filed its IPO. He joined the company as an engineer. In 2007 Huang resigned from his position from Google. The reason he gave for his resignation was that his schedule was very hectic and he was tiring for him to travel from the US to Chine back and forth. At the time of his resignation, he had already earned a reputed name along with good money.

After resigning from Google, Colin came back to China and started his own business. He started an Ouku named e-commerce website which became popular is a short period. However, he sold the website in 2010 after three years of its release. After selling Ouku, he founded another website named Leqi, along with a gaming studio named Xunmeng. Through all these three websites, he made a lot of money which resulted in the foundation of his next venture Pinduoduo, which became Colin Huang’s most successful venture.

His company Pinduoduo is an online discounter that gives offers to its customers on purchasing in a group. Pinduoduo was founded by Colin Huang in September 2015. The company was able to get investments from China’s biggest companies such as Xintianyu, Tencent, and Gaochun, just within a year. The company reported its annual 200 million users in 2018. It is a very big number for a business that has started just a few years back. Huang has made Pinduoduo as one of the leading young e-commerce platform giving tough competition to e-commerce giants such as JD.com and Alibaba.

Links

https://www.forbes.com/profile/colin-zheng-huang/#1019d4d03a92

http://www.yourtechstory.com/2019/03/16/colin-huang-son-factory-worker-ceo-billion-dollar-company-pinduoduo/

https://www.scmp.com/tech/china-tech/article/2158175/how-colin-huang-went-factory-workers-son-chinas-youngest-self-made