Huang Zheng stepped down as CEO of Pinduoduo, and Chen Lei, the former CTO, took over, is his ambiti

Everyone who knows about e-commerce in China knows that e-commerce leaders have an inspiring grassroots entrepreneurship story. Jack Ma quit his job as an English teacher to create China's first internet business information release**. The initial start-up capital was 20,000 yuan raised by his relatives; Liu Qiangdong was born in Jiangsu Province to a poor family.

After he was admitted to the National People's Congress, he also had an era when Zhongguancun set up a stall to sell CDs. <>

Compared with the two predecessors, Huang Zheng's experience is more compelling. He mentioned on many occasions that when he was a child, his family was not poor, but his life was more difficult. When he was a child, he often wore the clothes of his mother's colleagues or relatives and children.

Huang Zheng's mother's consumption habits had a great influence on Huang Zheng, which prompted him to pay attention to the needs of ordinary families when starting his business.

"Huang Zheng was admitted to Hangzhou Foreign Chinese Language School with excellent results since he was a child. After graduating, he worked for Microsoft and Google, and returned to China in 2006 to participate in the construction of Google's China office. The following year, he quit his job to start his own business and tried to start one business after another in the e-commerce and gaming industries.

An operating company and a gaming company were established. The latter was renamed Dream Hunt in 2012. This name is still used by Huang Zheng today, and Dream Hunting is also the main body of the company.

Returning to Huang Zheng's personal experience, wealth has always been his goal.

When he graduated from studying abroad, Huang Zheng had applications for employment at both Microsoft and Google. He listened to Duan Yongping's opinion and chose Google, which is striving to go public, over Microsoft, which has a more complete system. At the subsequent Buffett dinner, Huang Zheng was introduced and brought in by Duan Yongping, opening a new chapter in his continuous entrepreneurship.

To this day, when he recalls the inspiration that Warren Buffett brought him, he said that Buffett is admired mainly because he can play the game of capital to the extreme, and knows more clearly that money is not the goal. On the one hand, he enjoys the fun of the capital game, and on the other hand, he donates most of his money to Bill Gates** to complete the redistribution of wealth.

On July 1, Huang Zheng, founder and chairman of Pinduoduo, announced that he would step down as the company's CEO, the company's co-founder and former CTO Chen Lei would serve as CEO, and Huang Zheng would continue to serve as chairman.

It's not an obvious ambition, Huang Zheng's resignation from Pinduoduo is also an upgrade of the company's internal organizational structure, and Huang Zheng's shares remain unchanged, and he is still the chairman of the company, so don't guess.

Of course not, Huang Zheng is about the same age by this time, and the original CTO is the most suitable candidate and the most helpful candidate for this company.

I don't think it's ambition, but a normal personnel change, Huang Zheng entered the board of directors to manage the company, and the power was handed over to Chen Lei!

There are 6 billion traffic revenue per day alone.

Pinduoduo's Huang Zheng didn't want to be in the limelight anymore, not only stepped down as CEO, but also changed shares.

Huang Zheng transferred the shares to the senior management team, donated the shares to establish Fanxing Charity**, and returned the shares of angel investors to the original owners.

What is the meaning of Huang Zheng's wave of equity operations?

We all know that when Pinduoduo was listed, Huang Zheng did not ring the bell on the spot, and he rarely spoke in public, mainly through letters to shareholders to communicate with the outside world, which shows that Huang Zheng was originally a low-key person.

Huang Zheng really wants to retreat into the background, I think the main reason is that Huang Zheng is unwilling to be the richest man, which is in line with his low-key personality.

Recently, Pinduoduo's stock price has risen sharply, and many remarks are saying that Huang Zheng has surpassed Ma Yun to become the richest man in China, but this is really not the case, after all, Huang Zheng's shares themselves have many factors of nominee holdings and non-listed companies. Therefore, Huang Zheng took the initiative to reduce the shareholding ratio.

For the long-term development of the company's organization and personnel, Pinduoduo will continue to establish and improve the partnership system. We can see that Huang Zheng will give the shares of Pinduoduo listed companies under his personal name to the Pinduoduo partner collective.

In fact, Pinduoduo adopts the "AB share + Ali-like partner system", which is similar to the control design of JD.com and Alibaba.

And Huang Zheng's shareholding is still high, and this company is still firmly in the hands of Huang Zheng.

Huang Zheng no longer serves as the CEO, but directly serves as the chairman, which also shows from the side that he has confidence in his company and his subordinates, and believes that Pinduoduo has passed the dangerous period and is on the right track, so there is no need to pay too much attention to specific affairs, and he should know how to let go and leave it to others to take care of.

We can see this from other Internet companies in China:

Although there is a great opportunity for consumption sinking market, another opportunity for consumption upgrading cannot be missed for Huang Zheng.

Huang Zheng needs to retreat behind the scenes to think about how Pinduoduo should break the game, is it to learn from Ali to found Tmall? If Huang Zheng gives this kind of answer, it is too uncreative.

Chen Lei, as the co-founder of Pinduoduo, was previously responsible for Pinduoduo's technology, and Pinduoduo's grouping and slashing gameplay was calculated by his "distributed AI".

Moreover, Chen Lei is not averse to showing his head, he often attends various industry conferences and events, and gives speeches on stage.

Huang Zheng said in his resignation letter that after his resignation, he chose to devote himself to scientific research and develop from cutting-edge basic science exploration, that is, to become a scientist. I think it's a sign of a successful retirement.

This is because he feels that he has already achieved a lot in this job, so he chose to quit his job and will go on to other careers in the future.

He has his own job, wants to live his own life, doesn't want such a tiring job, wants to go home to spend more time with his children, and give him a happy childhood.

Because he feels that the future belongs to young people, he leaves this opportunity to others and tries to develop and achieve in other industries himself.

Huang Zheng has put his energy into other fields, and may have other plans.