Based On Life Cycle Theory Financing Problem Analysis And Countermeasure Suggestions Of Pinduoduo

With the development and application of Internet technology,several excellent Internet enterprises have been born in China in recent years,among which e-commerce enterprises have developed the most rapidly.With excellent marketing means and platform influence,they quickly enter the consumer’s vision and provide consumers with high-quality and inexpensive goods in the most convenient way.However,due to the fierce competition in the Internet environment and the unique operation mode of e-commerce enterprises,enterprises need a lot of financial support on the road to become bigger and stronger.How to avoid the problems caused by financing has become the focus of enterprise operation.This paper selects pinduoduo,an e-commerce enterprise,as the case study object,combines enterprise life cycle theory and financing theory,and mainly studies the financing strategies implemented by Pinduoduo in different life cycle stages from its establishment in 2015 to 2021.In the initial stage,in order to promote its brand and accumulate customers,Pindoduo mainly obtained financing from Tencent,Banyan Capital,Mojo Capital and other investors through private equity.In the growth stage,pinduoduo mainly raised a large amount of equity financing through pre-IPO and listing in order to maintain its rapid development and operation.In the mature stage,in order to promote the development of the agricultural platform and implement the"ten billion subsidy" plan,Pinduoduo adopts the financing method of issuing convertible bonds and directional additional issuance of shares.Through the research on the financing of Pinduoduo,found that Pinduoduo in financing structure unreasonable financing and debt financing deadline,there is no significant profit growth in terms of financing income and cost structure is not balanced,in financing risks exist insufficient cash flow and debt paying ability is weak.To effectively solve the Pinduoduo on the problems existing in the financing process,this paper puts forward some countermeasures and suggestions,mainly including broaden the financing channels,the implementation of short-term debt financing,optimization of product quality,improve the marketing model,to strengthen management and strictly control the outflows of funds,for the Pinduoduo a lot of financing to provide certain reference significance.