Chinese e-commerce major Pinduoduo's founder Huang steps down as CEO

Chinese e-commerce major Pinduoduo's founder Huang steps down as CEO

Colin Huang, chief executive officer and founder of Pinduoduo, poses for a photograph at the company's office in Shanghai, China, on Friday, Feb. 24, 2017. . Photographer: Qilai Shen/Bloomberg

Colin Huang Zheng, the founder of China’s high-flying e-commerce upstart Pinduoduo Inc., stepped down as chief executive officer and gave away nearly $14 billion of his company shares.