Shanghai-based e-commerce giant Pinduoduo is exploring adding a live function to their platform to augment the social nature of their business model.
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Amazon is back with plans to open another online store on Pinduoduo, the latest e-commerce disruptor, challenging the industry’s status quo with year-round discounts, group buying and a shrewd focus on China’s underrepresented lower tier cities.
Pinduoduo announced its unaudited financial results for the third quarter ended September 30, 2019.
However, when their e-commerce rivals like Alibaba’s Taobao and JD.com were boasting about their inflated GMV numbers during the shopping festival, Pinduoduo took another approach.
On October 25, the stock price of Pinduoduo, a new Chinese e-commerce star, soared by 12.62% to $39.38, reaching an all-time high.
Chinese tech entrepreneurs are holding most of the country’s wealth, as a large number of the names on Hurun China Rich List 2019 are CEOs of tech giants.
According to Tencent Technological News, Chinese group buying e-commerce platform Pinduoduo surpassed Baidu in market value, becoming the fifth largest Internet company in China.
On August 21, Pinduoduo, an innovative and fast growing "new e-commerce" platform and one of the leading Chinese e-commerce players, announced its unaudited financial results for the second quarter that ended June 30, 2019.
Pinduoduo has been a lone bright spot in what has been a very difficult time for Chinese ADRs listed in the US.
According to Forbes, a record number of Chinese investors, particularly women investors, have made Forbes' 2019 Midas List.