Pinduoduo will subscribe to $200 million in GOME convertible bonds and integrate GOME’s product range, logistics and after-sales customer service with its platform.
The MAU (Monthly Active Users) of Pinduoduo surpassed Taobao in the first quarter of 2020, mobile data and analytics platform App Annie reported Thursday.
On March 25, several Pinduoduo employees stated on social media that Taobao implemented a so-called “risk control” strategy against them by blocking them from their platform.
While Gojek has reportedly denied its involvement in such talks, a potential merger between the two does not sound like something completely out of the question.
Pinduoduo has launched its dedicated "Help the Farmers" channel on February 10, to match the demand from of users with products from over 12 million agricultural producers.
Many of China’s unicorn companies, responsible for the creation of China’s formidable logistics system, have assisted in various emergency initiatives.
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.
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.
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.
