Pinduoduo, China’s largest e-commerce platform for agricultural products, has announced its Q3 earning last night and its user number has strongly increased to over 730 million buyers.
Chinese e-commerce platforms are thinking about new ways to help consumers obtain cheaper pork. And the online community group buying model is one of the ways.
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.
In Meituan Dianping’s earnings announcement last week, the company said profit increased to 875.8 million yuan ($123.66 million) in the three months ending June 30.