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Pinduoduo was founded in 2015 by Chinese businessman and software engineer Colin Huang and initially focused on the agriculture industry. [5] [6]On 7 June 2018, Legal Evening News reported that Pinduoduo investigated and shut down stores and removed listings that violated its platform policy against pornography and violence, following an earlier report by the newspaper.
It recorded 788 million annual active users in 2020, according to its Q4 earnings report that just came out. Alibaba lagged slightly behind at 779 million active users through the year. In terms ...
Alibaba rose 7%, Pinduoduo climbed nearly 10%, and JD.com moved up by about 11%. The People’s Bank of China unveiled a range of monetary stimulus measures in a last-ditch effort to revive the ...
In August, Pinduoduo unveiled its 10 billion yuan ($1.57 billion) agriculture program to “face and address critical needs in the agricultural sector and rural areas.”. The initiative is all ...
Over 88.4 percent of Pinduoduo’s RMB 1.2 billion ($180 million) Q1 revenue was spent on marketing. This could be translated as a sign of difficult traffic acquisition. The most typical Pinduoduo ...
Back in 2018, Pinduoduo sent shock waves through the investor community when it raised $1.6 billion from a Nasdaq listing as a three-year-old company.Online shoppers in China were excited to see ...
Low-cost e-commerce giant PDD Holdings beat Wall Street estimates for fourth-quarter revenue on Wednesday, driven by the robust growth of its global platform Temu and end-of-year sales festivals ...
Temu, the online retailer owned by the parent of Chinese e-commerce company Pinduoduo, is opening its platform to U.S. and European sellers. A Temu spokesperson on Thursday confirmed the company's ...