Pinduoduo shares leap 35% on New York debut

$0 to $30bn in 3 years. That's the story of Pinduoduo, a Chinese shopping platform started by an ex-Google engineer that directly competes with Alibaba and JD (the company just so happens to have been backed by Tencent), that before this email you most likely haven't heard of. Going after a customer base that "have yet to fully embrace e-commerce, residing in poorer, lower-tier cities", the company has taken advantage of its ties with Tencent to leverage WeChat, connecting buyers and sellers and make group purchases. It's often called the Groupon of China, but I think the platform is far more robust and the numbers, well, are just insane.


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