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Pinduoduo to invest $13.7b to aid merchants
Chinese e-commerce platform Pinduoduo, owned by PDD Holdings, announced plans to invest 100 billion yuan (US$13.7 billion) over the next three years.
The investment aims to enhance the transformation and upgrading of merchants on its platform.
The company released the details in a statement on Apr. 3.
Recent Pinduoduo developments
| Timeline |
|---|
26-Feb-2025 🤖 Pinduoduo hires ex-Baidu experts to build AI models
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23-May-2024 📈 Pinduoduo more than doubles revenue, grows operating profits by 275% in Q1
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30-Nov-2023 📈 Pinduoduo close to overtaking Alibaba as China’s most valuable ecommerce firm
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05-Oct-2023 🛒 Pinduoduo’s Temu offers SEA something unique, but gaining a foothold will be hard
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21-Mar-2023 🛑 Pinduoduo app barred on Google Play Store over security concerns
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| 15-Feb-2023 🛍️ Pinduoduo’s sister company Temu expands to Canada |
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