Pinduoduo: China’s Little-Known E-Commerce Giant
When it comes to China's e-commerce market, Pinduoduo Inc (NASDAQ: PDD) is a true success story. Although Pinduoduo, also known as PDD, was founded only four years ago, the company's market capitalization of around US$40 billion is equal to that of Baidu, part of the BAT triumvirate of Chinese tech stocks that also include Alibaba and Tencent.
It currently operates an e-commerce platform based very much on social interaction but started out as a group-buying service in a similar vein to Groupon. It now believes it can disrupt the current online retail duopoly in China of Alibaba and JD.com. In fact, PDD's shares have increased over 80% from its IPO price of US$19 when the company made its debut in July 2018.
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Source Fool.com
