Why Pinduoduo's Huge Bet in Agriculture Is Critical to Its Future
Pinduoduo (NASDAQ: PDD) is an unusual company. Founded in 2015, the company took only a few years to become the second-largest e-commerce platform in China (by active buyers), behind Alibaba (NYSE: BABA). But as the tech company entered the limelight thanks to all its success, the founder stepped down to pursue his other interests.
Another unusual decision that Pinduoduo took was to invest heavily in the agriculture industry. For example, the company plans to allocate 10 billion yuan of its profits (starting from the second quarter of 2021) to enhance productivity and promote sustainability of the agriculture industry. But why agriculture? Here are two potential factors that likely contributed to that pivot.
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Source Fool.com
