Pinduoduo reported a slower pace of growth in the first quarter as the agricultural platform operator shifted its focus to research and development.
The United States Securities and Exchange Commission (SEC) added more than 80 Chinese companies to a delisting watchlist on Wednesday, including JD.com, Bilibili and Pinduoduo.
Community group buying platform Nice Tuan had shut down all of its operations in cities across the country. The company has entered an aftermath stage in which it is dealing with payments to suppliers and settlements with employees.
Pinduoduo, China’s largest agriculture platform, said it will step up its efforts in promoting digital inclusion and continue to focus on research and development, as the company records a 59% gain in annual orders.
Pinduoduo has recently become embroiled in a false advertising dispute on Chinese social media, after a web user participated in a livestream event purportedly offering the chance to obtain a free mobile phone.
Chinese tech giant Tencent has recently alpha tested a community group buying (CGB) applet "Exiangtuan" (鹅享团 Èxiǎngtuán) on WeChat.
Farmers in one of China’s main strawberry production areas are expecting increased output after deploying precision technology developed through a smart agriculture competition organized by domestic tech firm Pinduoduo.
Zhejiang Consumers Council announced on Thursday that in order to stay on top of livestreaming e-commerce, the organ tested five major platforms including Taobao, Pinduoduo, JD.com, Kuaishou and Douyin.
Yan Xiaobing, the head of JD.com International, announced on Tuesday his decision to retire after the Chinese Spring Festival next year due to family and physical reasons.
Pinduoduo appears to be forging a path to sustainable growth after garnering more than 800 million customers in record time.
On October 29, Chinese short video platform Kuaishou announced its co-founder Su Hua has relinquished the role as CEO, and Cheng Yixiao, another co-founder, executive director and chief product officer, has been appointed as CEO.
With several top players withdrawing from the competition, the bloated market is entering a new phase of consolidation.
Technology will help to more than double the size of the digital agricultural economy in China by 2025, providing fresh impetus for the country’s drive for agricultural modernization, according to a top agricultural expert.
Pinduoduo, the e-commerce upstart that has ascended at meteoric speed to challenge the market incumbents, may be starting to feel the effects of gravity.
Pinduoduo reported second-quarter revenue that missed analyst estimates as the e-commerce company added the fewest number of new buyers since 2019.